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What are the benefits of having an apprentice in the business?
Apprenticeships have grown increasingly popular over the last decade, with a reported 285,000 apprenticeships starting between August 2018 and March 2019 alone.
Offering a multitude of benefits to students, apprenticeships allow students to earn a wage while they learn new skills, gain valuable work experience and work towards obtaining a recognised qualification.
However, it isn’t just students who can benefit from apprenticeship schemes, as there is a range of benefits for employers too, and more and more household names from the business world are recognising the value of hiring apprenticeships as they offer apprenticeship schemes.
So, how could hiring an apprentice benefit your business?
Bridging the skills gap
Having grown up with mobiles, tablets and laptops within arms reach at most times, new developments around social media and IT are second nature to 18-25-year-olds who can use their expertise to offer your company a new edge and drive your business forward.
Training specifically for your company
While hiring a new member of staff who has years of experience from other companies is beneficial as they will already have the skills and knowledge required, an apprentice offers you a blank canvas to mould – and they also won’t have to readjust to the way that your company operates as a non-apprentice would.
Recruiting new staff is costly and can come with risks and sometimes a large fee if a recruitment company is involved, however, the government will often offer funding for apprenticeship schemes meaning that your financial outlay is minimal.
In a study conducted by the University of Warwick Institute of Employment Research, it was found that the costs of apprenticeship training are recoupled relatively quickly and that where the investment is nurtured, the returns are significant.
Positive long-term development
Taking on apprentices can help you improve the range of skills you have within your organisation. It also encourages you to look at the way you do things because you are passing on your knowledge and expertise to people who are keen to learn the trade or business, enhancing your own skill development too.
Help staff retention
In addition to helping you to add the right kind of skills you need for your business, employing an apprentice can also help staff retention. In a recent survey, 74% of companies surveyed said that apprentices tended to be more loyal when compared to non-apprentices.
Do you want to know more about apprenticeships and how an apprentice could enhance your business? Get in touch with Aspiration Training