It has been reported that UK businesses consider skills shortages and recruitment difficulties a bigger threat to performance than soaring oil prices and declining consumer spending, with more than a quarter rating vocational work-based training higher than any other qualification. With relatively low wage costs and grants available, Apprenticeships are a very cost-effective way of recruiting new talent or training your existing workforce.
But cost is not the main benefit. The real lasting benefit of taking on an apprentice comes with the opportunity to take on a young person who you can grow and mould into a motivated and committed employee with the skills your business really needs. They tend to be eager, highly motivated, flexible, and keen to learn new skills.
Apprenticeships can also be a way of filling positions where there is a shortage of skilled workers or developing your own managers and leaders of the future rather than recruiting from outside the business.
Research by the National Apprenticeship Service shows taking on an apprentice delivers real bottom line benefits, with the majority of employers reporting increases in productivity, lower costs, and higher profits.
Further benefits reported by the majority of employers include, improved productivity or services, new ideas being introduced into the organisation, better morale among staff and lower staff turnover.