How Employers can Take Advantage of the Apprenticeship Incentive
There is a brand-new apprenticeship incentive from the government that has been put in place to help employers hire new apprentices during the hard times of the Covid-19 pandemic. The incentive is set to end in January 2021, so if you are interested make sure to act now to not miss out.
This article will take you over everything you need to know about the apprenticeship incentive.
The apprenticeship incentive explained
Until January 2021 if you hire an apprentice you will be entitled to the government’s apprenticeship incentive. If you hire an apprentice from age 16- 24 you will get £2,000, if your new apprentice is over the age of 25 you will get £1,500. The incentive will stack on top of the £1,000 incentive that employers already receive for hiring an apprentice aged 16- 18. There has never been a better time to use your apprenticeship levy fund.
What you could use the apprenticeship incentive money on
The extra £2,000 that you will be receiving (if you hire an apprentice aged 16- 24) due to the apprenticeship incentive can go toward your new apprentices’ salary. The minimum wage for an apprentice is £8,000, that means the £2,000 incentive reward would cover 37.5% of the apprentice’s salary.
Why hiring an apprentice during Covid-19 is a good idea
You may be asking yourself, what are the benefits of hiring an apprentice during these hard times? The truth is that apprentices can bring a lot to the table when it comes to growing your business in this current highly competitive environment.
At Estio one of the key attributes we see in our apprentices is that they are go-getters who will work really hard for your business. The type of people who want to start their careers with an apprenticeship are those who really want to get their hands dirty with some real work. Apprentices value work that they can learn from, so having the opportunity to gain that experience drives them to go that extra mile to get the task done to the highest standard possible.
By recruiting an apprentice, you bring fresh new talent into your business. Getting young talent with a fresh pair of eyes on your team can help with getting a new perspective on what your business is doing well at and what you can improve on. Now that generation Z (a generation that has grown up in a world of fast-paced changing technology) are entering the workforce they will be able to bring their technical knowledge with them that will help your business make the most of the technology available today.
Covid-19 has been hard for a lot of businesses, budgets are being stretched thin and as a result there may not be enough resources to hire new staff members. Apprentices require a lower pay so hiring an apprentice is a fantastic cost-effective way to grow your team.
The pandemic has also hit young people hard, many of which feel like there is now no chance that they will be able to land their dream job in a declining job market. Employing a young person as an apprentice will means helping a young person develop their professional skills so that they can start a path to their dream career during these difficult times.
Hire an IT apprentice today and get your apprenticeship incentive bonus today with Estio Training
At Estio Training we offer a wide range of level 3 and level 4 IT apprenticeships. Our high-quality courses will give your apprentice all the vital knowledge that they need to become a professional in their field. Remember the government apprenticeship incentive ends January 2021 so if you are thinking of employing an IT apprentice click here to contact us today or give us a call on 01133 500 333.