The Middle Ages are where apprenticeship schemes were first seen; master craftsmen would employ a young person as an inexpensive option of labour and the young person would learn the trade well enough to go on and do it themselves of work for the master craftsman.
We are pleased to confirm that apprenticeship schemes have come a long way since then; according to research by gov.uk 491,300 young people began an apprenticeship between the years of 2016 and 2017. 24.6% of these apprentices were aged 19 years old and below. While these figures may seem impressive, it’s a mere drop in the ocean of the 5.5million private sector businesses in the UK.
So why should businesses consider hiring apprentices? We have put together just some of the benefits of hiring an apprentice for your business, have a look and see what you think;
The Financial Benefits of Hiring an Apprentice
Hiring apprentices can help your business prosper in the short term, but you’ll also find that the government will offer contributions towards the training of the apprentice. If your pay bill is under £3 million a year you only need to pay 10% towards the cost of training for your apprentice and the government will make up the other 90%.
On top of this saving, research shows that apprenticeship schemes can actually help increase profit for your business too. The National Apprenticeship Scheme reports that business productivity averages a £11,128 increase per year for each apprenticeship completion. As well as this a report from the Centre for Economics and Business Research revealed that consumers prefer to do business with a company that employs and supports apprentices which equates to an additional £18 billion spending per year.
Fresh Eyes on Your Business through Hiring an Apprentice
A fresh pair of eyes on your business is a brilliant thing; while experience is important for some roles a fresh approach to the business is essential in today’s competitive market. The youthful exuberance and willingness to learn can inject a fresh dynamic into your business which can boost the whole workplace, but they will also come with a whole range of new ideas and thoughts.
Shape the Future by Hiring an Apprentice
Perhaps one of the most satisfying reasons for hiring an apprentice is the chance to have an active role in shaping, developing and nurturing the next generation. This will play a huge role in driving the future of the economy as you are creating more skilled employees for the future of your industry.
You’ll be able to pick the best local talent from a selection of amazing students and this will help you build a close-knit environment which will in turn help improve staff retention and satisfaction levels within your workplace.
As a business, offering apprenticeship opportunities in your workplace will undoubtedly how improve the way you work and help create a strong working environment. It will also give a young adult the opportunity to learn new skills and gain a qualification while getting paid.
Thinking of hiring an apprentice? Contact our team today on 01223 855440.