A report released by the City & Guilds Group has recently shown that an increase in vocational education and technical skills could help boost the UK economy by £163billion by 2025. This could be achieved with just a 10% rise in the number of 16-18 year olds enrolled in vocational education, such as apprenticeships or traineeships, opposed to following traditional routes of study, such as attending university. This increase would also lead to a reduction in the number of young people unemployed or represented as NEETs (Not in Employment, Education or Training).
This supports previous research conducted by Cebr and the Skills Funding Agency, which showed businesses received a return on investment in training apprenticeships of being between £16 and £21 for every £1 invested. Proof of this investment was shown between 2010 and 2011, when the UK government invested £1.2billion into apprenticeships and saw a total economic impact of £25.3billion.
While celebrating the achievements that apprenticeships and other vocational training paths can lead to, City & Guilds also highlighted the barriers there currently are towards recruiting or hiring an apprentice. There is presently not enough awareness around the benefits of apprenticeships, and the fruitful future it can bring for both young people and businesses alike. The government’s plans to create 3 million apprenticeships by 2020 are well known, and creating awareness of apprenticeships and the successes that can come from them is key to reaching this target. Engaging with employers is paramount to the future; several steering groups have been created and are led by employers to create new standards across the sectors to create apprenticeships designed by the employer to bring the most benefits to them as well as the learner who wishes to have their career in that field.
This research further proves that apprenticeships not only support the learners and employers involved in becoming or recruiting them, but also the economy as a whole.
If you’re interested in becoming an apprentice, or recruiting one, you can contact Aspire Training Team on 01202 551553. Aspire Training Team works with both young people and employers across Dorset, Somerset and Hampshire looking to work in childcare, business administration or health and social care. You can contact the team on 01202 551553 or email email@example.com.