The Value of an Apprentice
Details: Written by Eleanor Lodge
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Published:
The number of job vacancies in October to December 2021 rose to a new record of 1,247 from the pre Covid-19 levels seen in January to March 2020. Now, with employment falling by almost half a million by the end of 2021, largely driven by younger workers in “elementary occupations”, there is a need for training opportunities to efficiently and appropriately train in key demanded skills areas.
With data from leading job market analytics EMSI revealing the top five posted occupations in January 2022 as Sales Accounts and Business Development Managers, Nurses, Programmers and Software Development Professionals, Care Workers and Home Careers, and Other Administrative Roles, apprenticeship programmes offer benefits to both the employee and employer and are a key resource to utilise when working to close widespread skills and occupation shortages.
While apprenticeship training offers clear benefits to the employee through on the job training alongside a wage, an apprenticeship programme offers a unique set of employer benefits. Apprentices are passionate, joining employment with an ambition to learn. This creates an opportunity for the employer to craft the “perfect candidate” for their job role, developing staff with the most beneficial skills for a business and a team of committed employers with a deep affiliation to their employer, increasing staff retention.
Apprenticeships continue to be a popular and successful route into the workplace, providing training through a real-life working environment and ultimately developing a workforce qualified with a plethora of experience. Apprenticeship programmes create an adaptable and well-rounded employee to fulfil the needs of business, building competence through knowledge skills and behavioral training.
As a leading ITP, we provide a unique approach to apprenticeship programmes, designing our curriculums alongside the employer to add real value to their business. This allows businesses to tailor their apprenticeship programmes to long term strategies and their individualised L&D plans.
Recent research has revealed that 86% of employers found apprenticeship programmes help their organisation develop their employee skills is areas most relevant to their business, 78% of employers found apprenticeship programmes help improve the productivity of their business and 74% of employers found apprenticeship programmes help improve the quality of their business’ end product or service.
With funding for apprenticeships available to all employers through The Apprenticeship Levy, employers can provide high quality apprenticeship opportunities across the country. After a business has paid its levy bill to HMRC, the funds will be held in a Digital Apprenticeship Service (DAS) account which a business can access through their online portal - The Direct Apprenticeships Service.
The account allows the business to not only access funding but to find apprenticeships, locate, save, and manage training providers, recruit apprentices, and manage any apprenticeships they are currently running.
Research suggests that in the last two years employers have lost an estimated £2bn in unspent levy funding which was returned to the Treasury between May 2019 and March 2021. It’s time for employers to utalise this upskilling funding and resource to benefit not only their business, but the economy too.
Find out more about apprenticeships and how we can support your organisation - Click here to download our FREE brochure.