Bonuses paid to businesses hiring apprentices before 31 March

Apprenticeships are a great way of getting new staff on board and trained up in a cost-effective way that will benefit the future of your business.

Article summary: Apprenticeships are a great way of getting new staff on board and trained up in a cost-effective way that will benefit the future of your business.

Now’s the time to make this happen, as there are just 7 weeks left to take advantage of the government apprenticeship incentive, which is offering bonuses of up to £2,000 for each apprentice employed.

Until 31 March 2021, any organisation that hires a new apprentice aged 16 to 24 will receive £2,000 for each apprentice they hire (this is in addition to the £1,000 incentive already in place for new 16 to 18 year-old apprentices), offering a potential £3,000 incentive per apprentice. Employers hiring new apprentices aged 25 and over will be paid £1,500 per apprentice.

The payment can be spent on anything to support your organisation’s costs such as uniforms, your apprentice’s travel or their salary and it does not need to be paid back. Although apprentices have to be signed up and to have commenced employment by 31 March 2021 to be eligible, you will have until 30 April 2021 to apply for the incentive.

Apprenticeships have been revamped in recent years with the new Apprenticeship Standards being introduced from 2014. 25% of all new apprenticeship starts were on Standards by 2017/2018 and this was expected to reach 100% by August 2020.

In 2018/19 there were 742,400 apprenticeship starts in England alone, a testament to their popularity and effectiveness. The new Standards have revolutionised apprenticeships, focusing on the knowledge, skills and behavioural competencies required for specific roles.

Their development and the transition from Frameworks has benefitted employers, putting them in the driving seat and enabling them to have more control over the areas of training undertaken, both on and off the job.

On completion of their apprenticeships, many employees progress on to senior positions, becoming valuable assets to their employers. When the government apprenticeship initiative was announced by Chancellor Rishi Sunak last August, he stated: “We know apprenticeships work. Ninety one percent stay in work or go on to further training.”

The BBC reported that apprenticeships are a great way of kick-starting your career, especially if you want to earn as you learn, rather than fork out over £27,000 on university tuition fees alone. One of the apprentices featured in the report explained that she was offered a place at Durham University, which she rejected in favour of a management consultancy apprenticeship with an accountancy firm. She said: “I feel really proud of myself in terms of what I've achieved. I'm earning a salary. I don't feel I missed out, I just went about it a different way.”

Partner with PETA

As an employer, if you’ve identified a skills gap within your business or you’re simply in need of additional staff and you’d like to ensure they are trained with your business in mind, an apprenticeship is the ideal solution. At PETA, we will work with you to create an apprenticeship role that will fulfil your business needs and more.

We have a great reputation for delivering successful apprenticeship programmes, which is why the best employers choose to partner with us to recruit and train new staff in the roles they require. We offer apprenticeship programmes in the areas of IT and Digital, Business, Engineering and Management.

Apprenticeship training is flexible and can be adapted to the needs of your business. Using a framework of standards set with a training provider, you can train a new apprentice in your business practices, safe in the knowledge they are building the right skill set from day one.

At PETA, we have a highly experienced team on hand to help you with anything from developing your recruitment strategy to managing your apprenticeship funding, to ensure you maximise your investment in apprenticeships. There are many advantages of employing an apprentice and we’re on hand to chat these through with you if you wish.

The icing on the cake is that thanks to the introduction of the Apprenticeship Levy, and the Co-funded models for smaller businesses, 95% to 100% of the apprentice training costs will be government-funded! The Apprenticeship Levy was introduced in 2017 to create national funding for apprenticeships and enable businesses of all sizes to implement their own apprenticeship programmes.

To take advantage of the government apprenticeship incentive, your new apprentice must be signed up and have started in their new role by 31 March 2021. To find out more, please get in touch.

 

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