Over the last year, there has been various Government-backed funds and schemes introduced to assist businesses bouncing back with the help of apprenticeships.

Choosing the correct scheme to suit your business is essential and it will depend on a range of factors including staff needs, cash flow and specialist experience and training.

Therefore, we have put together a summary of each of your potential options:

Apprenticeships

In a nutshell, apprenticeships are jobs that provide training to ensure an apprentice is fully prepared for a successful career.

These schemes are designed to enhance confidence by developing practical skills and make sure that the individual is fully competent in their occupational field.

Throughout an apprenticeship, there must be a set of standards.

Employers can then monitor their learning against company standards and assess whether they have a full understanding of them as part of an End-Point Assessment.

Employers who take on an apprentice aged between 16 and 18, or those aged under 25 with an Education, Health and Care Plan, can apply for a payment of £3,000 for new apprentices who have an employment start date of 1 April 2021 to 30 September 2021.

The incentive payment is in addition to the £1,000 employers already receive for hiring an apprentice:

  • aged 16 to 18 years old
  • under 25 with an education, health and care plan or who has been in the care of their local authority

To receive the full payment, the apprenticeship must last for at least one year.

When the apprentice reaches their first 90 days, half of these payments will be made directly to the employer. The other half will then come on day 365 of the apprenticeship.

A recent survey discovered that 81 per cent of employers think that apprentices make their business more productive.

Not only this but apprenticeships can reduce training and recruitment costs whilst also developing a future employee with the right skills and motivation.

The Kickstart Scheme

Launched on 2 September 2020, the Kickstart Scheme is a relatively new scheme to provide employers with the funding to create job placements.

These placements can start at any time until December 2021 and are aimed at 16 to 24-year-olds on Universal Credit.

No matter the size of your business, all can apply for this funding.

The Kickstart Scheme can cover 100 per cent of the national minimum or living wage for 25 hours per week for a total of six months. As well as this, funding can also cover associated employer National Insurance Contributions (NICs) or employer minimum automatic enrolment contributions.

This is a great option to not only grow but also invest in young people that have struggled due to the pandemic.

Traineeships

A traineeship is a skills development programme that involves a work placement.

This is designed for those aged between 16 and 24, unqualified or qualified up to a Level 3 (A-level or equivalent).

This also aims to target individuals who prefer to find a job or apprentice but lack the skills and experience sought by employers.

Ultimately, a traineeship is a programme of learning and skills development, it is not a job – unlike an apprenticeship.

These programmes can last from six weeks up to a year – however, most tend to last less than six months. In 2019, 75 per cent of trainees started an apprenticeship, employment, or further learning within 12 months of starting the traineeship.

In July 2020, the Government provided an additional investment of 30,000 new traineeships and employers could access a new work placement incentive of up to £1,000 per learner for up to ten trainees over nine regions.

Traineeships ensure that a customised programme is developed to suit your business needs. It also brings in young, motivated people, that can renew energy and guarantee you capture the best talent before they are snapped up by competitors.

HR Caddy is aware that when it comes to business, there isn’t a one fits all approach.

That is why we tailor our HR services to the needs of our clients, whether it’s advising on the best onboarding process or helping attract the best, young talent.

For more or advice on related matters, please contact us today.