How offering apprenticeship schemes can benefit your company

It’s the world’s worst kept secret that there’s a lack of skilled workers in the UK. Both the government and companies across multiple industries are beginning to realise this and are recognising the need to invest in the next generation of workers to help fill the gap: particularly through apprenticeship schemes.

Apprenticeships combine work and study, with individuals taking them typically spending most of their week in a formal work environment, alongside attending external training programmes.

Offering apprenticeship schemes in your company is an excellent way to train up new and talented young workers that could raise the potential of your business and boost productivity. For more insights, read on to find out how offering apprenticeship schemes can benefit your company.

Recent findings

A recent survey conducted by CV-Library has suggested that the public feel strongly about the value of apprenticeships. In fact, nearly three quarters (74.1%) of Brits said that they would choose to do an apprenticeship over a degree.

What’s more, 53.5% believe these schemes are better for your career prospects than a University degree. The survey of 1,200 UK workers also revealed that while 76.1% of Brits haven’t done an apprenticeship, 93.9% believe an apprenticeship can provide a worker with the skills needed to succeed in their career. Other key findings from the study include:

  • 91.2% think more can be done to promote these schemes, with 45.8% stating that it’s down to the government

  • What’s more, 27.3% believe more information should be provided to students in education and 26.9% would like to see more businesses promoting these schemes at careers fairs

Future-proof your workforce

Apprentices can be hugely beneficial for companies that are looking for long-term hires. While there’s a lot of skill development and training involved in the first couple of months, an apprentice will still be part of your workforce and will contribute to your company’s productivity.

What’s more, offering an apprenticeship scheme at your company means you’re invested in the next generation of talented employees and are integrating them into your workforce. Nurturing talented workers will build loyalty and ultimately help with business growth.

Save money

What’s more, offering apprenticeship schemes can be a cost-effective hiring strategy for your company, easing the financial strain of hiring an already-skilled employee.

In fact, these schemes are government backed, meaning the cost of employment and training is split between them and your business. You’ll typically pay an apprentice a minimum wage of £3.70, which will increase once they’re fully qualified.

Bridge the skills gap

Our findings also found that a staggering 94.6% of professionals think apprenticeships can be helpful for bridging the skills gap.

As we all know, the UK is facing a massive skills shortage and there aren’t enough workers available to meet demand. When it comes to your recruitment efforts, you might find that talented and adequately skilled employees are harder to come by.

But many employers are recognising that apprenticeship schemes can help to develop young people’s skills and get them trained up earlier on in their careers. As such, if you’re finding it difficult to source skilled candidates, why not try investing in an apprentice instead?

Improve the local economy

While apprenticeships have endless benefits for your company, they can also help improve the local economy. By creating more job opportunities for young people in your area, you’ll help to increase the number of skilled workers in the industry and offer them more opportunities.

Will you consider offering apprenticeship schemes at your company?

Regardless of what industry you’re in, offering apprenticeships is an effective way to boost your workforce in the long-run. They’re becoming increasingly popular as well, which should act as encouragement for your company to offer up these schemes.

Just last week the marketing industry achieved a huge breakthrough with two apprenticeship schemes being officially government approved. The Chartered Institute of Marketing worked alongside British Airways, Clarks and BT to create the scheme, a Level 4 marketing executive and a Level 6 marketing manager programme.

With even the most unsuspecting industries beginning to create these programmes, ask yourself one question: what’s stopping you from offering an apprenticeship scheme?

For the most up to date information on the UK job market and the latest recruitment trends, check out CV-Library’s Recruitment Insight pages.

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