The hit BBC show The Apprentice has returned to our television screens, so have you been inspired to consider hiring your own apprentices?
Employing a junior member of staff can be a daunting prospect for a small business owner, so it’s important to do your research before you follow in Sir Alan Sugar’s footsteps. In this blog, I’ll cover the many benefits of hiring an apprentice to help you make an informed decision.
The first thing to remember is that lots of business understand the value of apprenticeships. According to official Government figures, 122,290 new apprentices and trainees were enrolled in the 2022/23 academic year, with more than 570,000 young people participating overall.
Broaden your skills
From digital technology to connecting with younger audiences, apprentices can give your business a fresh perspective. Your systems and processes could improve with the technical knowledge of a new generation who understand social media and the latest software. Consider the areas where you currently lack skills, could an apprentice plug the gap?
Lower staff costs
Hiring experienced staff can be too expensive for many small businesses, so offering an apprenticeship provides a cost-effective route to increasing capacity. Legally, companies need to pay apprentices the minimum wage, as well as allowing study time. Apprentices can learn your company’s practices and can soon be a valued member of your team.
Staff retention
Research has shown that most employees stay with the business upon completion of their apprenticeship, which reduces both staff turnover and recruitment costs. Investing time to train an apprentice creates loyalty to the business and shows employees that the company cares about them and that it is a good place to work.
Delivering diversity
Having a workforce with different ages and social backgrounds improves diversity and the range of skills in the business. New employees will be attracted to a company that can display a variety of talent, while rewarding people for good performance and a positive attitude.
Become a talent factory
Employing eager apprentices means a business can teach new recruits about their culture, values and methods. You can mould your new staff so they deliver exactly what your business needs, allowing you to grow a team who really understand every aspect of your operation.
How much does a business receive for hiring an apprentice?
Assuming your business falls under the £3 million payroll threshold of the apprenticeship levy, you can receive a contribution of 10% towards training and assessment costs. You can also receive a further £1,000 if your apprentice is either 16 to 18 years old; 19 to 25 with an education, health and care plan; or 19 to 25 and they used to be in care.
Need advice on apprentices?
Hiring an apprentice does require a certain amount of paperwork, so if you are unsure about the next steps I recommend seeking professional advice. JT HRConsultancy is an established HR services company based in Bedfordshire with clients across the UK. If you need help of advice on an employment issue, call me on 07715 026128 or email jo@jt-hrconsultancy.com
