The leading engineering training provider in the Yorkshire and Humber region
Should your business invest in Level 4 Apprenticeships?
The UK engineering and manufacturing industries are currently battling one of the most difficult periods they have ever faced.
It is no secret that in recent years, as a result of COVID and many other challenges, these industries have been crippled by skills shortages.
A problem so severe that STEM Learning has suggested that the skills gap costs the UK as much as £1.5bn a year.
Businesses up and down the UK are now scrambling to plug the skills gap, but with a lack of available talent, recruitment difficulties have also been exacerbated, leading a large portion of the industry to turn their attention to apprenticeships as a means of overcoming the challenges they are facing.
In fact, research by MAKE UK demonstrated that almost half of UK manufacturers will prioritse long-term investment in Level 4-5 skills over any other level.
Therefore, it is vital that businesses who wish to remain competitive are also considering how they will prioritise their investment in skills.
After all, if your business isn’t investing in Level 4 skills and above, it’s very likely that your competitors are.
We’ve compiled a list of benefits to help you understand how Level 4 apprenticeships can support the growth and development of your business, including some useful guidance on how to make the most of your apprenticeship levy.
Address Skills Shortages
According to the Institution of Engineering and Technology (IET) Skills Survey, over 60% of employers reported concerns about skills shortages being a threat to their business. In particular, a lack of digital skills and expertise in automation and advanced manufacturing techniques was highlighted as areas of concern.
Whilst this figure does appear concerning, a promising report from the Engineering and Manufacturing Growth Programme indicates that 83% of employers who invest in apprenticeships believe they help to fill the skills gap and are essential for the future growth of business. This not only demonstrates the value of apprenticeships to individual businesses, but perhaps implies that apprenticeships will play a huge role in supporting the entire engineering and manufacturing industries are equipped with a future ready workforce.
Overcoming an industry-wide skills gap is no easy feat, but a collective effort from UK engineering and manufacturing firms will no doubt steady the ship over time.
Invest in Cost-Effective Training
Apprenticeships offer a cost-effective method to train staff compared to other methods, such as traditional university routes.
The apprenticeship levy can be used to fund the training of staff through an apprenticeship. Our Level 4 apprenticeships include a HNC as a mandatory component, offering an alternative way to fund a higher national programme whilst also exposing the apprentice to additional hands-on training to further their development.
Apprenticeships also have a proven ROI for businesses that invest in them, research carried out by OneFile shows that for every £1 invested in an apprenticeship, £28 was returned.
Retain Employees
Not only do apprenticeships allow you to introduce new talent to your business but they can also help you to retain existing staff by showcasing your commitment to developing your employees and investing in their progression.
Research by the National Apprenticeship Service found that 80% of companies that invest in apprentices report an increase in staff retention.
Placing existing members of staff onto a Level 4 apprenticeship to aid with their progression not only benefits the individual but could also inspire other members of staff who are also keen to progress, to follow in their footsteps.
Introduce New Ideas
Apprenticeship standards are ever-evolving to ensure that they meet the latest requirements of industry.
This means that apprentices are trained in the latest technologies and practices and can drive innovation within your business by introducing new ideas from their apprenticeship.
A Microsoft report found that 69% of UK leaders believe that their organisation has a digital skills gap. This is particularly significant for UK engineering and manufacturing as the industry undergoes huge changes driven by an enhanced focus on digitalisation and the Internet of Things.
Apprentices could assist other members of staff to become proficient in the use of emerging technologies, empowering the wider workforce to enhance their digital skills.
Meet Industry Standards and Regulations
Evolving apprenticeship standards don’t only help to introduce new ideas, but they also ensure that businesses adhere to industry regulations.
The hands-on training and education provided by an apprenticeship is regularly updated to align with current industry practices.
Research by the UK government indicates that apprenticeships equip workers with the necessary skills to meet stringent industry regulations, enhancing operational efficiency and compliance.
Improve Diversity
Apprenticeships offer an alternative pathway into engineering, which can help to attract a more diverse workforce.
A study by McKinsey & Company demonstrated that companies with higher diversity levels are likely to outperform less diverse companies in terms of profitability and productivity.
A diverse workforce can also assist in driving innovation by welcoming the viewpoints of individuals from a wide range of backgrounds, with differing perspectives and experiences, contributing to creative problem-solving and decision-making.
Plan for the Future
Having a robust succession plan focused on apprenticeships can guarantee a steady influx of young talent who are specifically trained to meet the needs of your business.
Not only do apprenticeships plug gaps in the short term, but they create a pipeline of skilled workers who are able to grow and develop their skills with your business.
According to research by the UK government, 86% of employers report increased skill levels in their workforce as a result of investing in apprenticeships.
Conclusion
Investing in Level 4 apprenticeships can have huge benefits for your business.
Bridging the skills gap, developing a pipeline of highly skilled staff and fostering a culture where innovation and creative problem solving are celebrated are undoubtedly the most prevalent.
However, the most vital aspect of hiring an apprentice is choosing a programme that is suitable for your work environment to ensure that the skills that they develop have a tangible impact on your business.
Unsure on which programme would be a good fit for your business?
Learn more about our Level 4 apprenticeship programmes by clicking the links below: