The benefits of apprenticeships for employers

Professional apprenticeships – for both new members of staff and existing employees – are a cost-effective way for your organisation to grow talent and develop a motivated, skilled and qualified workforce. With apprenticeship benefits ranging from bringing new skills into the business to improving productivity, it’s no wonder they are becoming such an attractive option to employers. Let’s take a look at some of the advantages of apprenticeships and find out how you can utilise them as a strategic solution to business challenges and to support your organisation’s objectives.

What are the benefits of hiring an apprentice?

Your organisation could take advantage of a range of apprenticeship benefits, including:

1. Government funded training 

Introduced in 2017, the government Apprenticeship Levy requires all businesses with an annual pay bill of more than £3million to make a monthly contribution to a centralised ‘pot’ of money which can then be accessed by businesses to finance training opportunities. If you are already paying the levy, why not make the most of it? Levy funded apprenticeships help you maximise your return from this business cost, allowing you to access this government funding to pay to upskill your employees. What could be better than developing the skills of your workforce and transforming your organisation through funded workplace learning programmes at a fraction of the cost of paying for the training out of pocket? You may also be able to get an additional £1,000 to support your apprentice in the workplace if they are 16 to 18 years old, or 19 to 25 years old and either have an education, health and care plan, or used to be in care.

2. Widening access to professions and diversifying your workforce

Professional apprenticeships offer a more accessible path into certain careers, such as becoming a solicitor or other legal professional, when compared to more traditional routes. The fact that apprenticeships offer individuals the chance to earn while studying for a professional qualification makes them an attractive prospect to a broader range of people, allowing you to recruit candidates from more diverse backgrounds. By widening the talent pool, not only will you be championing inclusion and social mobility in your hiring and promotions processes, you will also bring fresh minds and new ideas into your organisation, in turn driving positive change and fostering a more inclusive culture. This is supported by research which shows that around three quarters of employees believe the apprentices within their organisation have helped them to improve the quality of the products or services that they offer.

3. Tailored training that meets your business needs

With 86% of employers saying apprenticeships have helped them develop skills relevant to their organisation, it is clear that apprenticeships offer a valuable opportunity to train individuals based on the specific needs of your business. This makes them a great alternative to more traditional forms of learning which tend to be more generic or only offer specialisation down to an industry level. Professional apprenticeships are also a great way to develop employees who not only excel in their job role, but also understand your organisation and its culture. Here at BPP, for example, we collaborate with you to design tailormade apprenticeships that precisely match your business requirements to ensure the benefits are felt across your entire organisation from day one.

4. Improved staff retention

A survey by the National Apprenticeship Survey found that 69% of companies reported improved staff retention rates by hiring apprentices. On the whole, apprentices tend to be very loyal to the business and more motivated to learn new skills than other types of employees. Given the financial and time costs involved in hiring and training new staff, any efforts which can be made to improve staff retention can be a valuable exercise for businesses, potentially offering huge cost savings each year. 

5. Continuing professional development for existing employees

Employees who feel supported in their professional development are more motivated at work and tend to give more to their jobs. Giving your people the chance to learn new skills will help to boost their satisfaction which is great for them as individuals but also has benefits for you as a business. Research shows that not only are happy employees more productive and perform better, they are also more likely to stay with the company. This is great for businesses looking to improve talent retention (particularly for competitive roles with sought-after skills) and, in turn, enjoy the time and cost savings of not having to recruit to fill roles as often.

6. Developing new skills in your workforce

Professional apprenticeships help you to develop a workforce with the skills your business needs, in turn increasing productivity and improving business performance. Offering a unique blend of on-the-job and classroom-based learning, apprenticeships help you unlock talent within your organisation so that employees can make valuable contributions. Even better, the practical nature of apprenticeship programmes enables you to upskill and reskill employees in a much shorter space of time so that you can close any skills gaps more quickly and futureproof your talent pipeline.

7. Boost productivity

Professional apprenticeships can drive smarter business performance while also delivering business value. Due to the training apprentices receive, the minimum wage for a first-year apprentice is less than that of a standard employee. This means that hiring an apprentice can be a cost-effective way to increase the number of employees in your business, allowing you to boost productivity without a huge jump in costs. Similarly, existing employees who join a professional apprenticeship are also likely to deliver a boost to workplace productivity, applying their newly learned skills, knowledge and training to streamline processes, implement new ideas for more efficient working, and perform tasks to a higher standard. This is supported by research which shows that 78% of businesses found their productivity increased as a result of hiring apprentices and 74% of employers said apprenticeships have helped them improve the quality of their product or service.

8. Delivering knowledge and skills with instant impact 

Professional apprenticeships are a fantastic way to address and close any skills gaps quickly. With on-the-job training and flexible learning delivery, apprenticeships minimise disruption to daily operations within your business. Plus, with BPP, our experienced tutors ensure learners are fully confident when using their new skills and knowledge in the workplace, meaning you can see the impact of training from day one and start to gain value from apprenticeships in a short space of time. 

So, is it worth considering apprenticeships?

With promises of increased productivity, fresh ideas and reduced recruitment costs, the advantages of apprenticeships we have outlined in this article make them seem like a very attractive option. And it’s true – hiring an apprentice can deliver a broad range of qualitative and quantitative benefits for your business but, as with everything, it is important to remember there are two sides to the story. Keep in mind that hiring a new apprentice or enrolling an existing employee in a professional apprenticeship will also require a level of commitment from you as a business, such as providing on-the-job training and allowing your apprentice time away from their day-to-day duties to complete their formal qualifications during working hours. Despite this, the majority of employers agree that the advantages of apprenticeships make it worthwhile.

How can BPP help your business?

BPP can provide all of the above, and more. With over 45 apprenticeship standards on offer, we help you upskill and reskill employees across your entire organisation, supporting career development at any stage with our comprehensive range of programmes across accountancy and tax, data and digital, law, leadership and management, financial services, actuarial, and nursing.

For more information on how to recruit or upskill your employees through apprenticeships, view our programmes or contact one of our BPP advisors on 03300 603 100.