How An Apprenticeship Benefits A Business
A lot of people now are finishing school or college and going onto an apprenticeship, there’s a lot more benefit for them than going to uni or college, if they are fresh out of school. But some businesses might be wondering; “what benefit is there for me?” Well, I’m here to tell you about them.
For one, when your company is training an apprentice, you can adapt their training to suit your business better, making them an ideal workforce for you when they finish their course. In fact, it’s said by the apprenticeships.gov.uk (which is the source for many of these statistics) that 74% of employers said that the quality of their business’ product and services increased, which is a great benefit to a business, one would think.
Apprentices tend to be very motivated to learn new skills during their courses as well, so training an apprentice is a lot easier than you would think, people who chose to do an apprenticeship tend to have chosen it as it’s what they wanted to do. As well as this, 86% of employers said apprenticeships helped the apprentices develop skills relevant to the business, which reinforces that apprentices make an ideal work force and benefitting the business even more
And not forgetting that apprentices don’t have to be out of house, you can train existing employees as apprentices, to improve their skills and their effect on the company. 78% of employers said that apprenticeships improved the productivity of the business, another great benefit to a business.
Not forgetting as well the apprenticeship levy scheme, this is where you, the employer, would contribute a 5% investment on each apprentice, whilst the remaining 95% would be covered by the government. You would also be eligible for a £1000 incentive payment for taking on apprentices aged 16 – 18 and if your business has less than 50 employees and an apprentice aged 16 – 18 will receive 100% of the apprenticeship funding from the government as well as the £1000 incentive.
As you can see, there are many benefits to the employer as well as the employee for taking on an apprentice. If you are interested, you should get in contact with us at Oracle, and if you would like to learn more about the apprenticeship levy scheme, there’s more info on the Gov.uk website: https://www.gov.uk/guidance/pay-apprenticeship-levy