Apprenticeships are an investment into the opportunities for your team, from entry-level to manager and beyond. But what about the return on this investment? Here we explain the main benefits that an apprenticeship programme can bring you as an employer. By transforming the Apprenticeship Levy from an overhead into a hard-working part of your long-term growth strategy, we make people the driving force behind future-focussed competitive advantage.
The benefits of employing an apprentice
Improved retention rates
Apprentices across every industry are more likely to stay within your business compared to other team members. Apprentices stay, and the reason is clear. Apprenticeships offer learners structured career progression and increased confidence, resulting in fulfilled team members.
In fact, 80% of companies that have invested in apprenticeships report an improvement in staff retention.
And we’ve seen the proof. We work with four of the largest UK Pub Companies (Pubcos), a sector renowned for a high turnover of employees. These Pubcos have an average team turnover of 84%, and an apprentice turnover of 39%. Apprenticeship programmes have resulted in these companies halving their turnover rate.
Use government incentives for young talent
Employers will receive a £1,000 government incentive for each apprentice employed between 16 to 18-years-old. The incentive is also available if the apprentice is up to 24 years old and has previously been in care.
Save on National Insurance contributions
If the apprentice is younger than 25 and earns below £827 per week, employers won’t have to pay class 1 National Insurance contributions. The employee will still pay their share, so this is a benefit purely for employers. The money saved only adds extra value to employing an apprentice.
Upskill your workforce at all levels
From new starters to management, there are apprenticeships for every level of your team. By mapping your apprenticeship programme to internal career progression, learners can understand their next step clearly.
Using your apprenticeship levy towards training your existing staff means a more engaged and skilled team. Around 70% of apprenticeship training we provide is to existing team members across all job levels.
Improve talent attraction
Around 75% of applicants applying through our recruitment service do so specifically because it’s an apprenticeship. Earning an accreditation alongside industry-leading training attracts driven, forward-thinking applicants. A candidate that is seeking to learn and develop is an asset to any employer.
Free recruitment services
Employers can cut the cost of the recruitment process by utilising our free apprenticeship recruitment service. Applicants are screened against criteria set by our employer partners, with the final decision being made by you.
We also have a specialist higher apprenticeship recruitment team, so this free service can even be used to find management-level candidates.
Industry-leading skills and behaviours
New apprenticeship standards are industry-led and are developed by employers in your sector. This means the skills, knowledge and behaviour developed by apprenticeships are made to be the best in your industry. Making sure your businesses stays competitive and future-proofed.
Why are apprenticeships good for businesses?
The long-term success and growth of any business is reliant on its team. Apprenticeships are an investment in your people, and your business.
We believe that everyone deserves the life-changing opportunity to learn the skills they need to unlock and fulfil their potential.
And that empowered, upskilled people are fundamental to any business growth strategy and long-term competitive advantage. At Lifetime we work to deliver apprenticeship training solutions that unlock bright futures for people and businesses.
Let’s reshape skills training together, get in touch today.