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Financial uncertainties are forcing companies to replace and rethink their expertise necessities, to ensure they’ve the workforce and future expertise required to navigate monetary pressures whereas remaining aggressive of their markets.
Nichola Hay, Director of Apprenticeship Technique and Coverage at BPP explains that in consequence, the so-called battle for well-fitting expertise wages on, with analysis suggesting that round 75% of UK companies are experiencing expertise shortages, staggering enterprise and financial progress.
To deal with this problem, enterprise leaders should make investments extra strategically to not solely equip their current workforce with the required expertise to fill essential vacancies, however to additionally entice a wider pool of latest expertise. This might be achieved by introducing skilled apprenticeship programmes that may assist companies repeatedly adapt to modifications in expertise necessities, whereas boosting resilience in the direction of surprising financial modifications.
The enterprise case for introducing apprenticeships
The total potential of an apprenticeship programme may be neglected by the enterprise neighborhood – sometimes associating it with making a pipeline solely for college/faculty leaver expertise. However in actuality, skilled apprenticeship programmes may be tailor-made to a companies’ wants.
Whether or not they’re used for attracting expertise with a contemporary perspective and expertise to determine new enterprise alternatives, used as a software to retrain current staff, or to upskill staff in rising or nascent areas equivalent to AI and inexperienced expertise – apprenticeships ought to be seen as a necessary software for each workforce planning and other people growth.
Furthermore, providing an apprenticeship programme can create new channels to construct and entice a extra various expertise pool. Whether or not it’s full-time carers, the long-term economically inactive or latest graduates trying to enter/re-enter the workforce, an apprenticeship can create a chance for these candidates who might by no means have utilized for a task as a consequence of their lack of direct expertise or conventional {qualifications}.
Boosting workers retention
One of many largest challenges for companies going through financial headwinds and rising operational prices, is the knock-on influence on staff, who could also be going through short-term wage stagnation and, consequently, searching for different employment at competitor organisations. This creates additional unfillable vacancies and may ship a major blow to a enterprise’ productiveness.
Apprenticeships are a good way to handle these challenges, equipping staff with new expertise and offering them with a pathway to promotion, strengthening the enterprise’ credentials as a supportive employer throughout troublesome financial occasions. For instance, if a enterprise is wanting workers in center administration, as an alternative of on the lookout for expertise externally in a tough labour market, and doubtlessly hiring somebody much less expert than desired – an apprenticeship programme would enable current workers to retrain for promotion. This may unlock potential that already exists within the present workforce whereas boosting worker morale.
Remaining ideas
By apprenticeships, growing the talents of your workers is not going to solely assist enhance enterprise resilience by creating a various, multi-talented workforce, however it’ll additionally assist with workers motivation and retention. By offering workers with the chance to upskill, retrain for promotion, or switch to different areas of the enterprise, companies can present a powerful dedication to their progress and growth.
Though skilled apprenticeship programmes gained’t be the reply to all enterprise wants and challenges, they will present a wonderful resolution to many essential issues. It could possibly act as a workforce planning software to shut expertise gaps tailor-made to the necessities of what companies have to supply, enhance expertise retention, and create a extra various expertise pool.
Apprenticeships also can create a extremely resilient workforce important to gas enterprise progress and seize new alternatives for enlargement throughout occasions when organisations might have it probably the most.
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