Industries like engineering and IT have repeatedly raised the alarm on skill shortages, which has further stoked efforts to revitalise the apprenticeship system. Given the attention they have received in the past few years, apprenticeships may appear to some people to be a modern invention but the truth is that they have been around since the Middle Ages. This goes to show that the importance of vocational training was acknowledged centuries ago and the practice has endured because of its benefits for both parties. The Daily Gazette has combed through the latest research results to compile a list of what makes apprenticeships so important.
From an employer’s perspective, there are several major benefits. According to 96% of companies with apprenticeship programmes, having trainees on the team boosts morale, improves retention rates and brings new ideas. Moreover, 72% of employers report that apprenticeships help increase productivity. For the UK economy as a whole, apprenticeship completions are expected to deliver productivity gains amounting to £3.4 billion within a decade.
But there would not be such a keen interest on the part of young people if apprenticeships did not benefit them as well. The most important advantage they get is employability: 86% of apprentices secure a job after completing their training, with 67% getting a permanent position at the company that has trained them. There is also the benefit of earning good money while learning the tricks of the trade: many employers pay their apprentices more than the required minimum (currently £2.68 an hour). And with more companies waking up to the importance of on-the-job training, young people can now embark on a career in virtually any sector: their choice encompasses over 250 different types of apprenticeships.