Discover how apprentices can help to transform your business. From 1st August 2020 to 1st January 2021 - new government incentives mean when you create a new apprentice role within your business you receive up to £3000 per apprentice.
Companies that spend less than £3 million on their wage bill are called co-investors
Employers must register for an Apprenticeship Service account to manage their apprenticeship training.
Co-invest 5% of total training costs with 95% paid by the government.
Fully funded apprenticeship training if you recruit/upskill a 16 - 18 year old.
If your business has a wage bill of less than £3million you are not required to pay the apprenticeship levy. You are required to co-invest by contributing 5% of the total apprenticeship cost. The Government pays the remaining 95%.
If you are a business with less than 50 employees and you’re employing an apprentice aged 16-18, then the apprenticeship training is fully funded by the Government. If you recruit or upskill an existing employee aged 19+ then you co-invest 5%.
The Apprenticeship Service is designed to help employers access new apprenticeship standards, training providers and funding for apprenticeships through an online service account.
It puts employers in control and allows you to access funding for apprenticeship training. It also allows you to choose the type of apprenticeships you want to run, the number of apprenticeships you take on, and the training provider that suits your needs.
Watch our webinar - Guide to using the Apprenticeship Service
Recruiting an apprentice is a great affordable way to bring new talent into your business. If you have less than 50 employees and you are employing an apprentice aged 16-18, this will be 100% funded by the government.
Apprenticeships have become increasingly popular across a variety of different industries. More people are choosing to forego traditional collegiate educations in an effort to join the workforce faster. The same goes for the accounting industry.
In July 2020, the Government announced it's 'Plan For Jobs' to support businesses with new incentives for the recruitment of apprentices.
On Wednesday 8th July, the government announced its Plan for Jobs. It’s a clear statement of intent that skills, apprenticeships and work based learning are at the centre of policy decisions to rebuild the economy. Now is the time to recruit, invest in young talent and future proof businesses.
A return to the workplace 'new normal' is around the corner for many employees as more businesses look to restart operations. It's a welcome move for businesses that may have struggled over the past few months with remote working, social isolation and lockdown.
With more young people choosing different routes after leaving school to continue their education, the amount of choice available is staggering. With the traditional college and university routes alongside apprenticeships and specific awarding bodies, it’s an exciting time for learning new skills.
I'm sure there have been many conversations in meetings about whether to recruit or upskill existing staff. Budgets and timescales come into question and the debate goes on as both sides have well-rounded arguments. But with a well thought out progression plan for your employees, there is no better place to look than at your in-house talent.
Read about businesses who are succeeding through apprenticeship recruitment and employee training with PM Training.