How can your organisation benefit from apprenticeships?
When it comes to the success of a business, getting recruitment right is essential in order to build long term stability and growth. One of the most effective ways for a company to do this is by taking on promising young apprentices who can learn the inner workings of your industry through first-hand experience.
The benefits of using apprentices can be felt in a wide range of ways, both direct and indirect, short and long term. This includes the financial savings which many apprentice employers have made, with 75% saying an apprentice programme has helped them cut recruitment costs.
Up until spring of next year, for every £1 an employer pays toward the cost of external training and assessment as a cash contribution, the Government will pay £2. After April 2017 a new apprenticeship levy will be introduced by the government which will change the entire framework around apprentices, with a new online system being introduced.
Click here to learn more about the governments apprenticeship levy
Apprentices have also been attributed with improving the productivity of a workplace and improving retention among workers. Research has shown that 80% of employers who employ apprentices agree they make their workplace more productive, while 92% said that apprenticeships lead to a more motivated and satisfied workforce.
“When our apprentices began, we started to notice a real ideas exchange between them and the more experienced workers. After a while we were being approached by colleagues who work in our Innovation team asking to meet our apprentices to gain insight and feedback from them – they were almost like consultants!” - James Lawrence, Apprenticeship Programme Manager, Visa Europe
The indirect advantages of taking on apprentices may not always appear so obvious, but can be far reaching. In a survey 81% of consumers said they favour using a company which takes on apprentices. While 89% of apprentice employers say apprentices have helped their business improve the quality of their product or service.
Research has also shown that apprentices are more likely to stay for longer than hired employees, and go further in the business. 57% of apprentice employers report a high proportion of their apprentices going on to management positions within the company.
Overall businesses from a huge variety of sectors and industries have found that apprentices create a positive impact not only for themselves but for other employees and the company. 89% of apprentice employers say apprentices have helped their business improve the quality of their product or service.
Some employers mistakenly believe that apprentices will cost more than hired employees, but in reality apprentices often pay for themselves within a few years and can improve a company’s bottom line by boosting productivity and making companies more effective.
The initial outlay of hiring an apprentice is often smaller than many companies think thanks to government funding, with 88% of employers saying apprenticeships are a cost-effective way to train staff. Apprenticeships also make a contribution to the wider economy, with data from the National Audit Office showing that every £1 spent on apprentices already pays back £18 to the economy.
If you are considering taking on an apprentice or creating an apprenticeship programme at your organisation, please get in touch with Lifetime Training by emailing firstname.lastname@example.org or call 0333 0143 669.