While you are facing the prospect of paying off many years of student debt, work experience will help the university's students to gain practical knowledge while studying side by side.
What is an apprenticeship?
An apprenticeship can last from between one to four years. The full-time apprentices work at least 30 hours every week at the national minimum wage for their age. However, part of their week will be spent studying at college for a work-based qualification and this is a part of their paid contracted hours. As per small business owners' point of view, taking on an apprentice can be an added advantage. How apprentice can help a small business grow are given below:
1. Cost-effective employment:
Hiring an apprentice might be more affordable. The national minimum wage for apprentices between 16 to 19 during the first year of their apprenticeship is just £3.5 per hour. You might be able to get additional funding to help make payments for the apprentice via government apprenticeship funding from May 2017.
2. Proper Knowledge about the job:
Since apprenticeships combine study with real-life work, they might be a very useful tool to help small businesses owners bring valuable new skills into the workplace without it costing a huge amount. The young people are not only getting a fantastic opportunity but you will also gain a highly-skilled, experienced and competent employee at the end of the apprenticeship, which is perfectly suitable for a business.
The advantage of allowing an apprentice to learn on the job is very valuable for the employer. When hiring a graduate you will never know if the person is a perfect fit for your job until they have been working with you for some time. By hiring an apprentice, you will have a chance to train and shape them into an efficient employee.
3. Building trust and integrity:
If you hire apprentices you are not only helping them get a job but also will boost your integrity and raise the profile of your business at the local level. Local custom and community feeling is an important factor for your business. The way people perceive your company can often be connected to your success. If you are recruiting apprentices locally, the local people will be more inclined to purchase from you or use your services.
This will provide you with a good idea about the kind of apprenticeship you need to offer, and the chances of receiving government funding for receiving the position.