Why Hire an Apprentice?
At Mybe Awards, we are passionate to inspire and empower. Hiring an apprentice can bring new insight, new skills and new knowledge. Apprenticeships are employer led and it is our responsibility to meet your needs.
If your annual wage bill is more than £3m, its now even easier and arguably more beneficial to hire an apprentice, thanks to the Levy the government introduced in April 2017.
If your annual wage bill is less than £3m, you will not be paying the levy, but all is not lost. 95% of each apprenticeship is funded by the government and only 5% investment is required from you as the employer to access an apprenticeship programme. However, if you are paying the levy then you will be paying 0.5% of your total payroll.
There are financial incentives to employing an apprentice. For example, an employer looking to hire a new apprentice between 1 August 2020 to 31 March 2021 will be eligible for a cash bonus:
- If you hire an apprentice aged 16-21, you will receive £2,000 and £1,500 for apprentices over the age of 25
- This is in addition to the existing grant of £1,000 available for those hiring apprentices ages 16-18
You cannot use this for existing apprentices, but can use it to access a wider talent pool as it is available to use for apprentices who have been made redundant by another employer.
The particular benefits for utilising apprentices if you are a levy paying employer are:
- The government tops up all payments into your digital account by 10%.
- These funds are paid to you under disbursement schemes, so the funds are spread out over the course of the apprenticeship.
- The levy transfer initiative; you are able to transfer up to 25% of your levy funds to another employer or training provider for them to use in full.
These levy funds expire after 24 months, so it’s vital you use these funds as soon as possible! You can utilise this best by either upskilling your existing staff or hiring a new apprentice.
Not only does this save on recruitment costs, help with skill shortages and staff retention; but it also demonstrates that progression is at the heart of your business, which is essence, starts with your staff. 86% of employers have said that apprenticeships helped them develop skills that are relevant to their organisation. Exposing your existing employees to different perspectives and new ways of thinking can consequently increase efficiency. Once you invest in your employees’, their positivity and commitment to their role will grow.
Hiring a new apprentice
New employees come into your business with fresh eyes and fresh ideas. 74% of employers said apprenticeships helped them improve the quality of their product or service. Improving the diversity of your workforce betters your business internally and thus externally too. While moulding learners to your company’s values, you improve the quality of their work, as well as increasing their loyalty they have to it.
A great stepping stone to apprenticeships is Traineeships. These are flexible programmes lasting anywhere between 6 and 12 months, giving learners more time to achieve a full qualification. 75% of trainees started in employment or apprenticeship within 12 months of starting a traineeship, so this can be a good way for you to secure a pool of high-quality future recruits. There is also a bonus payment of £1000, which is limited to 10 trainees per employer and eligibility for trainees will be expanded to those with a level 3 qualification and below.
We want to help you enhance your workforce to be the best.
We provide the content needed for prospective apprentices to develop, filling skills gaps and modifying the content to their role, so they can succeed in your working environment.
We started delivering apprenticeships on November 1st 2020, so even though we are a fairly new provider, we recognise the dual responsibility to the needs of the apprentice, and the employer. As well as our main concern being the growth of your business and apprentices, we too have plans of growth, but in the more literal sense of the word. With plans to expand, we can only do this with your collaboration with us as a training provider.
Especially within this current climate, we are looking to help anyone still filled with enthusiasm to learn and grow. We have adapted well to the move to digital learning and can work around your company’s policies and safety issues regarding COVID-19. It’s a great time to utilise apprentices, as it gives your business that advantage to keep improving in what can feel like a somewhat stagnant time.
Take a look at the apprenticeships we offer and get in touch for further information. We are excited to partner with you!