With the idea of going to university or college becoming less desirable thanks to the unaffordable debt that comes attached to a degree, apprenticeships have made academic advancement easier for people choosing to excel in a certain industry, learn the ropes and gain a recognised qualification.
The rise in university-educated individuals who’re struggling to find a job in the field they so meticulously studied for is at a record high. Many businesses are now offering in-house training, allowing the right person to get straight to work within the industry they are interested in and gain a qualification while they’re there.
Apprenticeships are constantly evolving to benefit both the individual and businesses, and there are many benefits to hiring an apprentice that offer advantages to businesses. Here are some reasons why apprenticeships are so great for business.
Apprentices have a genuine interest in your business
Apprenticeships are great for businesses because people who apply for them or are already working with you are genuinely interested in and keen to gain a better understanding of the industry you work in or their role specifically. Apprentices who are working in a role that they intend to gain a qualification from and develop a career in are often found to be highly motivated, enthusiastic and productive in their roles.
Injecting inspiration into your business
An apprentice can see your industry and their role through fresh eyes, bringing new ideas and inspiration to your business. By training existing employees using the apprenticeship route, you can give them personalised and relevant long term training to help them gain the level of qualification they need. Apprenticeships can be from level 2 to level 7, so there’s no limit to the learning your employees can achieve using the apprenticeship route.
For all businesses, cost-effectiveness will be a key element of the recruitment process. Apprenticeships are extremely good value for businesses when it comes to training and developing an employee who’s keen to learn and develop.
You can receive funding from the apprenticeship levy to pay for the courses. If you pay into the levy, your apprenticeship places will be fully funded to the limit of the amount you’ve paid in. After that, you’d need to pay just five percent of the training costs. The levy is a non-negotiable payment to the Government for many businesses, and many aren’t using the money they’re paying into the pot.
The only other pay requirement is the salary for the employee, who will spend 80% of his or her time at work, and only 20% doing off the job learning.
It’s a win-win – your apprentice can gain the very best training and support they need, without your business having to dig deep into its pockets to achieve it.
Productivity as standard
Apprentices have a staggering level of productivity. Research conducted for the Centre for Economics and Business Research found that on average, every apprentice offers an amount of productivity that can equate to more than £10,000 per annum for their employer. Some other industries are seeing almost double that figure.
Apprenticeships are an excellent way to inspire and encourage young people to gain confidence and knowledge in the workplace, whilst gaining a recognised qualification that will last them a lifetime. Essentially, your business will get out what it puts into its apprentice programmes.
With effort and enthusiasm, you can build a workforce of employees with a keen ethic for learning and a genuine interest in your business.