An apprenticeship is just as beneficial to the organisation playing host to the student, as is to the student themselves. We’ve previously talked about how beneficial apprenticeships are for young people.
Not only because of the dual benefit of earning a qualification while working, but to support society and job employability in the UK, helping our young people step foot into an industry they are passionate about.
But, there are also many benefits to employers advocating for apprenticeships and hiring young people into their business every year to provide coaching, mentoring, and a safe space to learn.
If you haven’t heard, then we’re about to reveal the big secret.
The benefits of apprenticeships for employers
1. Hiring new talent into the business is key to growth
We don’t need to tell you that the tables don’t keep turning unless you hire new talent into the business. Fresh perspectives and ideas can help you redesign processes, approach problems from different angles and help to see the world from different perspectives. This has a notable effect on marketing, particularly given the world is more connected today than ever.
When we’re thinking of new talent in marketing, it is also essential to recognise the speed at which technology and skills change. As a result, it makes sense to employ and train those whose skills in this area are second nature.
2. Apprenticeships Improve talent attraction and retention
Earning a qualification alongside the role is a real selling point of apprenticeships for forward-thinking candidates and will help to attract apprentices who are keen learners. This attitude towards learning and proactiveness is an asset for any employer. The reason apprentices are then more likely to stay within an organisation is for the clear career progression and structured development, resulting in fulfilled employees and higher staff retention rates.
3. The employer will receive industry-leading skills and behaviours
The new apprenticeship standards are industry-led and developed by employers in the sector. This means that practitioners are developing course content that provides real-life, practical skills to help the apprentice move forward in their career, and supporting their business to implement these new skills. This means that the skills and behaviours developed by the apprentice are the best in the industry, resulting in a company that remains competitive.
4. Employers can make use of government incentives
The Government offers employers an incentive of £1000 to hire an apprentice aged 16 to 18 years old, or an individual between the ages of 19 to 24 who has an education, health and care plan or who has been in the care of their local authority. This encourages more businesses to support apprenticeships and the UK economy. How can you say no to that?
5. Employers can save on National Insurance contributions
Something not all employers know is that there are additional savings to be made. For example, if the apprentice is younger than 25 and earns below £827 a week, employers don’t have to pay class 1 National Insurance contributions. The apprentice will still pay their share, but this money saved is a bonus for the employer.
So, all in all, apprenticeships create numerous benefits and opportunities for a single organisation and do you know what, it’s not a secret. This is widespread knowledge that some organisations have yet to explore. Think of apprenticeships as an investment in your people and business.