The Apprenticeship Levy, introduced earlier this year, was designed to help businesses like yours support people from all walks of life, regardless of experience, by increasing their career potential through training. Yet few businesses are making the most of the opportunity to maximise their training for new and existing staff and risk losing the chance to enhance their team.
This is because many businesses still don’t know about the levy, or are confused by the process, meaning they could miss out altogether thanks to the 2-year limit on claiming funds.
Apprenticeships offer workplace training and experience that’s invaluable to individuals who are looking to enhance their career prospects and provide businesses with both additional team members in essential roles, and an alternative way of training existing staff.
The levy funds can be used to access essential training for apprentices, in a range of topics, including compliance and soft skills, helping them develop the proficiencies required for the role.
So, why are so many businesses passing up these funded opportunities?
Well, according to research by the Manpower Group, there’s a general lack of understanding about the implications of the Apprenticeship Levy on training apprentices, and confusion about how to access the funds.
“Our research demonstrated that employers were still confused,” added City and Guilds Managing Director, Kirstie Donnelly. “With just a third saying that they felt fully informed about the levy and very few understanding the huge range of jobs that can be filled by apprentices”.
How the funds can be used to train existing staff and the types of skills that could be gained, form part of the confusion surrounding the Apprenticeship Levy.
The apprenticeship frameworks cover a range of roles in areas including accounting, manufacturing and tourism & leisure, with the funds enabling businesses to upgrade their workforce.
Apprenticeships are a positive investment, with the government targeting three million new apprentices by 2020, each of whom will have access to training that supports their development, creating a wide range of well-trained employees for UK businesses.
However, if the levy remains unused then businesses will miss the opportunity to develop both new and existing employees, and individuals lose the chance to improve their personal skill set.
To find out more about the Apprenticeship Levy, click here.