5 Reasons Your Business Should Offer an Apprenticeship

Written by Calvin Bowers
employinganapperntice

Taking on apprentices is an excellent opportunity for your business to introduce new talent while developing existing staff. Many companies are already taking advantage of apprenticeships, but if you remain unconvinced they are the right fit for your company, take a look at these five major benefits hiring an apprentice could bring for your business

Develop Skills Tailored to Your Business

If you have identified a skills gap within your team, hiring an apprentice could be the perfect way to match talent with the specific skills you require. Apprenticeships are flexible and tailored to the needs of your company.

It is well-accepted that the best way to eliminate the shortage of skilled workers is by opening up industries to a broader pool of talent – whether that be gender, age, ethnicity or social background. Offering an apprenticeship will provide your business with an easy way to access a diverse range of individuals eager to learn new skills and gain experience in your industry.

Increase Staff Retention

Successful apprentices often become loyal and long-standing members of staff; over 91% of apprentices stay in the job role following completion of their apprenticeship (Rishi Sunak/ Govt.). Employees who start work as an apprentice are likely to work their way through your company’s ranks, with more than half of employers reporting a high proportion of their apprentices move up to take on management positions.

The Advantage of Having ‘Fresh Thinkers’

Apprentices are ‘fresh thinkers’. They will join your business with fresh perspectives and so are able to highlight issues and resolutions that may have gone unnoticed by your team. Eagar and inquisitive minds will help your business progress, develop, and innovate. Apprentices are keen to learn, engage, and offer ideas to help push your business to the next level.

Upskill Your Existing Workforce

Apprenticeships will offer your business an easy route to develop your existing members of staff. Enrolling your employees onto relevant apprenticeships, including in administration, management, customer service, or leadership, will enable your team to gain accredited qualifications and develop specific skills related to your organisation. Overall, this will help make your workplace more productive and boost the performance of your team.

Cost-Effective

Training an apprentice in the skills required to succeed in your industry is a cost-effective method for your business, with the government offering to help cover almost all of the cost of apprenticeship training, if you don’t pay the Apprenticeship Levy.

If you are an employer with fewer than 50 employees, the government will cover the full cost of apprenticeship training for apprentices aged 16-18. For businesses with a pay bill under £3 million per year, and therefore exempt from paying the apprenticeship levy, the English government will pay 95% of the cost of training your apprentice.

The government have also introduced incentive payments for employers taking on new apprentices as employees between the 1st August 2020 and 31st January 2021. For every apprentice hired as an employee at your business, you can claim £2000 if they are aged between 16-24 and £1500 if they are aged over 25.

To find out more information, we have compiled everything you need to know about employing an apprentice. Such guidance and support include these pages on more benefits, potential funding for taking on an apprentice, assistance in your area, help finding a training provider and much more.

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Last Updated: Monday June 20 2022
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