All about Apprenticeships that employers need to know
Apprentice employees do add value to businesses, and it’s a straightforward process. Below are some of the tips to consider for those who have apprentice employees and for the companies who are planning to start hiring apprentices.
Apprenticeship program was setup with the aim of increasing skill levels in the nation and motivate companies to provide apprenticeships and to show the benefits of apprenticeship to young people. The national Apprenticeship is running since 2008.
The Apprenticeship programs (starting April 2017) are funded in combination of apprenticeship levy and the government. Just 2% of the British companies pay 0.5% of their total wage bill towards the levy scheme.
|Minimum wage (Under 19):||£3.80|
|After 1 year of apprenticeship (Age: 25 and over):||£7.83 (National living wage)|
If the training expenses are more than the companies want to hire, then the payment increases to 10% of the program cost. The 90% of the apprenticeship training cost is covered by the government.
If you are hiring apprentices who are aged 16 – 18 years old, the total cost of training will be covered by the government. This concept is also applied to the companies who have 50 employees or less.
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