Investing in apprenticeships 'makes business sense'

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Apprenticeship schemes can have a wealth of benefits for businesses

Companies of all sizes should be making the effort to understand the benefits that a focus on training the next generation of top professionals can provide, with apprenticeship programmes and trainee schemes now gaining in popularity and importance.

Figures published by the Department for Business, Innovation and Skills have shown that during the first three months of the new academic year - August to the end of October 2014 - a total of 573,000 people across the country were taking part in apprenticeships, including 353,000 16 to 24-year-olds.

Responding to the government's data, skills minister Nick Boles stated: "At 147,500, the number of people starting an apprenticeship between August and October 2014 is up on the same period in 2013.

"We have delivered over 2,140,000 apprenticeships since 2010 and will continue to make sure our young people have every chance to benefit from the life-changing opportunity of an apprenticeship."

Companies across all industries have been increasingly encouraged to set up their own apprenticeship and training programmes to help fill skill shortages within their individual fields in recent years, as this is one advantage that such schemes can have.

Other benefits include enabling businesses to train individuals with the exact skill set needed to carry out their responsibilities in the most efficient manner possible, while also creating a definite career path for professional progression - something that can be extremely attractive to young people just starting out on their career.

Meanwhile, company loyalty is also an area where apprentices often excel; meaning firms will reap the benefits of the years of training and investment that they place in these staff members by often keeping them with their company for longer and not seeing such highly-skilled individuals leave for pastures new without good cause.      

Finally, embracing apprenticeship and trainee schemes can help to foster a culture of learning within an organisation, ensuring that fresh ideas are being brought to the table at all times and more established members of staff are kept on their toes.