Apprenticeships for employers.
The apprenticeship levy is a contribution made by large employers with a pay bill exceeding £3 million annually. Presently, only a small fraction, about 2% of employers, are subject to this levy, calculated at a rate of 0.5% of their total annual pay bill.
Each employer subject to the levy possesses a digital account from which they can access their levy funds for investing in apprenticeship training. Smaller enterprises, defined as those with an annual pay bill below £3 million, cover just 5% of the training costs, with the government funding the remaining portion.
Upskilling your team through these training programs is a proactive, cost effective, and efficient method for nurturing talent, cultivating a dedicated, proficient, and certified workforce, and bridging the skills gap.
According to statistics:
- 86% of employers reported that apprenticeships aided in skill development relevant to their organisation.
- 78% of employers stated that apprenticeships contributed to enhanced productivity.
- 74% of employers acknowledged that apprenticeships led to improved product or service quality.
Additional advantages of employing apprentices include:
- Customising their training to align with your business requirements
- Their natural motivation to acquire new skills
- Opportunities to expand and enhance your workforce
Apprenticeship Levy.
The levy was introduced to create long-term, sustainable investment into apprenticeships.
The levy was introduced to create long-term, sustainable investment into apprenticeships and to give employers more control over the range of training opportunities they provide their staff. The levy itself is funded by any large employers who pay over £3 million per year. Currently, this means 2% of employers pay into the apprenticeship levy but, this funding has directly supported almost 50% of apprenticeships since 2017.
How AGTS Works with your business for apprenticeships?
We will support your organisation to better utilise the apprenticeship levy. Your dedicated account manager will analyse where you are currently using your budget on qualifications and find ways to better utilise where you are spending. We will also work alongside you to manage your apprenticeships and other qualifications. If we don’t offer the course ourselves, we’ll source the apprenticeship qualifications you are looking for and work with your staff to make the onboarding process as smooth as possible.
