Apprenticeship figures begin slow turnaround
The Intitute of the Motor Industry (IMI) has offered qualified praise for the Apprenticeship Levy after figures showed that apprenticeship starts have risen for the first time since it was introduced.
Steve Nash, CEO of the IMI said, ‘The latest figures on apprenticeship starts are welcome news, albeit the numbers are still significantly lower than those achieved before the Apprenticeship Levy was introduced.
‘At the IMI we firmly believe that businesses need as much support as possible in order to understand how to they can best use the training funds to which they’re entitled. And we have been offering free expert advice to businesses in the automotive sector to help them understand how they can invest their Levy or co-investment, using this to enhance the skillset within their business.
‘There is no question that apprentices deliver real value for businesses as a two year study undertaken by the IMI proved. The results found that apprentices typically generate an ROI between 150% and 300%, and usually generate profit within 12-24 months. Home grown apprentice-trained technicians invariably outperform market-recruited technicians, and this can reduce long-term recruitment and training costs.
‘Employers must build apprentices’ knowledge, skills and behaviours based on targets they want them to achieve, and this will help them to see higher completion rates and a higher number of apprentices retained in their business.’
