Apprenticeships good for business
Small firms are reaping the benefits of apprenticeship schemes
Apprenticeship schemes are conducive to running a more efficient and profitable business, says the Learning Skills Council (LSC).
In an independent report commissioned by the LSC, 80% of respondents from small and medium-sized businesses (SMBs) felt their apprenticeship schemes made them more competitive, while 70% believed that the programmes led to elevated levels of productivity.
Moreover, many companies felt that the removal of apprenticeship programmes would be vastly detrimental to their business; with 86% of SMB employers relying on the schemes to provide the skilled workers that they will need for the future.
Apprenticeship schemes can also address the costs associated with training and recruiting the necessarily skilled staff. Nearly two thirds of those polled reported that training apprentices is more cost effective than hiring skilled staff.
It would also seem that apprenticeship schemes offer business value from their inception: 40% of respondents reported that their apprentices make a valuable contribution to the business during their training period, and a further 34% reported that apprentices add value within the first few weeks of training.
Stephen Gardner, director of apprenticeships at the LSC said that the schemes offer unparalleled business advantages. “These survey results confirm the significant benefits that all employers achieve from apprenticeships, from increased competitiveness and overall productivity to improved staff retention and motivation.”
© Crimson Business Ltd. 2008