10 Reasons why small businesses + apprenticeships are the new winning formula
Written on 19th, April 2022
Any successful businesses are built with the aid and combination of winning formulas – the product or service, the market opportunity, the customer need and demand and countless other factors. However, in order for all these formulas to be successful the underpinning factor, or the foundations of your business are your employees.
Building a skilled and loyal workforce is paramount to success and here we highlight 10 reasons how the marrying of small business and apprenticeships can contribute towards a winning formula.
- It’s a win-win situation for both the employer and the apprentice due to the relevant work-life experience for learners and the future-proof investment opportunity.
- Apprenticeships help businesses to develop a pool of highly skilled employees, tailored to the specific needs of the enterprise.
- Apprenticeships create loyal employees and increase the continuity of worker, reduce turnover rates, increase productivity in the medium and long run lower the cost of recruitment.
- Apprentices bring new ideas and perspectives to their learning workplace and contribute to an inspiring workplace culture.
- The collaboration between the apprentice and the in-company trainer can improve employee retention and become a positive model for intergenerational cooperation.
- Apprenticeships can boost the diversity among staff, contributing to a more open and inclusive work culture, to better company image and thus to better job satisfaction of employees.
- Apprentices can improve the company’s ability to innovate, since they can bring in fresh ideas from attending local training centres or technical colleges.
- Apprenticeship schemes have an emphasis on safety training and will therefore contribute to a safer workplace.
- The initial cost of investing in new apprentices can be reduced by financial support coming from different sources (regional, national and EU level). In general, the cost of an apprenticeship are outweighed after the training programme by the benefits of a skilled workforce.
- Many SMEs see an administrative burden in recruitment or the training of qualified worker to supervise the apprentices. However, it should be noted that public authorities, public employment services, chamber, other intermediary bodies and also social partners often offer non-financial support (i.e guidelines, toolkits, matching apprentices to companies to reduce this burden.)
As an independent training provider we can help businesses to identify how apprenticeships can help them, we also assist with a full recruitment service (free of charge). Visit our employer apprenticeship section for more information.