With the Apprenticeship Levy on our headlines recently, we thought we’d take advantage and give you the low down of what businesses can expect from the new regime.
Recent statistics show 50% of 16-18-year-olds will consider an apprenticeship after leaving school as their route into employment due to the valuable work experience, skills and chance to earn money apprenticeships offer. Rising university tuition fees may be another reason why an increasing number of young people are considering apprenticeships, as well as the belief an apprenticeship will fast track a career over university.
The Apprenticeship Levy comes into effect from 6 April 2017. This will increase the amount of training and apprenticeships that are on offer around the country thanks to a change in the way the government funds apprenticeships.
So, in a little more depth, what is the Apprenticeship Levy? The overall purpose of the levy is to encourage employers to invest in apprenticeship programmes and to raise additional funds to improve the quality and quantity of apprenticeships. All employers in the UK’s private and public sectors with an annual pay bill of over £3 million will have to make an investment in apprenticeships.
The levy will affect large employers across the country, including Pertemps. The amount we have to pay toward the levy is 0.5% of the company’s payroll. This money goes toward paying for apprenticeship training and assessments.
So what does all this mean for Pertemps? We are launching Pertemps Training Solutions this month which will provide apprenticeships and other bespoke training to clients and internal staff. This division will include teams of trainers and assessors whose primary responsibility are to ensure people’s success in gaining qualifications. Clients will also benefit from Pertemps Training Solutions as we discover their needs to adapt new training programmes tailored to them.
Taking part in apprenticeships and training result in an increased skillset and job fulfilment which can only have positive impacts on business. At Pertemps we are ready for the impending Apprenticeship Levy and can’t wait to get started with our training programmes! Read more about our training program on our dedicated web page.