Apprenticeships and the Apprenticeship Levy
Is the Apprenticeship the future?
Is the government pushing on an open door with its Apprenticeship Policy? With 871,800 funded apprentices participating in an apprenticeship in 2014 to 2015, it would appear so.
There is a noticeable change in attitude with clients of our tending to receive more value from more vocational training than the more traditional graduate recruitment approach.
We often hear from clients that they feel Apprentices learn over the period of their training how to do the specific role which immediately offers the business the opportunity to start building a return on an already reasonable investment.
Whereas we hear more and more that Graduates can often cost more to recruit and employ, and still require the specific "on the job" training that an apprentice would - making the return on investment a longer term achievement.
So is the apprenticeship the future? Well, Qdos would encourage a healthy mix of both methods of resourcing. Whilst some positions will lend themselves to Apprentices, there are other positions where a degree or post graduate diploma is going to be mandatory. Certainly consider all of your options because apprenticeships are no longer for lower office positions, it is clear they are designed to rival the traditional university approach... and it is working.
The Apprenticeship Levy
What is the Apprenticeship Levy? From 6th April 2017 employers with a pay bill of over £3million each year will pay the 0.5% levy to fund their own apprenticeships. Employers with pay bills below this amount will not be required to pay the apprenticeship levy but will still benefit by receiving 90% funding support (subject to funding band limits) by the government for the cost of apprenticeship training and end point assessments.
There are even further incentives for employers taking on apprentices aged 16-18 years of age, including an incentive payment of £1,000. With the scope of apprenticeships widening significantly, to accommodate degree and professional level qualifications, there has never been a better time for employers to incorporate apprenticeships into their resourcing strategy.
If you require help and assistance with apprenticeships or your HR issues, contact Qdos Consulting / 01455 852037