Right now, you might be thinking that employing an apprentice is the last of your concerns. There are, however, so many benefits to hiring an apprentice that could actually help your business grow, even through these trying times.
Where do you begin is the question? Great news is we’ve got some tips for those who have identified the need for a business apprentice within their team.
It’s important to consider how many vacancies you have and what level of apprenticeship would fulfil the needs of your business. Apprenticeships have different levels which are roughly equivalent to the following:
– Intermediate: level 2 (5 passes at GCSE grades A-C).
– Advanced: level 3 (2 A level passes)
– Higher: levels 4,5,6 and 7 (foundation degree and above)
All apprenticeships involve on-the-job training and coursework. Your apprentice will be asked to complete assignments and will be visited by their assessor regularly to check on their progress. It’s the job of a training provider, in this case Aspire Training Team, to help structure the delivery of the apprenticeship and support your apprentice to gain their chosen qualification.
What are the benefits?
There are lots of benefits of employing an apprentice, such as improving your reputation in the local community and getting your business noticed! Research has found that 67% of consumers agree that offering apprenticeships is “a key part of a company engaging with, and contributing to, society”
Apprenticeships are a great way to train an employee cost effectively, whilst supporting the day to day running of your business. Apprenticeships receive the National Minimum Wage, however there is funding help to cover training costs. If you employ a 16 to 18-year-old, the cost of their apprenticeship training is met in full by the Government.
For many businesses it can be difficult to fill a position with the right candidate, and apprenticeships are a fantastic way to fill skill gaps amongst your work force. As a mentor and employer you’ll be able to guide your apprentice to be the kind of employee who aligns with your company from day one, and structure their learning to assist with fulfilling your business goals and objectives.
There’s evidence to suggest that employing apprentices can improve the productivity of the companies they work for. Studies have shown that each apprentice enables a productivity gain of more than £10,000 per year, with 76% of employers seeing productivity improve after hiring an apprentice.
As an employer, you’ll be responsible for drawing up an apprenticeship agreement between your business and your apprentice. You’ll be required to pay the National Minimum Wage, which varies depending on the apprentice’s age. The current wage for apprentices aged 16-18 is £4.15 per hour.
The ESFA funding rules state that employers must provide at least 20% “off-the-job” training to their apprentices. The core focus of this training is to teach the apprentice new skills. You must ensure that this training equates to 20% of the apprentice’s contracted working hours. Click here to find out more about what this training entails.
Apprenticeships are incredibly beneficial to both school leavers and existing employees, equipping them with the skills and knowledge they need to progress in their career. However, apprentices are also a valuable commodity for employers and this is why so many organisations are hiring them.
There is now more funding available to businesses than there ever has been before. Not only is there majority funding for the cost of apprenticeship training, if not all of the costs for small business, there are now new incentive payments to be paid directly to business to use as they see fit.
At the same time as introducing these new financial initiatives to encourage employers to take on apprentices the government has also launched the new Digital Apprentice Service Account to allow employers to easily control all apprenticeship funding and incentive payments in one online portal.
If you hire a new apprentice between 1st August 2020 and 31st January 2021 then value of the incentives currently stand at £2k for hiring a new 16-24 year old apprentice and £1.5k for an apprentice aged 25 and over. This is in addition to the £1000 you will already receive for hiring an apprentice aged 16-18 years. DON’T MISS OUT!!
Delivering quality Apprenticeships and Training across Dorset, Somerset, Wiltshire, Devon and Hampshire, in Childcare, Business Administration, Leadership and Management, and more. With offices in Salisbury, Taunton, Bournemouth, Portsmouth and Plymouth.