Apprenticeships are a nice way of growing your own workforce to suit the purpose of your business for effective service delivery. Whatever industry you belong, apprenticeships can deliver a range of benefits. Having apprentices as part of your personnel will help to
- Smooth out recruitment challenges, hence strengthen the business
- Populate your workforce with young talents and ambitious, upwardly mobile personnel with current
- staff exuding creativity, drive and enthusiasm
- Provide tailored training specific to the business
- Reduce staff turnover and helps your business to acquire and retain the skills it needs to drive its goals.
In summary, apprenticeships work for your business.
Funding for apprenticeship training
Apprenticeship refers to those who gain employment in a specific profession without the skills, knowledge or behaviour expected of the profession and therefore receive on-going training in other to become competent.
In Funding rules, though Apprentices are your staff or employees they must spend 20% of their time in formal training part of which is provided within the workplace. You may wish to engage a training provider to deliver the training.
Funding may be received from the government to cover some or all of the costs of training and assessing an apprentice. The amount of funding you can get will depend on whether or not you pay the apprenticeship levy and other circumstances.
Levy paying employers pay 5% of their total employee salary bill into their digital account while the government tops it with 10% of the amount
For SMEs, those paying below three million pounds in salary bill, the amount of funding you get will depend on the circumstances regarding the apprenticeships. However, the following conditions apply
- the government pays 90% of the training and assessment costs for the apprenticeship (up to funding band maximum)
- £1,000 grant will be paid to any Employer who takes on a 16 to 18 year old or 19 to 24 year old who has previously been in care
- businesses with under 50 staff will also see 100% of training and assessment costs paid for if they recruit an apprentice aged 16 to 18
- further support is also available for Employers who take on those with additional learning needs
Approved study program under apprenticeship scheme are:
- Professional Accounting Taxation Technician
- Assistant Accountant
- Accountancy Taxation Professional
- Rail Engineering Advanced Technician
- Rail Engineering Technician
- Rail Engineering Operative
- Business Administrator
- Lead Adult Care Worker
- Adult Care Worker
- Associate Project Manager
- Relationship Manager (Banking)
- Financial Service Administrator
- Credit Controller/Collector