Is offering an apprenticeship scheme of benefit to your business? Of course it is. Get the lowdown on all the advantages here.
Have you heard the news? Apprenticeships are to get legal protection to protect the term from abuse. The government’s Enterprise Bill will set about making sure that all apprenticeship schemes are of the quality they should be.
All of this is great news for young applicants, but is offering an apprenticeship scheme of benefit to your business? Of course it is. There a number of advantages for employers offering apprenticeships. Here are just a few:
Value of apprenticeships to employers
All businesses should want their products or services to be the best they can be. If you are one of these companies then you may be able to do this by hiring an apprentice.
According to research from the Department for Business, Innovation and Skills, 72% of employers questioned believed that hiring apprentices improved their product and service quality. Whereas, 68% said their business benefited from higher productivity.
It may not seem obvious, but employing more staff could actually make you more money. Yes, you’re outgoings will increase (you can get help with funding) but so will your profits.
According to the latest research from AAT and Cebr, apprentices aided UK organisations by helping deliver nearly £2billion of net economic benefits last year. That’s a huge return on investment and the economic output should more than make up for the average cost of wages and training.
The average company will receive a boost of £2,000 for every apprentice they hire, which rises to over £2,500 in London.
Receive immediate benefits
Yes, apprenticeship schemes can take years to complete, but with time shared between on-the-job training and traditional education methods, you, as the employer, won’t have to wait until graduation time to reap the rewards.
The economic benefits are almost instantaneous; you’ll receive an extra pair of hands (and for low cost at that) while they gain a qualification. Plus, when the apprentice is qualified, you’ll receive the added benefit of immediate productivity and they’ll be rewarded with a pay rise. It’s a win-win situation.
Advanced and specific skills
One value of apprenticeships to employers that often gets forgotten is the practical skills that these employees acquire. Apprenticeships are becoming increasingly specialised subjects in order to fill, not only the general roles, but the more specific ones too.
For example, there has been a huge rise in popularity of big data in recent years, but there aren’t enough trained professionals in the industry, meaning jobs are highly sought after. Your regular IT professional simply would not have the in-depth knowledge to handle these capabilities, whereas a trained specialist apprentice would.
Why should you employ an apprentice?
IBM’s apprentice professional development manager, Jez Brooks, said: “An apprentice is no longer someone who makes the tea, or who hands the mechanic a monkey wrench. The young professionals in IBM Apprenticeships certainly have real responsibility and make a proper difference to our most important clients.
“Options are perhaps not quite limitless but you are no longer confined to a handful of career paths through an Apprenticeship. It is no longer a choice between black gowned, mortar boarded academia or blue collar, callous handed, boiler suited grease monkeys.
“You can complete a degree through an Apprenticeship, working in industries as diverse as IT or construction, beauty or Law. There are real careers to be developed, professional skills to be learned and future business (or even country) leaders to be nurtured.
“The technical ICT path is not simply a path for ‘IT Geeks’ — it offers technical training that can lead young people into project management, technical marketing and sales, as well as software development, delivery and problem solving.”
So, do you now recognise the value of apprenticeships to employers and are considering setting up your own scheme? Or maybe you’d prefer IT courses or business training for your staff? Either way, Global Knowledge can help.