News and features

Thu, 14 May 2009

Paphitis explains importance of on-the-job training

Dragons' Den star Theo Paphitis speaks at retail sector's apprenticeship event.

Theo Paphitis emphasised the value of apprenticeship schemes during a recent Skillsmart Retail event at London's Excel Centre.

Held as part of Apprenticeship Week, the seminar brought 80 major figures from the UK retail sector together to discuss how its employers can benefit from on-the-job training.

Paphitis, ranked 581st in the Sunday Times Rich List 2008 with a net worth of £135 million, told the delegates how his passion for retail was stirred when he started work as a young trainee at Watches of Switzerland.

The 49-year-old entrepreneur said: "I left school and didn't have a clue what I was going to do. I turned up for work on the first day and it changed my life - that was it.

"I felt that for the first time in my life I actually had self-esteem. All of a sudden I was an authority on something."

Born in Cyprus, Paphitis moved to England with his family at the age of six.

He is a former chairman of Millwall football club and become a household name by starring in the popular BBC series Dragons' Den, in which hopeful entrepreneurs make investment pitches to a panel of wealthy businesspeople.

Also speaking at the Skillsmart Retail event was Hayley Tatum, personnel director for Tesco UK, who said that the company's apprenticeship programme has helped it to stay ahead of the competition.

She explained: "Investing in good-quality training that we are sure can deliver a return on our investment is what we are all looking for.

"In this climate, when we need to be flexible and fleet of foot as volumes and customer demands change, we've got the flexibility with that workforce."

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