A recent study carried out by the University of Warwick Institute for Employment Research (IER) demonstrated that Apprenticeships are an investment by employers and where the investment is nurtured, the returns to the employer are significant.
Based on detailed employer case studies in seven sectors the study was commissioned and scrutinised by the business leaders who form the Apprenticeships Ambassador Network (AAN).
The study concluded that;
Apprenticeships deliver real returns to your bottom line, with Apprenticeships helping them to improve productivity and to be more competitive. Training apprentices can also be more cost effective than hiring skilled staff, leading to lower overall training and recruitment costs.
Apprenticeships deliver skills designed around your business needs providing the skilled workers you need for the future. They also help you develop the specialist skills you need to keep pace with the latest technology and working practices in your sector.
Apprentices tend to be eager, motivated, flexible and loyal to the company that invested in them. Remember, an apprentice is with you because they want to be – they have made an active choice to learn on the job and a commitment to a specific career.
Business leaders from a range of industries and backgrounds across England give their support for Apprenticeships and voice their ambition to help grow the number of places available.
Earlier research, conducted in February 2008 by Populus on behalf of the LSC to launch the first National Apprenticeship Week revealed: