Apprenticeships have become increasingly popular in the last few years, both apprentices and employers are seeing the benefits of the scheme. Not only is the apprentice gaining from the experience, employers are too. It’s a mutually beneficial relationship which helps the apprentice learn and develop new skills that directly improve the business; helping both to grow.
Below, we take a look at our top 5 benefits of hiring an apprentice.
1. Increased Retention Rates
One of the biggest problems employers face is loyalty. Training staff is a time consuming and costly process. It therefore pays to keep that member of staff for as long as possible, in order to avoid having to start over with a fresh new face.
Statistics show that hiring an apprentice will positively affect your retention rates. Apprentices tend to be more committed to the organisation that trained them and taught them their skills. They tend to be happier employees, who feel a sense of gratitude for the opportunity they’ve been given, which in turn is reflected with loyalty.
2. Secure the Best New Talent
The majority of apprentices are young and fresh out of education, they are looking for the career path they will be following on their journey into adulthood and beyond. Not only do you have the chance to find the best new talent, you also have the chance to train them in the way your company operates, developing them into perfect employees, who have not picked up bad habits or techniques anywhere else.
Developing high calibre staff that understand your business, processes and procedures is perhaps one of the best reasons we can think of to hire an apprentice.
3. Enhance productivity
An apprentice will free up the time of your more experienced team members, providing an extra pair of hands. Other members of the team will be able to delegate tasks to free up their time to concentrate on their own core responsibilities. As an apprentice learns, they are able to take on larger tasks, meaning that productivity can increase all round.
4. Improved Service & Reputation
The above-mentioned points all lead in to number four. With you existing staff felling happier because they have more time and apprentices that are trained in the company’s customer service mantra and are enjoying their position, everyone is content. Happy staff work harder and smarter. Utilising apprentices within an organisation improves the service.
In a survey commissioned by the government in 2017, 86% of employers reported benefiting from ‘the development of skills relevant to the organisation’ by hiring apprentices.A further 75% felt that the apprenticeship scheme had ‘improved productivity, quality of products or services, and staff morale.’
Companies that hire apprentices are viewed as forward thinkers, who are helping people to learn and grow, which in turn also helps to improve the reputation of a business.
5. Save on recruitment costs
Anything that saves money is a positive, right? Hiring fully qualified members of staff costs far more than hiring an apprentice and allows you to upskill existing employees.
Larger companies have already been contributing to the government’s apprenticeship levy meaning they can use the funds in the account to pay for apprenticeship training and assessment (up to a funding band maximum).
Smaller businesses who are non-levy paying can share the cost of the apprenticeship with the government, so it’s a win-win for everyone.
Finally, we return full circle to our first point. Taking on new staff is a costly process, so, by hiring apprentices, who are loyal and continue to work for you for many years to come you are reducing future recruitment costs.
The Oxford College of Apprenticeships offer a range of apprenticeship training programmes. If you would like to discuss them with us in more depth, we would love to hear from you. You can call us on 01865 515 255, send us an email at email@example.com, or fill in a contact form.