New Coast Capital Road to Red Seal initiative addresses the province’s chronic shortage of skilled trades
March 6, 2023, (VANCOUVER, B.C.) The Construction Foundation of BC (CFBC) is pleased to announce that Coast Capital has made a one-million-dollar investment towards supporting skilled trades apprentices on their pathway to Trade Qualification and Red Seal Endorsement. The investment will fund a new, no-fee, educational support program, Coast Capital Road to Red Seal, that focuses on addressing educational barriers faced by many trade students.
There is a chronic shortage of skilled trades across British Columbia. These issues have only been exacerbated by the COVID-19 pandemic with challenges such as a serious lack of new entrants, a mismatch of skills to available opportunities, and increased retirements. Additionally, completion rates for Red Seal trades are on average below 50 per cent nationally and below 41 per cent in B.C. That means that over half of those who commit to pursuing a skilled trade career are abandoning the process, resulting in reduced career advancement opportunities and, limited income potential. Often, the decision to quit a program is a direct result of educational barriers that face many trade students related to the academic portion of their training.
The Coast Capital Road to Red Seal initiative focuses on these educational barriers to encourage increased retention and completion of qualifications. The initiative offers a suite of tools and one-on-one support directly to students to address their specific challenges and support their continued progression in their program to ultimately, complete their training and achieve their Red Seal Endorsement.
“Many of the students who choose to pursue a trade gravitate towards the hands-on nature of these professions, but struggle with the academic aspects of these training programs,” explains Construction Foundation Project Manager, Michelle Anderlini. “They may excel on the worksite but find themselves struggling with the required schoolwork and exams. We recognize that by addressing the need for more academic support with things like customized learning plans and one-on-one support, we can impact the outcomes for these students.”
Abigail Fulton, Executive Director of the Construction Foundation of BC, says that the industry often seeks to address the skilled trades shortage by focusing on promoting and recruiting new workers from high schools, offshore, or supporting those who are unemployed with the capacity to succeed in the trades. “While this important work needs to continue,” Fulton adds, “we also need to ensure that those who are already committed to the trades have the support they need to achieve their Trade Qualification and Red Seal Endorsement. We are absolutely thrilled by Coast Capital’s generosity and foresight in supporting the skilled trades in such a significant way.”
“As a federal financial cooperative and social purpose organization, Coast Capital is committed to helping create a better, more equitable, financial future for everyone,” says Maureen Young, Vice President of Social Purpose at Coast Capital. “With this initiative, we are so proud to be able to contribute to and advocate for a community where everyone has the skills and opportunities to thrive. Coast Capital’s Road to Red Seal initiative, broadens and personalizes the tools accessible to trade students to empower them in completing their certification so they can confidently enter the industry, grow their careers and shape their better future.”
The BC Labour Market Outlook forecasts an additional one million job openings coming available over the next decade, with 117,000 openings in the skilled trades. Innovative collaborations such as this, between industry stakeholders, training providers and community leaders help ensure that every person is given an opportunity to build a better future for themselves, their industry and our communities.
For more information about Coast Capital Road to Red Seal please contact: firstname.lastname@example.org
ABOUT COAST CAPITAL
At Coast Capital, we’re not dreaming about a better future, we’re building one. We’re a member-owned financial cooperative with an 80-year legacy of unlocking financial opportunities that positively impact people and communities. We believe that every Canadian deserves a financial partner who actually cares how things turn out. Driven by our social purpose, we look at everything we do through the lens of how we can help our 600,000 members, our employees and communities. Ranked in the platinum category of the 2022 Corporate Knight’s Social Purpose Ranking and a proud Certified B Corporation®, we’re part of a global movement building a more inclusive, equitable and regenerative economic system. Each year, we invest 10% of our bottom line into our communities, which over the past two decades totals almost $90M. We’re deeply committed to making our financial cooperative a great place to work as demonstrated by some of our accolades. Coast Capital is a platinum member of Canada’s Best Managed Companies, one of Canada’s Most Admired Corporate Cultures, and a BC Top Employer. To learn more, visit us online at coastcapitalsavings.com.
ABOUT THE CONSTRUCTION FOUNDATION OF BC
We build community through our charitable initiatives and our commitment to industry-focused education and research that benefits all British Columbians. Through our initiatives and industry connections, we open new doors to the independence, confidence, and opportunities that a career in the skilled trades can offer. Since our inception, we have raised millions of dollars to outfit British Columbia’s shop classes with new equipment, provide driver training to youth at risk, connect educators with professional development opportunities, award worthy young people with bursaries to continue their trades education, and provide much needed support to educational programs. constructionfoundation.ca
Account Manager, Citizen Relations (on behalf of Coast Capital)