Written by Dr Paul Phillips CBE
It has been a difficult period of time for us all. Many industries are seriously struggling, the term ‘furlough’ is part of everyday language now, and recruitment is seemingly on hold for many organisations. This has left many wondering, is there a way out for my business?
On Wednesday I was delighted to see that the government had a plan to help ‘kickstart’ recovery, announcing their aim to “protect, support and create jobs” – offering significant investment in young people through traineeships and apprenticeships.
In short, their cash incentive offer is:
- £1,000 per trainee
- £2,000 per apprentice under the age of 25
- £1,500 per apprentice over the age of 25
At Weston College we are ready to support you to make the most of these Government incentives; we have been successfully delivering both apprenticeships and traineeships for many years; they offer a fantastic route to the job market for young people and provide that extra pair of hands to businesses, bring fresh ideas and create future leaders.
The lesser known traineeship programme can provide fruitful results for industry. Over the last few years the College has seen a growth in this by 123%, bucking the national trend and creating key workers who have been working extremely hard during the pandemic. We have engineers with GKN, nurses with the NHS and early year’s educators who have been working hard in nurseries.
The announcement by the Chancellor will see the government triple the number of traineeships in England, paying employees £1,000 for each trainee they take on – something which I think is actually quite exciting going forward!
If you’re anxious about recruiting an apprentice, a traineeship offers you the opportunity to ‘try before you buy’ at no cost to your business, whilst also gaining £1,000 in government funding.
As mentioned previously, recruitment is on hold for many organisations despite still needing staff to operate, and if you find yourself in this situation one alternative to consider is apprenticeships.
Through apprenticeships you can upskill existing staff or use the apprenticeship scheme as a cost-effective alternative to the traditional recruitment process when it comes to finding and training new talent.
There is lots of funding available if you choose to go down this route; with the Chancellor announcing that the government will offer a £2,000 bonus, for each apprentice you hire under the age of 25, and a £1,500 bonus for apprentices over the age 25. There is also the apprenticeship levy, and did you know that SMEs could receive 95% of the training fees? This truly is a viable option to help rebuild your business.
We understand that apprenticeships are not a ‘one size fits all’ provision, and in order for you to get the most out of an apprenticeship our team will work closely with you, to get a clear understanding of your business needs; and then build a bespoke package.
We at Weston College are here for you. We want to support you and help you to kickstart your recovery. We can support you to gain £3,000 of government funding (via offering a trainee an apprenticeship, at the end of their traineeship), and if you are an SME you could potentially claim 95% of the training costs – what are you waiting for?
Get in touch with my team and let’s create brighter futures together.