Apprenticeships have been in the news a lot recently, with David Cameron pledging 50,000 apprentices by 2018. With more than 860,000 apprentices now in UK, more and more young people are thinking of going into an apprenticeship, but why would a company choose to take on an apprentice?
There are many benefits, and extensive research has been carried out as to how having an apprentice can improve your business.
It has been proven that an apprentice can improve productivity in a company, the government website gov.uk has claimed that UK businesses could gain additional £18bn revenue from apprenticeships. A study finds that offering apprenticeships were perceived by two-thirds of the public as contributing to society and providing opportunities for young people with 5 million of consumers more likely to take an apprentice on board.
Businesses can save a significant amount of money by taking on an apprentice; apprentices only cost £200 a week, saving a large amount on wage costs to a company. The government are offering up to 40,000 apprenticeship grants which are being offered to companies employing fewer than 250 apprentices, with a value of £1,500. This is in addition to the training costs of an apprenticeship, showing that an apprenticeship is a perfect option for small businesses.
It also helps to develop existing staff’s skills, by getting staff to train up apprentices teaching new skills, studies have found that this helps to retain information up to 90%. Therefore as well as increasing efficiency in new staff, it can help productivity with present staff.
Not only are there apprenticeship that are equivalent to GCSEs but there are foundation degree level qualifications as well, by having this wide range of qualifications this creates a higher calibre of staff. It also means that by taking on employers younger you can shape them to your business model.
One key element from a small businesses perspective is that because the apprentice gains a qualification at the end of the 12 month period, a lot of the skills they have learnt from working towards the qualification will help your business. They may learn skills that your own company do not have and with an enormous expansion in technology, it means you can keep up to date with the latest technology.
If you are looking to take on an apprentice for your company, speak to iProTech who can decide on your requirements, advise you on the best options and show you the best route to take.
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