Offering apprenticeships helps you attract talent at all levels of your organisation, particularly school and college leavers who want to learn while they earn.
Apprenticeships are tailored to specific roles, ensuring that employees gain the latest relevant skills and knowledge and enabling them to extend their capabilities to support your organisation.
Offering an apprenticeship demonstrates your commitment to investing in your employees and their ongoing training, which improves productivity, staff retention and morale.
Apprentices can apply what they learn immediately, bringing in fresh ideas and improving ways of working.
Apprentices with prior relevant qualifications or work experience can also top-up by going into the second or third year of a degree apprenticeship programme subject to meeting the University’s entry criteria.
With changes to the way apprenticeships are funded, it’s time to make sure you’re getting the most from your investment.
In April 2017, the Government introduced a compulsory levy for all companies with an annual payroll of more than £3m. The amount you pay will be 0.5% of your total payroll costs.
The money will go into your digital apprenticeship account via HMRC and funds will expire 24 months after issuing unless you spend them on apprenticeship training through educational providers, such as the University of Hertfordshire.
The money you pay into your digital account will be topped up by the Government by 10%. You can then use this to pay for degree apprenticeships through the University of Hertfordshire.
For non-levy paying companies the Government will fund 90% of fees.
Non-levy paying employers will share the cost of training and assessing their apprentices with government – this is called ‘co-investment’.
From May 2017, you will pay 10% towards to the cost of apprenticeship training and government will pay the rest (90%), up to the funding band maximum. The contribution is set to reduce to 5% from small businesses from 2019 (date to be confirmed).
From May 2018, employers who pay the apprenticeship levy can make a transfer to fund apprenticeships in another organisation.
Employers who pay the levy and are considering making a transfer should read information on gov.uk and talk to a potential receiving employer.
Employers who don’t pay the levy can now register on the Find an Apprenticeship Service in order to receive a transfer if they have an agreement with a sending employer.