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Avoid Costly Recruitment with an Apprenticeship

20 December 2019

Business women talk at a desk together

Recruiting new staff can be a costly, time consuming process. Apprenticeships often make a fantastic alternative to conventional recruitment. Plus they come with their own, unique benefits.

You call the shots

Apprenticeships can be tailored to your exact requirements, to suit specific job roles. You, the employer, are involved at all times and will know how your apprentice is progressing and contributing to your business.

This low cost form of recruitment is ideal for the skilled world of financial services as it delivers staff who have specific skills matched to their job role. Instead of selecting ‘the best match’ from a list of candidates, you have the opportunity to perfectly hone their skills and knowledge.

Many employers prefer the cost-effective possibilities of apprenticeships and have two great options to choose from:

  • Recruit a new apprentice
  • Place existing staff on an apprenticeship

Option 1 – Recruit a new apprentice

Instead of offering a traditional job to a new employee, why not recruit an apprentice? Financial services is the perfect field for apprenticeship training: creating the opportunity to recruit new talent.

Your new apprentice will:

  • Complete paid work for a minimum of 30 hours per week, getting to know your business and their job role.
  • Learn up to date, relevant skills and put them to immediate use.
  • Train towards a recognised qualification.
  • Be enthusiastic, bringing energy to your team.

There is a minimum salary that you must pay a training apprentice, but it is less that you might expect and is a real investment in skills. Ultimately, adding an apprentice to your team is extremely cost effective.

Option 2 – Place existing staff on an apprenticeship

You may not even need to recruit someone new at all. Avoid the need to fill staffing gaps by retaining current employees and upskilling loyal personnel.

Offering apprenticeship training to your current staff has numerous benefits:

  • Upskill staff to fill roles and promote from within, negating the need for new recruits.
  • Show an interest in the professional progression of employees.
  • Enhance job satisfaction, boosting staff retention rates.
  • Diversify the skills within your business.

This option cuts out all recruitment costs while adding new skills and enthusiasm to your business. It is win-win.

Find out more

If you are interested in finding out more about offering financial services apprenticeships and how Simply Academy can help, get in touch. Our friendly team are on hand to answer all your questions.

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