An apprenticeship is a way of funding the development and upskilling of an organisation’s workforce to support career progression. Apprenticeships are designed to reflect the changing needs of employers, learners and providers, with the new apprenticeship standards providing employer designed occupationally specific apprenticeships.
Apprenticeships are not just for new starters or people who are just about to enter the workplace, they are also about upskilling and supporting your existing workforce. Now and in the future, any individual can train through an apprenticeship, at a higher level than a qualification they already hold. Also if there is significant new learning required it can be at a lower or equivalent level to their existing qualification.
Apprentices complete their apprenticeship with the right skills for the role the organisation needs. It will play a key role in the retention of employees as they are more likely to remain employed the employer who invested in them.
As employers you will experience tangible improvements to your business and workforce a result of apprenticeships. Apprenticeships will address skills gaps in the current market and create real benefits for the taxpayer and the wider economy.
You will have to pay 10% of the total cost of the apprenticeship – the remaining 90% (up to the maximum funding band assigned to the apprenticeship) will be paid by government.
If you have less than 50 employees and are recruiting a 16-18 year olds, you will receive 100% of the funding. There are also further incentives available for recruiting 16-18 apprentices, including no NI contributions for those employees. As with Levy paying employers, non-Levy payers also receive an allowance of £15,000 which is used to calculate the employer contribution.
Paybill: = £2,000,000
Levy sum: 0.5% x £2,000,000 = £10,000
Allowance: £10,000 - £15,000 = £0 Payment Liability
Employers should commission a Training provider who is on the ROATP to develop a training programme which incorporates the skill and requirements outlined in the standard, they will also be able to support, track and record the off the job training requirement with you.
Please contact the Network Support Team to discuss further email@example.com