In the fast-paced world of manufacturing, where innovation and efficiency are crucial, businesses are always on the lookout for strategies to drive growth and maintain a competitive edge. Among these lies a powerful yet sometimes overlooked approach: the recruitment of apprentices. Let's explore the benefits apprenticeships offer to manufacturing enterprises and how they can support your business.
1.Fresh perspectives, innovative solutions
Apprenticeships inject fresh perspectives into organisations, breathing new life into established workflows and processes. Welcoming brand new talent into your team helps manufacturing businesses open the door to a wealth of new ideas and approaches in line with modern theory.
Apprentices offer creative solutions to ongoing challenges, driving continuous improvement and fostering a culture of innovation within the workplace. In a recent government survey[1], 67% of employers say that they had benefitted from apprentices’ new ideas, and 78% say their apprentices had improved productivity.
2. Tailored training for specific needs
One of the most compelling advantages of apprenticeships lies in their tailored approach to training. Unlike traditional recruitment, apprenticeships allow businesses to mould talent according to your specific current and future needs. Through hands-on experience and targeted guidance, apprentices develop skills that are directly aligned with your organisation's objectives, ensuring a seamless integration into your teams and immediate contribution to operational excellence. In fact this is the most common benefit cited by employers, with 85% sharing that apprenticeships have helped them develop skills relevant to the needs of their organisation.
3. Cultivate a skilled workforce for the future
With rapid technological progress and constantly shifting industry dynamics, the demand for an appropriately skilled workforce has never been greater. Apprenticeships serve as a tool to address this challenge, enabling manufacturing businesses to cultivate a pipeline of skilled professionals ready to tackle the challenges of tomorrow. By investing in apprenticeships today, you’re securing your immediate talent needs while simultaneously laying the foundations for long-term sustainability, growth and success.
4.Cost-effective talent acquisition
Contrary to common misconceptions, hiring apprentices is actually a cost-effective talent acquisition strategy for manufacturing businesses. Apprenticeship programmes offer lower recruitment costs compared to traditional hiring methods, allowing SMEs to access top-tier talent without breaking the bank. Apprenticeships also enable companies to shape new talent according to your business’s unique requirements, maximising return on investment and mitigating the risks associated with skill shortages.
5.Foster a culture of learning and development
Apprenticeships represent a commitment to growth and education throughout your teams, benefiting both the apprentice in training and your more experienced workforce. Integrating apprentices into your company culture helps manufacturing businesses create an enhanced organisational environment of lifelong learning and continuous improvement, positioning your company for long-term success in a highly dynamic market.
As well as helping your company to retain existing expertise by passing on skills and knowledge to the next generation, existing employees gain new perspectives and practices from the apprentices they are mentoring, and 73% of employers even say that staff morale is improved by having apprentices1.
7.Promote loyalty in your workforce
Apprenticeships can also foster a sense of loyalty and commitment among employees. By investing in the professional development of apprentices, businesses demonstrate a commitment to supporting and nurturing talent within your organisation. In return, apprentices often develop a strong sense of loyalty to the company, appreciating the investment made in their growth and development. 73% of employers have stated that apprenticeships have helped to improve their employee retention1, reducing turnover costs and promoting stability within the workforce.
8. Diversify your workforce
Did you know that every 1% increase in diversity rate of a workforce can lead to a 9% rise in sales revenue[2]? Hiring apprentices is a great way to diversify your workforce and tap into a broader talent pool.
Apprenticeships provide opportunities for individuals from diverse backgrounds and demographics to enter the workforce and pursue rewarding careers in manufacturing. By embracing diversity and inclusion through apprenticeship programmes, businesses like yours benefit from a range of perspectives, experiences and skills, enriching your organisational culture and driving innovation.
9. Apprenticeship funding
Leveraging available apprenticeship funding and support significantly offset the costs associated with employing and training apprentices. The Lloyds Bank Levy Transfer initiative gives qualifying SMEs access to £3m worth of funding, supporting companies to take on apprentices by covering the cost of their apprenticeship training.
The Lloyds Bank and MTC Training SME Support Service also offers eligible SME’s access to additional practical and financial assistance, demystifying apprenticeship funding options and derisking apprentice recruitment, employment and training. Together, we’re enabling manufacturing companies to effectively manage costs while building a skilled workforce for the future.
Should I recruit an apprentice?
Recruiting an apprentice is a strategic investment that offers a whole host of benefits for manufacturing SMEs. Apprenticeships inject fresh perspectives, innovative ideas and tailored skills into your organisation, driving continuous improvement and fostering a culture of innovation. They also serve as a cost-effective talent acquisition strategy, allowing you to access top-tier talent while mitigating the risks associated with skills shortages.
By investing in apprenticeships, businesses cultivate a skilled workforce for the future, promoting loyalty, diversifying their talent pool, and enhancing productivity. Leveraging apprenticeship funding further offsets costs and maximises return on investment, making recruiting an apprentice an efficient and effective option if you’re looking to drive sustained success and growth in the digital age.
How can MTC Training and Lloyds Bank help?
The collaboration between MTC Training and Lloyds Bank offers comprehensive support to SMEs like yours who are looking to make the most of apprenticeships.
MTC Training specialises in engineering apprenticeship programmes ranging from level 2 to level 4 across Coventry, Oxfordshire, and Liverpool. With state-of-the-art training facilities, a dedicated recruitment service, expert trainers, and customised training journeys tailored to your business’s needs, we’re here to help you train the next generation of your workforce, today.
Alongside this, Lloyds Bank’s generous financial support helps eligible SMEs to take on apprentices smoothly and efficiently, covering the cost of their apprenticeship training and funding first-year apprentice salaries.
To learn more about how our partnership can help you to future-proof your team and your business, visit our blog (LINK TO BLOG 1).
If you're interested in exploring what we offer and discovering how we can enhance your workforce's skills, reach out to our friendly team at employers@the-mtc.org or call 02476 701 801.
References:
[1] https://assets.publishing.service.gov.uk/media/628cb3a5e90e071f6646106e/Final_AEvS_Employer_Report.pdf
[2] https://assets.ctfassets.net/8kbr1n52z8s2/3ITT0R7DfZwRMKkxLN501M/38c59bcbe1133acaa2ae48936ac75fcc/CCS0122135050-003_ADCN_report_-_Web_accessible.pdf