There is no doubt that apprenticeship schemes are increasingly offering a mutual benefit to employers and young talent. For many New and Growing Companies, securing the best young talent will be crucial to their future growth. We take a look at the business case for apprentices as part of National Apprenticeship Week.

In the midst of running your business it can be easy to lose sight of the benefits of employing apprentices. Sometimes businesses can be guilty of looking too much at the short term and not enough at the long term. There’s no doubt that businesses who find the right balance between planning for today and tomorrow stand an even better chance of long-term survival.

Here are just some of the business benefits of apprenticeship schemes to companies like yours:

Improved productivity

Learn Direct claim that apprentices can be worth up to £214 more per week to businesses in terms of greater productivity. An extra pair of hands, no matter how young or inexperienced, can often be the difference between breaking even and long-term profitability.

All smilesEquipping London's next generation with key business skills

 

A tried and tested recruitment channel

For generations companies have used apprenticeships as an effective way of taking on fresh talent, upskilling them to provide not only an enriching professional career for the apprentice but a valuable new member of the team for employers, tackling skills shortages in lean times.

No employer National Insurance contributions for young apprentices

From a purely financial point of view, hiring young apprentices makes good business sense. From last April, those who employ apprentices aged below the age of 25 are not required to pay employer National Insurance contributions (NICs) for them, saving money whilst attracting enthusiastic talent and fresh ideas.

Minimise workplace disruption for maximum workplace impact

With the ability to oversee apprenticeship schemes on-site in your workplace, these schemes don’t result in quite the level of business disruption that many business owners may think. Their senior staff can train apprentices on-site, resulting in optimum benefit for the least amount of workplace distraction.

Roles tailored to the needs of your business

Apprenticeship schemes are never set in stone. They can be entirely tailored and flexible to their needs of your business. If you have a need for a particular type of apprentice, you can simply create a position and find the right individual. More importantly, they equip companies with skilled workers for the future.

Foster the next generation of entrepreneurs with initiatives such as InspiresMe Week

Not only can your business benefit from exciting young talent and a fresh perspective on how you do things, as employers you can do your bit to inspire entrepreneurship and help young people develop professional skills that will last a lifetime.

At Workspace, we’re proud to have worked with Business in the Community and the Greater London Authority to deliver InspiresMe Week – a unique week-long programme which gives young Londoners valuable opportunities to learn, gain work experience with participating businesses and develop the skills they need to compete in the world of business.

The Workspace team was delighted to host students for the InspiresMe Week programme in February 2017. Krishan was just one of the many students who spent four days on-site with the Workspace internal team. Krishan spent much of his time investigating Energy and Sustainability with Workspace’s Energy and Sustainability Manager, Karen Jamison.

At the end of an action-packed week, Krishan said: “My experience at Workspace for InspiresMe Week has been really pleasant.

“I have got to learn new skills, met very friendly people and get a feel of what the working environment is like.

“It has been an amazing experience for me and I very much enjoyed it and would recommend it to younger people who wish to develop a future career for themselves and are motivated to learn.”

If you’d like to know more about the InspiresMe Week initiative click here to check out our hub page and discover this exciting opportunity for small businesses to gain access to the fresh insight and enthusiasm that working with a young person can bring.