New figures from the Department of Education’s Further Skills Index have shown that UK businesses are benefiting more than ever from apprentices despite Education Secretary, Damian Hinds’s confirmation that the government’s promise of 3 million apprenticeship starts in England in 2020 is “not going to be reached”.
The figures show an increase from 36% of the total
value-added in 2012/13 to an impressive 58% in 2017/18 proving that apprenticeships
are contributing year-on-year to
the total value added to the economy.
Businesses are seeing better staff retention rates and the number of higher-level and advanced apprenticeships introduced by businesses following the introduction of the apprentice levy has also increased, helping young people take their studies further whilst making themselves more skilled and valuable to employers.
Skills specialist Seetec believe that apprenticeships are the key when it comes to the future of learning.
Steve Barker, Sales Director at Seetec commented “These figures go to show the value of apprenticeships to a business. Whilst it took a while for some employers to see the benefits of the levy, we’re now seeing more businesses actively seeking an apprenticeship programme that works for them and their business, and ultimately the economy.”
Spearheading the movement and encouraging businesses to take advantage of the levy, Steve shares his expert insight to those businesses still yet to take on apprentices. “The important thing to remember is the value these opportunities not only give to apprentices themselves, but to the business as a whole. In our experience, employers who invest time into their apprentices see better staff retention rates and employees who are able to grow with the business and ultimately do a better job. Good employers and employees flourish from professional development, fair benefits, consistent training and the opportunity to go far.”
Celebrating their 35th anniversary this year, the skills, employment and rehabilitation provider has been helping people and businesses fulfill their potential through training and employment since 1984.