Understanding apprenticeship benefits and funding

Benefits of apprenticeships for your business

Hire an apprentice and invest in the future, by getting talent that’s right for you. It’s easier than you think: if you are a smaller employer, you are eligible for government funding which will pay between 95% and 100% of the apprentice training costs. If you are a large employer, you can use your levy to pay for your apprenticeship training. Watch our webinar for more information about the benefits of apprenticeships.

Apprenticeships are suitable for people at any age and any level so you can hire someone new or upskill an existing employee, allowing you to grow talent and develop a motivated, skilled and qualified workforce. They help you to:

• Offer on-the-job training in a safe working environment
• Build a culture of learning and development
• Enjoy higher staff retention and morale
• Promote diversity and inclusion in the workplace

“We have lots of success stories and feedback that the young people have been like a breath of fresh air, helping existing staff, particularly in relation to technology. These programmes can be life changing for young people who may not have been certain about their futures.”

Lancashire County Council

Your estimated yearly gain

Between £2,500 and £18,000 yearly gain per apprentice

Did you know on average in the UK, the estimated yearly gain for employers is between £2,500 and £18,000 per apprentice during their training period.

Apprentice outputs usually surpass their associated costs, delivering a net benefit to employers during their training.

They are likely to increase further once the apprentice completes their training and remains with the employer, after apprenticeship costs and expenses are removed and productivity increases.

Read the study by St Martin's Group here (opens in a new tab)

The future of your business

We know how much your business means to you and know how important it is to find the right people for the job.

By offering an apprenticeship you can ensure that the skills developed are matched to your company’s current and future needs. This will help fill any skills gaps and allow your business to source future managers and leaders from within, so you don’t have to worry.

• 92% of companies that have taken on apprentices believe this leads to a more motivated and satisfied workforce
• 86% said apprenticeships helped them develop skills relevant to their organisation
• 80% have seen a significant increase in employee retention