How do apprenticeships help businesses?

22 November 2019

Business men and women at a meeting

Apprenticeships help businesses in many different and significant ways. Whether you recruit someone new or enrol an existing member of staff, training an apprentice could be your next great business decision.

Apprenticeships are great for business

Financial services apprenticeships can provide a positive impact on your business. Here are a few ways how:

  1. Apprentices work while they train which means they bring up-to-date knowledge and skills to their job role.
  2. They develop valuable on-the-job skills which are relevant to their position.
  3. Running an apprenticeship shows a dedication to your workforce resulting in loyal employees with job satisfaction.
  4. There is generous funding available which can make hiring an apprentice very cost effective.
  5. Apprentices are likely to work hard and create an energetic atmosphere in the workplace. This in turn also motivates those around them. In fact, 92% of employers who employ apprentices believe they lead to a more motivated and satisfied workforce.*

A head start for your apprentice

The combination of study and work means that apprentices complete their programme with skills, knowledge and experience relevant to their job role. This sets them apart from their peers which is great for you, their employer, but also great for them.

Once your apprentice has completed the scheme they are also in the perfect position to complete further training and/or take on greater responsibilities. In fact, 57% of employers report their apprentices going on to management positions within their company. ** Naturally, having skilled, confident, motivated people in management is great for business.

Financial apprenticeships are great for the industry

Thinking of the broader industry, financial apprenticeships are great for the sector as a whole. Apprenticeships help to attract new people, equipping them with skills and knowledge which drives the industry.

If we go on to look at the benefits of apprenticeships to the whole country; every £1 spent on an apprentice generates £18 for the UK economy.*** So, by offering an apprenticeship, you will benefit your candidate, your own business, the financial services industry and the whole country. Are you ready to find out more?

Find out more

For more information about financial apprenticeships, get in touch today. Our friendly team are on hand to answer any questions you many have.


** NAS

***CII Apprenticeship Guide

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