Apprenticeships are a cost effective way of helping your organisation grow, whilst improving productivity and profitability.
How much will it cost?
The Government introduced a levy for apprenticeships in April 2017. Alongside PAYE contributions, employers with wage bills of more than £3m will now have to pay 0.5% of their wage bill into an electronic account, regardless of whether or not they employ apprentices. The Government will use this to fund the cost of apprenticeship training and assessment.
For those employers with a wage bill of less than £3m, other changes have been introduced, including a requirement for some employers to contribute towards the cost of training and assessment.
For more details, take a look at Apprenticeship Reforms and the Levy.
What are the benefits to me as an employer?
- You can maximise the benefits of the Government's Apprenticeship levy through effective recruitment and succession planning.
- You can develop a competitive advantage by ensuring your employees have specialist knowledge and skills relevant to your organisation.
- Trained employees feel more valued and motivated, and will therefore improve your workforce retention.
- Apprentices can bring new ideas and innovation to your business.
How much time do apprentices spend away from work?
Training is flexible and can often be delivered in the workplace. For a number of apprenticeship programmes day release may be necessary; for others day or evening release may be appropriate.