Maximise your Funding: How to get the most out of the Apprenticeship Levy

The Open University reported that nearly £120m in apprenticeship levy money is swallowed up by the government every month, meaning companies simply aren’t taking advantage of the funding available to them. The apprenticeship levy is designed to make taking on apprentices more attractive. The levy is used to fund apprenticeship training and there are many ways to make the most of the funding and enhance your workforce through apprenticeships. Consider these three options:

Train your Managers

Many companies don’t have a good level of management skills, even within their management team. Management staff need to feel comfortable and confident in their roles and additional training can be key to helping them fill their roles more effectively. The apprenticeship levy can be used to send management staff on relevant courses, set at the correct high-level they need to push forward and further develop their management training for the benefit of your business. These courses are already paid via the apprenticeship levy so any worries about additional costs can be forgotten about.

Hire Graduates

Many people believe the apprenticeship levy is only for young employees being brought onboard straight from school. This is simply not the case. You can utilise the apprenticeship levy to build the skills and training of graduates you have hired. Newly graduated employees may have a great background and education to start work with your company, but they may need some niche and industry-specific training to fully reach their potential. Your levy contributions can be used to send graduates on relevant, accredited courses to ensure they have the additional industry training required to thrive in your business.

Invest in your Staff

Your existing workforce may have many hidden talents you can tap into with the right training and guidance. As well as mentoring and internal training and support, you could consider upskilling your staff through a range of levy-funded courses. The changing working environment means even your best staff may need redirection in certain areas such as effective video conferencing and remote account management, and there are courses out there available to support them and benefit your business as a whole. The apprenticeship levy can be easily used to upskill internal teams, helping them to ensure they are prepared for advancing their role and adapting to the changing work environment.

Not making use of the apprenticeship levy does not make sense if you’re hoping to move forward as a business and support your employees to be the best they can. Continued professional development and learning options not only drive a proactive workforce, they add to your business’ value and mark you out as an employer willing to invest in its people. This is something all companies should strive for.

Get in touch today to get the most of the Apprenticeship Levy