According to government statistics total UK apprenticeship participation is 740,000 for 2021/22, forming a sizeable chunk of the UK workforce.
Despite making a significant contribution to the economy, apprenticeships have had a stigma attached to them for many years. Prevailing stereotypes still linger of the badly paid apprenticeship for the under-qualified and inferior to traditional degree-type qualifications.
In recent months, however, a clamour for more cost-effective apprenticeships has caused the percentage of British school leavers choosing degrees to fall for the first time in a decade.
Some top-level degree apprenticeships in high-paying sectors such as engineering are now some of the most coveted courses in the country, with firms such as Rolls Royce and Dyson receiving more applications per place than Oxford or Cambridge.
Clearly, young people are waking up to the benefits: an earn-while-you-learn lifestyle and a more secure career path in contrast to the debt-laden degree and uncertain career prospects.
Taking on apprentices also offers huge business opportunities, from diversifying their services to plugging skills gaps. We review the benefits and offer why you should consider apprenticeship schemes in 2023.
Close the Skills Gap
In November 2022, 13.3% of businesses surveyed by the ONS reported a shortage of workers, while the federation of small businesses found that 80% of small firms faced difficulties recruiting applicants with suitable skills. Apprenticeships can help to fill this void.
Instead of looking for those scarce silver-bullet hires, businesses should also look to recruit and upskill apprentices. 86% of employers, for instance, said that apprenticeships helped them develop skills relevant to their organisation. Unencumbered by bad habits, apprenticeships can bring fresh energy to a business and be moulded to meet your company’s requirements. This is especially true when younger people are so adaptable and technology literate….
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