Is an Apprenticeship Program Right for My Business?

Is an Apprenticeship Program Right for My Business?

If you’re a business that has not employed apprentices in the past or you don’t have an apprenticeship scheme in place, it could be difficult for you to understand why other businesses are hiring them. A lot of the world’s leading businesses have apprenticeship programs in place, here’s why.

Running an Apprenticeship Program Is a Cost-Effective Way to Boost Your Business.

With the apprenticeship levy in place, if you’re a company that has a wage bill over £3 million pounds, you’ll now be paying a compulsory payment in value to 0.5% of the total wage bill for your business. This money sits in a digital account and the government add an additional £1 for every £10 that you pay in. You can recover this money but only if you spend it on apprenticeship training.

Employing Apprentices Can Make Your Organisation Run like Clockwork.

One of the great things about bringing new young talent on board is that they can take on many of the simpler, more time-consuming tasks within the business which can become part of their learning journey. This then frees up your senior employees, allowing them to focus on more difficult tasks which will help to push the company in the right direction. Apprentices can learn the business from the ground up which will make them very experience and you will have made a significant investment in developing your employees for the future.

An Apprentice Program Can Boost Staff Morale and Improve the Working Culture of Your Business.

A little-known fact about apprenticeships is that they don’t have to be new starters in your business. They can upskill their current role or prepare for a new role within your business. Giving your existing employees the chance to gain new training and qualifications is hugely empowering. It helps to motivate your employees and create a better working culture, which in turn makes people more productive and your company more profitable.

Hiring Apprentices Can Help Staff Turnover

This is partly down to your apprentice committing to long term work and a training program with your business, but partly because they feel more fulfilled and feel comfortable enough to put the skills that they have learnt in to practice in an environment they are familiar with. Lower wages mean less spend allocated to recruitment throughout the year and that’s good for the bottom line.

Apprenticeships Provide Your Existing Employees with an Opportunity to Progress.

An Apprentice will have a mentor within your company, this person may not realise it, but they are providing the new staff member with the skills and behaviours needed. This may highlight the leadership skills of existing employees you didn't know existed. The person already doing the role may not be a manager or have management experience. Pairing your apprentice with someone that already does the role gives this person a chance to understand and develop the skills that they need to be able to coach someone.

If you would like to know more about hiring an apprentice or training your existing staff get in touch with us at Springfield Training today on 0113 440 1475.