Now's the time
So, with the Government now putting its money where its mouth is, and committing to creating three million apprenticeships by 2020, now’s the time for employers and education providers to do the same – and help promote apprenticeships to students as a perfectly viable alternative to university. That said, research last year by the Chartered Management Institution and the EY Foundation has found that 86% of students are being given advice from their school about going to university, while less than half had received information about apprenticeships. This is something we’re keen to change – and we’re striving to help foster an environment where apprenticeships are placed on an equal footing to higher education.
Employers also have a job to do, and over the next few weeks must consider how to make the incoming levy work for them. For businesses with an annual wage bill of over £3 million, it’s vital they make use of their training allowances offered through the apprenticeship levy. As it is compulsory for these businesses, it would be nonsensical for them to throw it away. For those unsure about how such schemes could benefit their business, you only need to look at the widening skills shortage across the UK, the fact that apprenticeships are a way of cutting costs while securing and retaining the best talent, as well as the fact they increase productivity, team motivation, and contribute to the wider economy.
Here at Central YMCA, we’re holding workshops around the UK to educate employers on what apprenticeships can do for their business. So, if you’re an employer and this sounds of interest, you can come along to our Apprenticeship Reforms Roadshow. More information can be found here.