Hiring an apprentice is considered a very financially viable way to recruit and train new team members. Here is what you need to know about the true cost of an apprentice.
Salary
Employers are required to pay their apprentices a minimum of £2.73 per hour for those 16-18 and for those aged 19 + in the first year of their apprenticeship. Employers must pay their apprentice for all hours in the workplace and the time spent with their training provider.
Funding
Runway Training deliver training to your apprentice free of charge, we do this by obtaining government funding. As the apprentice’s age rises, the government funding decreases, often training providers ask for a paid employer contribution. Runway Training do not ask the employer for any monetary contributions.
Time commitments
As with all new employees, organisations will need to spend time with their new team members, introducing them to the business, teaching them about the software used and internal practices and policies. Often an apprenticeships is a first time job for some, so will need a little more employer support to ensure they understand certain business etiquette i.e. How to book holidays or what information to gather on answering the phone.
Financial Incentives
As well as a reduced salary and ongoing support from training providers, organisations with less than 50 team employees may benefit from the AGE grant (Apprenticeship Grant for Employers). This £1500 grant is to support employers who would not be in a position to recruit without this. This is available for up to 5 apprentices per employer!
If you would like to speak to us about Apprenticeships or any of our Training courses, please call us on 01732 402402 or email [email protected]
