Taking on an apprentice is a common practice for many companies allowing them to grow their business and build a productive workforce. Companies who invest in apprentices experience a range of short term and long-term benefits including increased profits, staff retention and a skilled workforce.
Employee Retention
Taking on an apprentice is a good way for a company to aid the retention within their workforce. Apprentices hold a strong sense of loyalty to the company they do their apprenticeship for and will often stay and progress in that company after completing their qualification. This allows the employer to retain the skills that they invested time and money helping the employee to develop.
Increased Profits
BCITO New Zealand states that “in the long run investing in training can significantly grow a business and their profits. A study compared a company who invested in training to one who didn’t.
The outcome experienced by the company who invested in training an apprentice follows:
• Grow 6% faster
• Charge $0.44 more per hour per person
• Estimate work 3% more accurately
• Do 2% less hours to complete the same task or project”
Increased Productivity
Companies often see a significant increase in productivity when taking on an apprentice. This is because they are keen to learn, develop new skills and prove themselves to the employer. By proving their strong work ethic and ability to produce quality work they are hoping for a long-term gain of potentially being offered employment once completing their qualification.
Upskilling
With the increased demand for skilled workers, hiring an apprentice is a good way to fill the skill shortage gap. Companies can adapt the training methods to suit the needs and specific skills required by the business. This also gives employers a chance to stay up to date with industry developments and build on their existing skills.
Diversifying your Workforce
Apprentices are often a younger generation who are looking to build their career in a chosen trade or industry. Introducing them to your workforce is adding a different dimension and allowing fresh perspectives. This may lead to the introduction of new processes that may motivate and excite your existing employees.
We often have apprentice roles that are looking to be filled. Get in touch with us today to learn more.