5 Factual Benefits of Upskilling Employees Through Apprenticeships
Upskilling is the training or education given to employees to help develop and build upon their existing skills. Employers can benefit from the training and reap the rewards it brings to staff and the business. One of the ways that upskilling can be achieved is through apprenticeships. This is a successful training option for many employers because of the hands-on learning experience while on the job.
So what are the benefits of upskilling existing employees through apprenticeships? We've collected five advantages and a guide to all things employer training and apprenticeships.
1. Cost-effective for your business
Did you know the government offers an apprenticeship levy to help companies provide apprenticeships for new or existing staff? Using the levy to fund training is a low-cost and low-risk option for employers looking to fill their skills gaps. It's the main reason why so many businesses use apprenticeships!
You don't need to look far; the funding is open to all apprenticeship levels and types - so there is an apprenticeship programme in whatever the company's industry.
2. Fill skills gaps in your business
A study in 2021 found that 34% of employers stated they had potential skills gaps compared to 14% in 2018, a sharp increase in recent years with areas frequently identified as lacking in skills withinin the trade industry. Actively aiming to fill in skills gaps due to oversight, poor planning, or a lack of skilled workers in an area will benefit your business. However, you don't have to search for new talent; you can look towards your current employees to expand their skills.
How your firm addresses these skills gaps by upskilling current staff through apprenticeships will save you time recruiting and outsourcing work. The message is clear!
3. Increased job satisfaction
Staff need to feel motivated and satisfied in their jobs, which is why employers use apprenticeships to give employees development in their careers. Employees can move up within their company by opening more opportunities to work on different and more rewarding projects.
Employers benefit from increased communication, team spirit, and improved synergy between departments. It can have a positive effect on productivity and employee engagement as employees have a broader skill set and knowledge in their job role.
4. Lower staff turnover
A report conducted in 2021 stated that only 1 in 10 UK employees feel their company does enough to retain its employee talent. 49% felt more opportunities for career progression could have been in place.
It's clear that staff satisfied with their job are less likely to leave. It also helps during recruitment processes as highly qualified talent will see high staff retention rates as a essential part of your business.
5. Creating talent for the future
As a wrap-up of all the benefits highlighted, businesses can future-proof their talent and outline a key strategy when training their staff with apprenticeships. It can help achieve many company goals, such as staff retention, staff satisfaction, productivity, and create a strong link with training providers and partners.
Our Employer Training and Apprenticeships team is here to support you whether you are looking to upskill, re-train your current employees or hire someone new. Download our Professional Training for Business guide here or check out the full list of our apprenticeship programmes here.
If you are an employer looking to recruit an apprentice or upskill your current employees or you would like to find out more about the apprenticeship programme and the support available to you, please get in touch via: email@example.com or call 0345 155 2020.