Why apprenticeships are so valuable for employers

Apprenticeships allow learners to work a real job and earn money.  This is all at the same time as completing a qualification. It's often thought that apprenticeships are only suitable for certain trade jobs. Yet, employers from a wide range of industries take on apprentices. 

Apprenticeships aren’t only for young people, they are suitable for experienced employees. It can help them upskill and take their careers to the next level. Because of this, apprenticeships are a valuable tool for a whole range of people. This makes them very beneficial for employers. Do you still have doubts remaining about the value of apprenticeships? Well, here’s why you should consider them for your company. 

Government funded 

The government funds apprenticeships because of their value as an important education tool. As a result, they are much more cost-effective than they might appear. This is in part thanks to the apprenticeship levy, which is a widely available form of funding.  

Companies with an annual payroll of more than £3 million have to pay 0.5% of their payroll into the levy. If you find yourself in this situation then you will receive an allowance of £15,000. This will reduce the amount you have to pay over the year. But, you don't have to pay the levy if your payroll is under £3 million. Yet, you do have to pay 5% towards the costs, with the government funding the remaining 95%. 

Increased productivity

Apprenticeships are a cost-effective way of plugging your skills gap. They can also increase your company’s productivity. In fact, 78% of employers said apprenticeships helped them improve productivity. 

Apprenticeships play a pivotal role in the uptick of productivity for various reasons. Yet, apprentices are quite often ambitious and at the start of their careers. This makes them feel like they have something to prove. This leads to them being hardworking and eager to learn. As a result, they should be able to balance their work alongside the apprenticeship. 

Also, bringing a junior employee in frees up more senior employees. Instead of doing the work themselves they can delegate and supervise the apprentice. This allows them to get on with more serious decision-making. 

Your employees will take on an apprenticeship if they value continued career progression. This means they will like to challenge themselves and take on more responsibility.

Gain a fresh perspective 

Apprenticeships are a learning and development tool. So, you often find, apprentices are entering the working world for the first time. As a result, they see things from a different perspective. This might lead them to present different ideas to those who have been with your company for longer. 

By hiring apprentices who are likely to be a part of Gen Z, you are opening yourself up to a more diverse workforce. Not only does this bring new ideas, but it also gives you access to people who view the world differently. All this enables you to continue modernising your approach. 

Remember, a diverse workforce is necessary to connect to a wider group of people. This can be especially helpful when you are looking to target a specific area of your customer base. and drive interest in a particular product or service. Also, they have grown up with technology. So, they will have no problem using the various programs, software and technologies.

Solve skills shortage

In today’s rapidly evolving world, most companies have a shortage of skills. With apprenticeships, companies can provide the education needed to close their skills gap.  

Apprenticeships are an intriguing prospect for companies. And they no longer come with the same strict content guidelines that they once did. Instead, you can tailor apprenticeships to suit a vacant position within your company. You decide on the core curriculum, which means you set the syllabus. This flexible approach means you can develop the skills your company needs. 

There are a variety of apprenticeship levels available. This allows you to introduce an apprentice who doesn’t have much experience. You can also upskill senior employees so they can take on more responsibility. Either way, apprenticeships are often the perfect solution. They allow companies to solve their skills shortage and maintain a keen eye on the future. 

Future-proof business 

As we know, apprenticeships can act as a short-term solution to plug your skills gap. They ensure that a particular set of responsibilities are taken care of. Yet, they can also prove to be a viable way of future-proofing your business. This is a pathway which ensures longevity. In fact, 75% of apprentices stay with the employer after they complete their course. This means they will continue providing value after finishing their apprenticeship. 

Apprenticeships vary in level and speciality. So, there is the potential for your experienced employees to continue their development. By upskilling within their current positions, your senior employees will improve their skills. This will all be happening under your guidance. So, your company should be able to retain a higher volume of talent. This is especially true for employees who are ready to enter leadership positions. And with this, they can increase their influence and take on more responsibility. 

Do you want to guarantee the long-term stability of your company? If you do, then make sure to have a look at our apprenticeships page. Pareto offers various apprenticeships relating to sales, digital and leadership and management. Utilising our apprenticeships can improve your company's performance and position in your industry.