Why hire an apprentice
Businesses across London are employing apprentices, with almost 90% of employers reporting benefits to their business. How could an apprentice help you?
- Share training costs with the government – hire a 16 to 18 year old and pay only their salary; the government will pay for their training apprentice grants.
- All employers will receive an incentive payment of £1000 for employing a 16-18-year-old apprentice.this will be paid in two equal payments at 3 months and 12 months.
- It can prove to be more relevant and cost effective than hiring skilled staff, leading to reduced training and agency/ recruitment fees.
- From April 2016, employers will no longer be required to pay employer National Insurance contributions for apprentices under the age of 25 on earnings up to the upper earnings limit.
Improve efficiency and productivity
- Businesses report an average increase in productivity by £214 a week when they hire apprentices.
- 70% reported that apprenticeships improved their productivity or the quality of their product or service.
- 96% of employers that take on an apprentice report benefits to their business.
- 72% of businesses report improved productivity as a result of employing an apprentice.
Fill a skills shortage
- With increasing pressures on companies to retain market positioning and competitiveness, not to mention the difficulties of finding skilled staff, there has never been a more relevant time to be investing in the future of the workforce.
- Training a young worker on the job, enables you to develop a role with the specific skills needed for your business.
- Recent statistics confirm that an apprentice is more likely to remain loyal to their company. This is good for staff continuity and morale and promotes a healthy work ethic amongst the workforce.
- Apprentices tend to be young and eager for success and more motivated and flexible within their role. In a recent study, 92% of businesses said that apprenticeships lead to a more satisfied workforce.
Innovate and grow
- The apprenticeship framework allows businesses across different market sectors to introduce and grow new and talented individuals into their organisation.
- Apprentices produce managers and leaders for your business.
- The whole idea of taking on an apprentice is that you can develop into an effective member of staff is a viable proposition for any forward-thinking business. In fact 82% of employers rely on the apprenticeship programme to provide the skilled workforce they need for the future.
Corporate Social Responsibility
- Play your part in the economic regeneration of London and improve the life chances of young people across the capital.
- Over 100,000 employers in some 160,000 workplaces offer frameworks across a range of industries.
- Last year the government invested 1.5bn in apprenticeships/£1.566 billion government investment in 2013 to 2014.
- The National Audit Office has estimated that for every pound of government investment in apprenticeships, the economy gets £18 back.
- Apprenticeships estimated to contribute £34 billion to the UK economy in 2014.