How would having an apprentice benefit you?
According to HMRC 70% of employers reported that apprenticeships improved their productivity or the quality of their product or service with an average increase of £214 a week.
One of the main benefits of having an apprentice has to be their cost. In comparison to a normal employee the cost can be reduced by over a third. The current wage for an apprentice 16-18 or 19+ and in their first year is only £2.73 (set to rise to £3.30 in October 2015). There are grants available to companies wishing to take on an apprentice, of up to £1500, details of which can be found on the HMRC website.
You may be eligible if you have less than 50 employees and your apprentice is aged between 16 and 24. The funding is available for up to 5 apprentices per business, and is usually provided through the training provider. An apprentice must work a minimum of 16 hours a week, with the same entitlements that other employees receive.
Levels of apprenticeships vary depending on level, starting at intermediate and progressing onto higher. The length also varies, and can last up to 4 years.
Apprentices may also bring a fresh perspective and new ideas to your business. The majority of younger apprentices may have strong skills when it comes to technology and social media giving you as a business owner an advantage that other companies may not have.
Written by Turl & Co. Sept 2015.