The Business benefits of having an apprentice

The Business benefits of having an apprentice

Posted by Liam McNally |  15th May 2017

One thing most business owners know about apprentices is that they’re relatively cheap. You can pay them less than non-apprentice employees, especially if they’re in the first year of their apprenticeship. But how much do you know about the other business benefits of taking on an apprentice? You might be surprised to know that there’s much more to it than saving a few pounds on your wage bill.

Expand your skills base

Taking on one or more apprentices is a fantastic way to plug any skills shortages in your organisation. Apprenticeships are tailored to specific job roles, so you can be sure your apprentice will get relevant training. Apprentices also help you to develop the specialist skills you need to keep pace with the latest technology and working practices in your sector – helping future-proof your business in the longer term.

Recruit to suit

With apprenticeships, you really can tailor your recruitment needs to your current and future business needs. Whether you need a marketeer, mechanic, office manager or a care assistant, you’ll find an apprenticeship out there that fits the bill. Once your apprentice is fully trained, their new found skills can be put to good use to helping your business grow.

Keep staff satisfied

Here at Rathbone Training, 80% of employers we work with tell us that having an apprentice reduces staff turnover. For an existing team member, it’s a great way to develop their skills and rediscover their motivation for working for your business – making them less likely to leave. Senior staff members will also enjoy passing on their knowledge and expertise to the younger generation.

New recruits are even more likely to be satisfied and loyal to your company. After all, they’ve embarked on their chosen career path (maybe even their dream job) with your business, knowing that a promising career lies ahead if they succeed in their apprenticeship.

Reduce your recruitment costs

It stands to reason that your recruitment costs will be lower if your staff want to keep working for you. It’s also cost effective to take on an apprentice in the first place – especially if you work with Rathbone Training, as we can help you find suitable candidates free of charge.

Boost your bottom line

A happy workforce is a productive workforce and our experience tells us that 89% of employers find having an apprentice makes their business more productive. Figures released by the CEBR back this up, stating that the average apprenticeship increases productivity by £214 a week. Part of this is due to the fact that learning takes place in the workplace rather than in the classroom, minimising downtime and productivity loss.

Stay ahead of the competition

As young people, apprentices tend to be full of enthusiasm and bursting with fresh ideas. They’re also highly flexible in how they work. All this is great news for your business, giving you a new lease of life in areas such as product and service development, or streamlining your work processes. And that’s why 77% of employers tell us that having an apprentice makes them more competitive!

Take advantage of up to 100% funding

With the new Apprenticeship Levy in place, some businesses can now access up to 100% funding to train their apprentices. (Note that the funding can’t be used to pay apprentice salaries). The highest levels of funding are available for small employers and those looking to take on 16 to 18 year olds. What’s more, you don’t have to pay National Insurance contributions for any apprentices aged under 25.

Any employer who recruits a 16 to 18 year old or 19 to 24 year old with a health care plan will receive a £1000 incentive.

What are you waiting for?

There are so many great reasons why you should take on an apprentice. Contact us today to discuss your requirements and find out how working with Rathbone Training can benefit your business. Call 0330 123 3220 or email employers@rathboneuk.org