Apprenticeships Show Increased Annual Value to the UK Economy
Recent research has shown apprenticeships make up to 58% of the total value added to the UK economy each year.
Figures from the Department of Education’s Further Skills Index has shown the total value added by apprenticeships has increased from 36% in 2012/13 to an impressive 58% in 2017/18.
Steve Barker, Sales Director at Seetec comments “These figures go to show the value of apprenticeships to a business. Whilst it took a while for some employers to see the benefits of the levy, we’re now seeing more businesses actively seeking an apprenticeship programme that works for them and their business, and ultimately the economy.”
Following the introduction of the apprenticeship levy in April 2017, the number of higher-level and advanced apprenticeships in the UK has also increased. These qualifications help apprentices take their studies further, all whilst making themselves more skilled and valuable to employers.
Keen to encourage businesses to take advantage of the levy, Steve shares his expert insight to those businesses still yet to take on apprentices. “The important thing to remember is the value these opportunities not only give to apprentices themselves, but to the business as a whole. In our experience, employers who invest time into their apprentices see better staff retention rates and employees who are able to grow with the business and ultimately do a better job. Good employers and employees flourish from professional development, fair benefits, consistent training and the opportunity to go far.”
For more information on apprenticeships and the apprenticeship levy, contact a member of our team today on 0800 3891 999 or click here to visit another page on our website.