06. 02. 2024

Why should I have an apprentice in my business?

Apprenticeships for both new and existing staff, are a cost-effective way for your company to grow talent, especially when developing a motivated and skilled team. There are many benefits to hiring apprentices in your organisation, from bringing in new skills to improving productivity, it is no secret that apprenticeships are becoming an attractive choice for both employers, those looking to start their careers and people looking to switch careers.

Find out the benefits of hiring an apprentice in your organisation and how you can utilise an apprenticeship programme to support business objectives below!

Why should I have an apprentice?

Your organisation can have many advantages from having apprenticeships, these involve:

Government funded training

The government apprenticeship levy requires businesses with an annual pay bill of more than £3 million to contribute monthly to a centralised 'pot' of money that businesses then access to fund training opportunities. A levy-funded apprenticeship can help organisations maximise the return from this business cost, allowing individuals to access this government funding to pay to upskill employees. Some organisations may be able to gain an extra £1,000 to support apprentices in the workplaces if they are aged between 16 and 18 years old, or 19 to 25 years old, have an education, health and care plan, or used to be in care.

Diversifying your workforce

Apprenticeships are a great way to offer more accessible paths into certain careers, including becoming a solicitor or professional in the legal sector, compared to the more traditional routes. Apprenticeships offer individuals the chance to earn a real wage whilst studying for a professional qualification. Due to this, apprenticeships have become attractive to a broader range of individuals, meaning you can recruit candidates from backgrounds that are more diverse. By having a wider talent pool. you will be championing inclusivity within your hiring process, bringing in a new wave of fresh and new ideas into the organisation. This will drive positive change within the organisation to foster a more inclusive culture within.

Training that is tailored to meet your business needs

86% of employers say that apprenticeships have assisted them in developing skills that are relevant to their organisation, which is clear that apprenticeships can offer great opportunities to train individuals based on the specific needs of your organisation. Compared to traditional forms of learning which are more generic and only offer certain specialisms, apprenticeships are the best route to take. Professional apprenticeships are also a way to develop employees who excel in their job roles and understand your organisation and culture.

Increase in staff retention

Apprentices are known to be loyal to organisations and are highly motivated to learn new skills than other employees, did you know 69% of companies said that they saw their staff retention rates improve when hiring apprentices?

Due to the financial cost and time involved in hiring and training new staff, efforts that can be made to improve the retention of staff are valuable for organisations, hopefully resulting in huge cost savings year upon year.

Continuation of professional development for existing staff

By supporting employees with their professional development, you are helping to build a more motivated workforce who give more into their roles. By giving employees the ability to learn new skills, you will boost their satisfaction which has benefits for them as individuals, but also organisations as a whole. Research has shown that not only are happy employees more productive and perform better, but they are also likely to stay with the company for a longer amount of time. This is a great benefit for organisations who want to improve their talent retention, which in turn, reaps the benefit of saving time and costs for having to not recruit to fill roles as often.

Developing and introducing new skills

Apprenticeships help to develop a team with the skills your business needs. This leads to an increase in productivity and improvement in business performance. By having a unique blend of on-the-job and classroom-based learning, apprenticeships can help unlock hidden talent within your organisation. The practical side of apprenticeships can allow you to upskill and reskill employees in a shorter time space, so you can close skills gaps quickly and futureproof your pipeline of talent.

Increase productivity

Apprenticeships can drive smarter business performance whilst also delivering value. Because of the training apprentices receive, the minimum wage for an apprentice in their first year is less than a standard employee's. Hiring an apprentice can be a cost-effective way of increasing the number of employees you have in the organisation, meaning you can boost productivity without having a huge increase in costs.

Existing employees joining apprenticeships can deliver a boost in workplace productivity, applying new skills to their role with knowledge to streamline their processes. 78% of businesses found that their productivity increased as a result of hiring apprentices, with 74% of employers saying apprenticeships have helped them improve the quality of their product or service.

Addressing the skills gap

Apprenticeships are an opportunity to address and close any skills gap quickly. By having on-the-job training and flexible learning delivery, apprenticeships can minimise the daily operations of your organisation.

The advantages of apprenticeships make them an attractive option for employers. Hiring an apprentice can have numerous benefits for your organisation, from increasing productivity to bringing in new ideas and addressing the skills gap. Having an apprenticeship programme in your organisation is a worthwhile investment in your team and your business, creating a dedicated workforce.