Every year young and adult apprenticeships are evolving into the preferred alternative against high-risk traditional employment methods. This has led to a revolution in how apprenticeships work because both businesses and the government are investing in new ways to develop the skills of their workforce, with the most obvious answer being to recruit an apprentice.

With the potentially catastrophic impact of coronavirus on the UK economy, the government is placing their bets on apprenticeships being part of our solution. This can be seen by the vast number of new schemes and funding being made available to businesses like yours. Here’s why:

  • Cost Effective

    Unlike other training methods, apprenticeships keep the member of staff working while they train. Although the apprentice will spend at least 20% of their work hours off-the-job, the government is working to cover most, if not all, the costs of those training hours. This means that you are getting staff who are both working and constantly improving their skills to assist your business, at no extra cost.

    According to the Centre for Economics and Business Research, this is why an apprentice brings an average increase in productivity of at least £10,000 per year, with some sectors being significantly higher.

    If you are taking on an inexperienced candidate for your apprenticeship, you could cut costs even further because the national minimum wage for an apprentice is just £4.15. According to Oxford Economics, the average cost of training a new employee is £25,000. With an apprentice, not only are you reducing your wage bill, your current employees won’t have to divert all their attention towards training the new member of staff, as the apprentice will also be participating in off-the-job training.

    With the economy in contraction, and industry moving faster than ever, your business can’t afford to stop being competitive. With 77% of employers stating that taking on an apprentice made them more competitive, it is an opportunity you can’t afford to miss.

  • Refresh Staff Enthusiasm

    More and more experienced employees are feeling unsatisfied with their current employment. This loss of enthusiasm is the result of staff feeling they are no longer being challenged or excited by their jobs, reflected by 47% of people not finding their careers fulfilling.

    An increasing number of experienced professionals are looking for a career change at 30, 40 or even 50. Instead of losing some of your best assets, offer them an adult apprenticeship that both challenges and excites your staff, whilst increasing the skillset of your business.

    Even taking on young or inexperienced apprentices has been shown to increase staff morale. Taking on fresh and energetic staff for lower costs will diversify and refresh your workplace. This is proven by 73% of employers saying that staff morale was improved as a direct result of taking on apprentices.

  • Adaptable To Suit Your Business

    Unlike other training methods, where a separate institution teaches a set curriculum, an apprentice is trained to suit the needs of your business. You can tailor and adapt exactly what your apprentice learns so it is as appropriate to the job role as possible.

    This is why 86% of employers believe that their apprentices were integral to filling the skills gap in their businesses. With the economy changing faster than ever, every year there will be skills you never thought you needed suddenly becoming crucial to the operation of your business. With an apprenticeship, you can adapt your apprentices training to suit those ever-adapting needs.

  • Retain Staff

    The average cost of replacing a staff member has been estimated at £30,000 by Oxford Economics. With the economy getting more and more competitive every year, the ability of your business to retain staff has become an integral component for survival.

    With 91% of apprentices staying in the job role upon completion, apprenticeships have become an invaluable option for retaining staff. Additionally, it has been found that staff are significantly more loyal to companies that invest in their personal training and skillset. This has been found pertinent by Siemens, who stated that the average length of their apprentices’ stay at their company is 26 years!

  • Improve Company Image

    Apprenticeships offer opportunities to those who may have not been able to utilise the traditional education and employment channels. For this reason, they are widely recognised as a positive thing a company could do.

    As such, it has been found that 80% of customers would choose a business over a competitor if they knew they employed apprentices. And, despite the fact apprenticeships are cost effective, 25% of consumers even stated they would pay more for a product or service if they knew the business employed apprentices.

  • Appropriate For All Ages

    Apprenticeships have changed a lot over recent years, such that they are no longer just a pathway for lower-qualified training. This means there are not only benefits in apprenticeships for 16 year olds but a growing importance in adult apprenticeships in the workplace too.

    With the government investing £100m in the National Retraining Scheme just last year, the need for cost-effective ways for you to retrain your staff is widely recognised as being essential. By turning your staff into apprentices, you can revolutionise your business.

    For local assistance on how to take on an apprentice click here. If you feel ready to take on an apprentice, click here to find a training provider.