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The new federal policy will come into effect in April 2008 and see $1.372 billion invested in a new, industry-led system.
Industry skills councils such as SkillsDMC will work with employers to assess what skills are needed now and in the future, and work together to fill the gap with tailored, competency-based training.
"The new skills policy will be the first time enterprises can focus on outcome, demand-based training to specifically fill areas of their business that are skills-short," chief executive Des Caulfield said.
"Today, over half a million people work in the resources and infrastructure sectors. However, with an ageing workforce causing an annual attrition of approximately 5 to 6 percent and increasing global demand, 50,000 to 60,000 experienced workers are needed each year.
"To fill this gap, and keep up with projected production increases, training is paramount and an essential component of a long-term solution to the skills shortage."
SkillsDMC works with industry stakeholders and enterprises to assess what the skilled personnel companies will need up to 10 years ahead.
SkillsDMC's free Future Workforce Manager tool helps to project these needs, taking into account factors such as starting new operations, retiring employees, labour turnover and increases in market demand.
Caulfield said to make the most of the new training places, organisations needed to identify what their workforce needs were now and what they would be in the future.
"The new government policy will allow organisations to resource training places in areas of need, rather than industry trying to recruit trainees and students from VET [vocational education and training] courses," he said.
"This will deliver skilled employees to organisations and greater workforce participation to the economy."
Caulfield said training was the simplest, fastest and most-effective long-term solution to the skills crisis.
"Employers who carefully measure their workforce needs and employ nationally-recognised training will ensure the viability of their workforce and business today and as the shortage continues to tighten," he said.
