How apprenticeships benefit employers

Apprenticeships are an increasingly popular option for employers looking to develop their employees and increase their workforce. Not only do they provide valuable learning opportunities, but they can also bring a range of benefits to employers and the workplace as a whole. Some of the main benefits include:

  • Save on costs: Apprenticeships allow employers to train employees while they work, which can be more cost-effective than traditional training methods. Depending on your business size and eligibility, most apprenticeship training costs are either fully or partially (95%) funded by the government, helping you to upskill your team on a budget. The first year apprentice pay rate from April 2023 is £5.28/hr compared to £10.42/hr for an employee over 23. An additional £1,000 funding is available to employers who hire apprentices aged 16 to 19 or 19 to 24 with an Education, Health and Care plan.
  • Customized training: Employers can customize apprenticeships to meet their specific needs, ensuring that the employee is trained in the skills that are most relevant to the company.
  • Improved retention: Apprenticeships can lead to higher retention rates, as employees who have invested time and effort into their training are more likely to stay with the company.
  • Increased productivity: Apprenticeships can lead to increased productivity, as employees are able to apply their new skills on the job from the start.
  • Positive company culture: Apprenticeships can contribute to a positive company culture, as they show that the company is committed to investing in its employees and their development.
  • Positive public image: Employers who offer apprenticeships may also benefit from a positive public image, as they are seen as supporting the development of the workforce and investing in the local community.