Investing in the Future: The Business Case for Apprenticeships

There are several different routes you can take to upskill your workforce. You can mentor and coach your employees and put them through training courses. But, there’s one option, which provides a structured, but flexible approach to learning.

Apprenticeships provide a unique education pathway. They allow employees to gain real-life work experience and earn money at the same time. Yet, apprenticeships aren’t only beneficial for employees, they are valuable for employers. Here’s how investing in apprenticeships can be beneficial for your business.

Increased Productivity

There’s an outdated view that apprentices don’t work on real projects. Yet, this is a flawed perception. Apprentices only become more capable as they progress through their chosen course. Apprenticeships provide a huge range of learning experiences. And this can have a positive impact on a business's productivity.

During their courses, apprentices gain practical experience alongside theoretical knowledge. This allows a business’s employees to upskill and refine their skills. This means the employees can take on a wider range of tasks. In turn, this allows senior employees to be more involved in the day-to-day running of the business. They will make more decisions, influencing the strategic direction of the business. And with more capable employees below them, the business can reach its full potential.

Increased Innovation

Hiring apprentices can result in a more diverse workforce. Your employees will likely consist of different backgrounds and age ranges. This will bring a variety of fresh perspectives. As a result, you may find apprentices have new ideas that senior employees haven't come up with before. A diverse workforce also means you’re able to connect with a wider client base. And this is essential if you’re looking to expand your reach as a business.

Apprenticeships encourage a continuous cycle of learning and development. This allows your workforce to adapt, allowing your business to meet the demands of the market. A culture which inspires learning means your employees will continue to improve. They will stay up-to-date with industry trends and the latest technology. This will allow you to remain ahead of the competition, making you an industry leader. So, not only does this approach increase productivity, it makes you more innovative.

Solves skill shortages

As the digital world continues to evolve, technology is developing at a rapid pace. Because of the changing landscape, there’s a lack of talent available with the right skills. As a result, companies are struggling to adapt to the digital age.

Apprenticeships provide companies with a pathway to close their skills gap. What's more, apprenticeships take a flexible approach to learning. You can specify the core curriculum of each course. This allows you to tailor an apprenticeship to a certain area of your business.

As technology develops, you are likely to face a digital skills shortage at some point. But, as apprentices, your employees can gain the skills they need to be effective in their roles. And this is something which will continue to contribute to the growth of your business in the future.

Cost-Effective

It can be hard to find specialist talent. And when you do find them, there are often significant costs involved. There are recruitment costs and a high salary to think about. But, your new hires might also require training to learn how your business and industry work. With all the costs that come with hiring and training, no one can blame you for seeking a cheaper approach. And this is where apprenticeships can work as a solution.

Apprenticeships are government funded. This is due to the educational value they provide as well as their ability to upskill employees. So, apprenticeships are far more cost-effective than they might seem. This is somewhat down to the apprenticeship levy, which is funding a lot of businesses can access.

So, not only do you receive funding for apprenticeships. But, those fulfilling entry-level roles have less experience, so they expect lower salaries. This allows you to save money while still preparing your business for the future.

Improved Retention and Employee Loyalty

Most employees are ambitious and want to see themselves progressing in their careers. That means, if they don’t see a path forward with your company, they may end up leaving for new opportunities. You can stop this from happening by offering structured training programs. Providing these opportunities will show that you care about the development of your employees. And this will help you attract and retain top talent.

Apprenticeships are training programs which allow you to upskill experienced employees. With time, the apprentices will gain new skills, allowing them to be more efficient in their roles. They will also become more knowledgeable within their chosen fields. This approach will give them a better understanding of your industry and market. This will allow your employees to rise to higher positions within the company.

Seeing various colleagues move up the career ladder will motivate apprentices. This will prompt them to take their development seriously. And this will lead them to future promotions. So, apprenticeships allow you to improve employee retention. But, they also help you save money on recruitment.

Positive Company Reputation

Providing apprenticeships for your employees boosts your reputation as a company. It shows your desire to nurture talent and promote career development. This attitude demonstrates your commitment to corporate social responsibility (CSR). You will be seen as a company that invests in younger generations, developing future talent.

Apprenticeships allow you to support education and reduce unemployment rates. This will allow you to build relationships with local communities and government bodies. They will begin to recognise you as a company that promotes learning and development. But, investing in apprenticeships goes beyond boosting your reputation though. They allow you to develop talent, plug your skills gap and future-proof your business.

Do you want to invest in the future of your business? We offer a range of apprenticeships that you can make use of to upskill your employees. Our apprenticeships cover a variety of fields. This includes sales, leadership and digital and IT. Head over to our apprenticeships page for more information on our apprenticeship offerings.