Despite their amazing benefits the number of apprenticeship starts dropped by 40% this year. New rules have made apprenticeships a little trickier for employers meaning some have been put off trying it out or expanding their current apprenticeship programmes. Despite this apprenticeships have incredible benefits for your business. Here are five reasons why apprenticeships are a great investment.
Business which employ apprentices can attract talent from a wider pool, including people from all socioeconomic backgrounds, as well as individuals from the older generation and those who find it difficult to find work due to disability. If this isn’t enough of a good in itself, there are many fantastic benefits to a more diverse workforce.
Plug the skills gap
If you have a skills gap in your business or industry, you can train apprentices to fill those exact skills gaps and tailor the training to their role as well as future responsibilities.
Increased loyalty, engagement, and retention
Much like employers that offer a lot of learning a development opportunities, apprenticeships result in a better employee experience leading to increased loyalty and engagement, both of which mean an employee is likely to stay at your organisation for longer.
Increase loyalty, engagement, and retention
Data from the National Apprenticeship Service has found that more than half of employers offering apprenticeships say their apprentices stay with them longer than other employees. This is due to the fact that apprentices get to build their skills from the floor up and feel that the company is invested in their development.
Shake things up
There’s nothing like new blood to shake things up in your organisation, and the energy apprentices bring can be infectious; 92% of employers who employ apprentices believe that apprenticeships lead to a more motivated and satisfied workforce!
It’s also good for new business, 76% of apprentice employers polled say they promote their apprenticeship credentials when pitching for new business or talking about their company.
Apprenticeships might be a bit more difficult to provide nowadays, but the benefits of apprenticeships for employers make it undeniably worth the effort!