The 5th – 11th February, marks National Apprenticeship Week 2024. A week dedicated to celebrating apprenticeships and the positive impact they have on individuals, businesses and the economy.
As an outsourced recruitment team, we’ve supported our clients with hiring apprentices and have seen the positive effect this can have on a company.
In this blog, we’ll share some of the benefits of hiring an apprentice.
National Apprenticeship Week 2024
This year is the 17th annual celebration of apprenticeships.
The theme for this year’s National Apprenticeship Week is ‘Skills for Life’. To showcase how apprenticeships can help individuals develop the skills and knowledge required for a rewarding career.
For companies already offering apprenticeship roles, this is a great opportunity to take part and highlight your business. During this week-long celebration, businesses are encouraged to share things on their website and social media channels and host in-person or virtual events.
National Apprenticeship Week is a great opportunity to showcase your employer brand and highlight those who work for you, the support and training you offer and your stance on training and development.
The benefits of hiring an apprentice
Hiring an apprentice is a great way of introducing new skills to your business.
According to the apprenticeships’ website, 86% of employers said that apprenticeships helped them to develop skills relevant to their organisation.
As apprentices work as they learn, they’ll be able to implement any of their new knowledge immediately. This means that your business will quickly feel the benefits of their new skills.
With a range of new skills and knowledge in your team, your business will be cutting edge in its industry.
Apprenticeships can help to open up a wider talent pool. An apprentice, doesn’t just appeal to those coming straight out of school. This can also be suitable for those looking for a completely different career change.
33% of employers who have signed up for apprenticeship schemes have found that it has improved diversity in their workforce.
Whilst diversifying your workforce, you may also be able to tackle a skills gap, alongside bringing in new ideas and a fresh perspective.
Apprenticeships can be a cost-effective way of filling a skills gap.
If you already pay into the Government Apprenticeship Levy, these funds can be used to arrange and pay for apprenticeship training.
If you’re a non-levy paying business, the Government heavily subside the cost. Helping you to fund a maximum of 10 apprentices.
A further cost saving is employer contributions for Class 1 National Insurance, if they earn under £967 a week and are aged 25 or younger.
In addition, employers are also entitled to a £1,000 incentive for hiring an apprentice who is either:
- Aged 16 to 18 years old.
- Aged 19 to 25 years old and has an education, health and care plan (EHCP) or has been in the care of their local authority.
Increased retention and employee satisfaction
80% of employers reported that their retention rates improved as a result of hiring apprentices (Education and Skills Funding Agency).
As a matter of fact, 65% of apprentices continue working for the company who have trained them during their apprenticeship.
This is because the on-the-job training has given them confidence in their skills, they can see progression opportunities and they have seen the direct output of their hard work.
Those in an apprenticeship scheme can also see how committed the business was to training and development, something that is important to employees.
For more information on hiring an apprentice for your business, visit apprenticeships.gov.uk/employers