How Employers Can Benefit from Apprenticeships

Businesses across the UK are looking at ways in which they can shore up their operations and prepare themselves for the future, as the country’s economic situation remains uncertain. One of the crucial areas to consider for long-term busines growth and success lies with the skills agenda, and businesses are being urged to look again at the value of apprenticeships.

Apprenticeships have been around for decades, but their structure and format has changed in recent years so that current frameworks are in line with what employers need to thrive and grow. However, although the format may have changed, the benefits haven’t.

Apprentices have been proven to boost morale and productivity within organisations through an injection of fresh new resources. Studies have found that 86% of employees saw a productivity boost from bringing apprentices on board. There are other benefits too. Businesses with apprentices get to bring new talent on-board and to train them in the skills that they really need for the future.

They also gain recruitment support by using agencies and colleges which recruit and train apprentices, and businesses can also benefit from schemes to help fund the costs of apprenticeships, including subsidised training. There is also an incentive payment for employers that take on a new apprentice during the pandemic, worth up to £2,000 as a one-off government grant to cover costs.

Once apprentices are in role, the benefits keep coming. Not only do they learn quickly and have natural motivation, but they motivate those around them. And apprentices stay for the longer term within the companies that they develop in – helping to boost retention and to lower the costs of attrition and recruitment.

Perhaps your business is ready to grow and to strengthen its competitive position for the future by taking on a new apprentice? Even with government funding, there are some ancillary costs required, for example for laptops, equipment, desking and internal training programmes. Perhaps you are keen to launch a recruitment drive to secure a number of talented new individuals?

Century Business Finance can help you to access a business loan that supports you in bringing new talent on board, and to strengthen your business in anticipation of the year ahead. Whether you’re topping up your reserves, hiring fresh talent, making a strategic pivot or simply boosting your operational capacity, we offer rapid business loans for any purpose.

You can borrow from £10,000 to £150,000 for any reason, for six months through to two years. The entire process is really quick and doesn’t require any face to face appointments or time-consuming paperwork. In fact, we have slick online systems that manage the application process digitally. You simply complete a short form, we carry out our credit check and then you will receive a fast decision. The funds can then be in your business bank account within 24 hours, ready for you to put your plans into action.

What’s more there are no upfront charges and you can even repay early without penalties, for maximum flexibility. Ready to apply for your business loan? Complete our short application form online today for a quick decision and ready access to the funds you need.