Could Apprentice Schemes End Staff Shortages?
- March 8, 2019
- Posted by: Alex Baker
- Category: Automotive Industry
The Government have set a target of seeing at least three million apprentices added to the UK workforce by 2020.
Offering young people apprenticeships gives businesses the chance to play an active role in moulding their future workforce and creating the future skills that they need to help their businesses grow.
Leading the way
Lookers have set their sights even further and are hoping that by the end of the decade they will never have to recruit technicians from the outside again. They also recognise the benefits of apprentices in other roles and as such are considering widening their apprenticeship scheme to help solve future management staffing challenges.
Employing an apprentice is a highly cost effective way to increase your workforce. Studies have shown that over 80% of businesses that employed apprentices found their productivity had increased as a result. The average apprentice increases productivity by £214 a week, while the minimum wage is just £2.68 an hour for 16 to 18-year-olds.
Keeping up with technology
The world is moving at such an incredible pace, it’s easy for your dealership to be left behind. An experienced workforce has its own benefits but bringing in a fresh blood with up to date knowledge could revolutionise your business. As the competition for skilled people increases, apprenticeships allow businesses to effectively fill their skill gaps and plan ahead. Government schemes like higher apprenticeships, which offer degree level qualifications, also allow you to develop existing staff.
The IMI say that typically within 18-24 months, apprentices will start to generate profit – and often within just 12 months. The typical ROI of an apprentice was found to be between 150% and 300%, and the study also revealed that vehicle technicians who were taken on and trained as apprentices by dealers invariably outperformed technicians recruited from elsewhere in the market.
For more information on how to improve your dealership’s performance this year, get in touch with the digital experts for independent dealers today on: email@example.com, 01782 478 220 or via our contact page.