Much is made of the benefits of apprenticeships for apprentices, but for employers, there are also many benefits. We take a closer look at the top five.
1. It’s great for your business
Anyone at any level can do an Apprenticeship, which means that your staff will always have an opportunity to learn new skills, growing alongside your business. This not only means they’re bringing new skills and qualifications into the business, they’re also motivated by the opportunities it gives them. In fact, 78% of employers say hiring apprentices has helped improve productivity, and 74% say that apprenticeships have improved the quality of their services and products.
2. Highly trained workforce
The ability to upskill your workforce means you can always have a great pool of candidates ready to fill more senior roles. Promoting current members of staff can be great for the business as they already know the company, your brand and the way you do things. They will also have earned the respect of their peers and know the team well, which means they can hit the ground running.
Additional bonuses of Apprenticeships are that the skills of the workforce are higher and growing all the time, there’s greater motivation and positivity, and staff retention is higher. Hiring and training new employees is expensive in terms of both time and money, making training and development schemes that are specifically related to your business a great return on investment.
3. You’ll attract great candidates
When it comes to school leavers, many students are looking at Apprenticeships as an alternative to going to university. With Apprenticeships, they learn a trade at the same time as they’re earning money, whereas at university they’re less likely to be learning exactly what they need to hit the ground running when they join the workforce, and they’ll also be thousands of pounds in debt.
Candidates who want to go on to further training opportunities, whether in their specialist field or in business and management, will also be attracted to companies that offer higher level Apprenticeships. This means you’ll attract a better quality of candidate to your vacancies, and they’ll then improve still further as they study for and complete their Apprenticeship.
4. It’s funded
If your annual wage bill is under £3m, the government will contribute 95% of your training funding. If your annual wages come to more than £3m, then you will have to pay the Apprenticeship Levy anyway, so by employing Apprentices, you’ll be making the most of this money at the same time as upskilling your workforce, with all the business advantages that brings. Some employers are put off hiring Apprentices because of the complexity of the Levy, but that is something we can support you with.
5. It’s a great thing to do
Hiring and training Apprentices offers job opportunities to your local community, which in turn helps the local economy. Investing in people’s futures is something you will be perfectly within your rights to shout about, whether that’s on social media, part of a business awards entry, or part of your CSR policy.
Talk to us to find out more about the benefits of hiring Apprentices, and how we can support you throughout the process.