Your pay bill exceeds £3 million, you pay a proportion of your turnover to fund training, but are you ensuring you make the most of the apprenticeship levy?
This is the third instalment in our In the Spotlight series on apprenticeships. If you haven’t already, read more on Understanding the Apprenticeship Levy and How to Access Funds from the Apprenticeship Levy.
An historic view of apprentices includes that of ‘cheap labour’ and ‘low skill’ – but that’s not the case. ‘Apprentice’ doesn’t need to be a job title, simply put, it is a term for any person undertaking formal training through an approved apprenticeship programme. From Level 2 Customer Service to Level 7 Leadership & Management, apprenticeships, and by association apprentices, come in many forms.
This section is geared towards employers who pay the Apprenticeship Levy, for employers not paying the Levy click here for government guidance on how to access support for funding apprenticeships in your organisation.
Once you have access to your online account, you will be able to view a comprehensive list of apprenticeships along with registered apprenticeship providers who will help you administer your scheme.
There are a number of solutions to get the most out of your levy fund and how to deploy apprenticeships across your organisation.
Whether the apprenticeship is completed by a new hire or existing colleague, they will need to meet certain criteria in order for funds from the levy to be drawn down against their training costs. To qualify, the person must;
A colleague hired as an “Assistant Stock Administrator” would not qualify for a Level 7 Leadership & Coaching apprenticeship as they would be unable to complete the on-the-job requirements of the apprenticeship or demonstrate the apprenticeship was relevant to the job they are employed to do.
A colleague who works a 37.5 hour week will be entitled to 7.5 hours of work time per week to complete their apprenticeship training.
The employer-led standards for modern apprenticeships not only provide the benchmark for the knowledge, skills and behaviours required for each role, but your training provider will also have the ability to develop an apprenticeship model to fit your organisational needs.
Use apprenticeships to upskill colleagues to better perform in their current roles and prepare them for the future by supporting with training them for their next promotion.
For individuals and the wider employee population. Offering recognised training to employees is great for colleague engagement. Demonstrating you invest in your people and support them with their career development leads to higher engagement levels and increased retention as colleagues feel more valued.
Using the fund for training existing colleagues means you don’t have to increase your company headcount and salary bill. Whilst there are benefits to bringing on new recruits as apprentices, utilising your fund on those already on the payroll can maximise the amount you pay into the levy, without additional cost.
In a candidate-led job market, benefits such as offering funded, formal training is attractive to potential recruits. Offering training through high-level apprenticeships demonstrates commitment to investing in their future and reduces the chance of them looking elsewhere for opportunities.
If your organisation needs HR advice or support, Vero HR can help. We will provide you with dedicated HR Services to effectively manage your workforce and assist with all your HR requirements. Contact us today to find out how we can help your business.
