Invest in Skills
Investing in skills, including apprenticeships, is crucial for developing a capable and adaptable workforce. This commitment addresses skill shortages, aligns employee abilities with evolving industry needs, and boosts productivity, innovation, and competitive advantage. By prioritising skill development, businesses can reduce turnover, enhance employee engagement, and secure long-term growth and sustainability.
Apprenticeships make good business sense
Apprenticeships offer practical, hands-on training that bridges the gap between academic learning and real-world application, cultivating a pipeline of skilled talent tailored to your company's specific needs. Apprenticeships can be utilised to upskill existing staff as well as new hires, ensuring all employees remain current with industry advancements.
The Benefits to Your Business
- Develop own skilled workforce resulting in reduced staff turnover, recruitment fees and time.
- Future proof your success through succession planning and workforce strategy to reduce future skills gaps.
- Diversify your workforce and enhance your business culture.
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For those apprentices aged 16-18 at the start of the Apprenticeship there is no employer contribution. For those 19 and over, an employer contribution varies with each framework.
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You could also be eligible for an incentive payment of £1,000 for every 16-18 year old Apprentice you employ!
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About The Levy
The levy is a formal way for some employers operating in the UK to make an investment in apprenticeships. Find out more about the levy below.
Our Student Experiences
See what our current students have to say about their experiences
Partner with Oaklands
Oaklands will support your business at every stage from your initial enquiry to celebrating the successful achievements of your apprentices. We will guide you through the recruitment process, including advertising your job opportunities, and the initial screening of candidates. As a partner in your success, we provide ongoing support and guidance on apprenticeship reform and evolving government policy.
Myth Busters
Fact - Apprentices can be new team members or existing staff - you can use it to upskill any member of your workforce if you wish
Fact - The levy will only apply to businesses with a pay bill of more than £3 million. The levy will be collected monthly by PAYE alongside Income Tax and National Insurance.
Fact - Not necessarily. In any apprenticeship, 20% of the working week should be spent outside the workplace. For many, this can be a day at College but it has to be off the job training.Â
Fact - Apprenticeships are available to all ages and can be used to upskill your existing staff. An employer contribution may apply.
Employers in England will be able to reclaim their levy contributions as digital vouchers to pay for training apprentices. The Government has announced unspent funds in an employer's digital account will expire 24 months after being issued.
Fact - All employers who do not pay the levy will be able to access government support for apprenticeships.
Fact - The levy fund can be used for any published Apprenticeship course, whether it is a new Standard or an existing framework.
Apprenticeship Funding
Your apprenticeship levy contributions can finance training for both new hires and current employees. For companies not subject to the apprenticeship levy, the government will cover the full cost of training for apprentices under 22 years of age. For apprentices over 22, the government will fund 95% of the training costs, with employers contributing the remaining 5%. Additionally, if you hire an apprentice aged 16 to 18, you will receive a £1,000 incentive.
To find out more about funding options to support apprenticeships in your organisation, please contact us.
