One of the best possible ways to grow talent and create a vibrant, motivated and skilled workforce is to hire apprentices. There are many reasons why established companies and startups should consider apprentices, including;
Apprentices are Funded Through Social Funds
Apprentices benefit from Educational Finance opportunities, especially through social funding systems. These social funds are usually made available to apprentices within the age group of 16 and 24, while those above 25 years of age who engage in apprenticeship under important economic sectors may qualify for 50% direct training costs. A company doesn’t have to pay a regulated salary to apprentices, there saving the company the overhead costs of paying salaries.
Your Company Will Qualify for Apprenticeship Grants
Companies who hire apprentices can qualify for incentives under the National Apprenticeship Scheme. There are some grants available for employers who specifically hire apprentices between the ages of 16 and 24. This grant is mostly available to companies with staff numbers lower than 50, especially those that are new in hiring apprenticeship or have not hired apprentices in the last 12 months. Employers who qualify for this grant can receive up to 5 grants in total, just to cover the costs of hiring and training new apprentices.
When you take on a new apprentice in the earliest part of your business, you can gain huge commercial and social benefits that will add value to your company in the long run.
It Builds Communication and Teamwork
Small and Medium Scale Employers have benefited tremendously from the improved teamwork and communication skills that come from apprentices employed over time. With the introduction of a new apprentice to the company, there is an increased commitment and high morale among staff. With increased communication and teamwork, there is higher retention and improved productivity within the work environment.
It Addresses Technical Skill Gaps
Apprenticeship training is one of the fastest and most efficient ways to address skills gaps which many companies know can hamper the growth of their businesses. Skills shortages occur when there are not enough people available to hire in certain sectors. There are several apprenticeship levels that can be used to address skills shortages in any company, most notably in the fields of Engineering, Science, and Manufacturing. Apprenticeship often includes classroom learning, online training and practical hands-on experience that will sharpen the skills of apprentices to help them fill skill shortage gaps in any company.
It Builds Loyalty and Staff Retention
Apprenticeships have been found to be highly effective in building loyalty among staff. The probability of an apprentice staying on at your company is very high, especially with the technical experience he or she has gained over the months or years that they are with you. The apprentice will definitely want to include the experienced gained in your company on their curriculum vitae.
Apprentices will tend to feel more valued by a company that actually starts them off on their career path, hence they may be more likely to stick around for a longer period of time. Companies that struggle to retain their staff can rely on apprenticeships to combat such issues and retain staff. In addition to the apprentices being more loyal to your organisation, other employees can benefit from the enthusiasm of these apprentices when they see that one of the cultures of your organisation is to invest in people.
Apprenticeship is Cost-effective
One of the greatest benefits of apprenticeships are that they are cost-effective. The fact that the government sponsors 90-100% of apprenticeship costs means companies can hire apprentices and pay them at wages lower than the national minimum wage. Apprenticeships are a cost-effective option when it comes to expanding your workforce or strengthening your staff numbers.
Apprenticeships are a particularly viable option for companies looking to expand rapidly and fill skill shortage gaps when they don’t have the funds to conduct training or hire additional employees immediately. Boosting your employee’s skills through an apprenticeship can improve company profits in the long run, and that means training new apprentices for free or on a low budget.
It Diversifies and Freshens the Workforce
Though they may seem to be novices, apprentices do have some fresh ideas they can bring to your company. Since most apprentices are graduates straight out of college or university, they can contribute some of those ideas they have learned at school to your organisation. You can also adapt the training that your apprentice receives to the needs of your organisation. Apprentices often bring fresh thinking, innovations and the latest knowledge on topics which will benefit your company in the long run.
A Wide Selection of Apprenticeships Covering Different Job Roles
One of the main benefits of apprenticeships are that there are a wide range of available apprentices covering a wide range of job roles, which means you can choose the ones your organisation needs most. You should be aware of the key areas where your organisation is lacking in skills and manpower, and these are the shortages you want to fill up with new apprentices.
Companies can rely on the constant availability of apprentices to complement their workforce until they find a permanent skilled person to handle all positions efficiently. The on and off the job training given to apprentices ensures the high standards you want in a new employee and keeps your company at the top of the game. The on and off the job training will also help apprentices develop themselves to become independent problem solvers within your company. This independence will help them manage their assignments and projects more efficiently, with little or no help.
Apprentices are always full of enthusiasm and motivation because they want their career paths to start on a good note, therefore they will put in all their effort to impress their employer. Apprentices do their best to turn their apprenticeships into full-term employment and that is a plus for the benefiting company. Many companies have been able to train apprentices successfully through the various apprenticeship programmes, and their businesses have undoubtedly reaped the benefits.