What is Industry Currency?

In this bite-size tutorial, we’ll explain what industry currency means and what you can do to maintain your currency as a trainer and assessor in the vocational education sector. 

The concept of Industry currency refers to the competence and up-to-date knowledge and skills that a person must possess to perform their job roles effectively. Because the requirements and technologies in most industries are continually evolving, employees must continuously update their skills and knowledge to stay relevant and effective in their fields. 

Industry currency is particularly important for vocational education and training, and the standards for RTOs require that all trainers and assessors maintain current industry skills and knowledge. Trainers must deliver up-to-date content to ensure that graduates can smoothly transition into the workplace with the skills and knowledge that the industry currently expects.

To provide training that reflects current industry practice and valid assessment, registered training organisations must ensure that their trainers and assessors maintain currency, not only in their specific industry areas but also in vocational education and training. 

Within their industry area trainers and assessors need to stay up to date with the latest industry trends, practices, technologies, and other developments in the field they're teaching and assessing. This might involve training on new tools and equipment options, or even emerging or updated software, as well as being aware of and understanding any changes in regulations laws or industry standards that affect the industry. 

Maintaining and demonstrating industry currency may be achieved by working or volunteering in your industry, conducting industry-related research, participating in networks, and attending industry events at expos and conferences. You can also do this by reading magazines and journals related to your industry and participating in any other industry-specific activities. 

To ensure that trainers and assessors are using the best and most effective teaching and assessment techniques to deliver and assess up-to-date industry content, currency can be achieved by shadowing or working closely with other trainers and assessors, participating in VET seminars and conferences, particularly those that are hosted by recognised bodies such as the VELG Training National VET Conference. Contributing to VET-related discussions on platforms like LinkedIn. Subscriptions and memberships with VET bodies such as NCVER and ASQA. Professional development workshops and activities that are related to vocational education and training. 

Each RTO should also have a process in place where trainers and assessors document the industry and VET currency activities they have participated in and describe how they're relevant to maintaining currency. This process is important because, at the time of the audit, the RTO may be asked to produce evidence that proves its trainers are actually maintaining their currency. 

RTOs should be proactive in encouraging and supporting the development of current skills and knowledge, by allowing their trainers and assessors to attend professional development events. These should be relevant to their specific industry areas, and the development and enhancement of teaching and assessment methods. They should also focus on the current requirements of the vocational education and training sector. 

If you're interested in a career as a vocational education trainer, contact one of our Course Advisors to learn how you can get started.

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