Businesses should make the most of the recently introduced apprenticeship levy, which can not only help companies secure new talent, but progress existing talent, according to the principal and chief executive officer of the University College of Estate Management.
In April, laws were implemented to charge employers turning over an annual pay bill of £3 million or more an apprenticeship levy, which is currently 0.5 per cent of a company’s yearly pay bill. Businesses can then receive levy funds to spend on training and assessing apprentices who work at least 50 per cent of the time.
Writing in Construction News, principal of the University College of Estate Management Ashley Wheaton said: “Apprenticeship schemes offer an excellent toolset for addressing workforce strategies.”
Education of younger workers in the built environment disciplines can help solve the skills gap and ensure talent continues to enter all areas of the industry at all levels, he said, while securing the right education provider is key to achieving apprentice potential and ensuring that staff attain appropriate qualifications.
Not only can apprenticeships attract new talent and educate the younger generations in built environment disciplines, they can also help current employees progress and form a key part of employers’ engagement and retention plans, Mr Wheaton added.
Many businesses are yet to develop a recruitment strategy for apprentices, he continued, going on to warn companies that failing to make plans soon could mean that they miss out on the top talent, education providers or even risk losing their funds altogether.
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