To kick off National Apprenticeship Week 2015, the Centre for Economics and Business Research have released a report revealing that collectively, UK businesses could gain an extra £18bn in revenue just by taking on apprentices.
The benefits of offering an apprenticeship are plentiful. According to this report, five million consumers are more likely to spend their money with an organisation that offers apprenticeships. Also, one in four claimed they would actually pay more for goods offered by apprentice employers. These figures offer a startling insight into kudos and repute that being an apprentice provider can bring to a company. So alongside these, what other benefits are present?
With many industries – namely construction and engineering – crying out for employees with the right skills and qualifications, it falls on companies to offer training in order to turn keen candidates into the skilled individuals they need to support their business. There’s a lot to be gained from offering training programmes and apprenticeships and producing candidates at the end that have the right credentials for a role in your company. It leaves a great talent pool to recruit from and helps to solve the skills gap issue.
As the entire aim of taking on an apprentice is to provide them with work specific skills, it’s an ideal entry route into the areas where you need the most help. Moreover, apprenticeships can be a great way to train up existing employees to make yours a more skilful workforce.
96% of businesses that have taken on apprentices have reported benefits to the company as a direct result of it. Whether this is through financial gain, increased business or an improved image for the company.
If it could be for you, there is government help available as well as grants to help you take on your first apprentice. To find out more, click here.