Thinking about taking on an apprentice?
Here are some reasons why it could be beneficial to your business
National Apprenticeship Week reminds us each year of the benefits of hiring an apprentice and supporting a young person at the start of their career.
For many small business owners, who are already facing substantial pressures, taking on an apprentice can be seen as another admin headache for owners and managers. However, at a time where businesses are facing talent shortages, hiring an apprentice can be very rewarding. In this article we go through the top reasons why business owners should consider apprenticeships.
1. Tackle a skills shortage
Two years into the pandemic, and many businesses are struggling in what has been dubbed the ‘Great Resignation’ as employees reassess their career plans. Apprenticeships can be a great way to fill any skills shortages. Indeed, according to the Institute of Student Employers a quarter (23%) of companies plan to rebalance their hiring strategy to hire more young people from school, in order to help fill their current skills shortage.
2. Create a talent pipeline within your business
Not only can apprenticeships help to fill any current skills gaps in your organisation, but they can be a good way to future-proof your business too! According to government statistics 65% of apprentices stay working for the company that trained them after completing their apprenticeship. And what’s more 69% of employers say that employing apprentices has helped to improve staff retention across the board.
3. Gain a new perspective
Apprentices, more often than not, will come from a different, younger generation, and therefore will bring with them different experiences and points of view to their work. This can help idea generation and innovation within your business. In addition, apprentices will often learn new techniques and systems at their formal training sessions that they can bring back and introduce into your business.
Apprenticeships can also be an effective route to improving diversity within your business. Plus, a recent McKinsey report found that companies that focus on racial and ethnic diversity are 36% more likely to have stronger financial returns than the average.
4. Boost productivity
Apprentices can help to boost productivity in a workplace, both by bringing in new skills or ideas and also by contributing to the culture of an organisation. 74% of employers said that an apprentice improved products or service quality, while a further 78% said that they improved productivity. What’s more 73% of employees say that having an apprenticeship improved staff morale.
5. Support the local community
Offering an apprenticeship helps to boost jobs in your local area, particularly for those people who might not necessarily want to or be able to go onto higher education. This in turn can benefit your own business’ success. A quarter (25%) of consumers are willing to pay more for products from a business that employs a business and 67% of employers say that employing apprenticeships improved their business image.
To find out more about Close Brother’s own apprenticeship programme click here.