Businesses should include apprenticeships in their employment strategy to extend customer base
Businesses that take on apprentices are likely to attract more customers and boost profits, a study launched to mark the start of National Apprenticeship Week 2015 has been able to reveal.
The new research, “The Benefits of Apprenticeships to Businesses” was carried out by the Centre for Economics and Business Research (CEBR) and revealed that consumers prefer to do business with companies employing apprentices.
In fact, the study found that two-thirds of consumers view companies offering apprenticeships as contributing to society, with five million more likely to make a purchase from an apprentice employer.
One-in-four consumers said they would pay more for goods and services from companies employing apprentices, with plumbing, hairdressing and eating out the services they were most willing to pay a premium for.
Those surveyed said they were prepared to pay between 1.2 and 2 per cent more as a price premium. Aggregated across key sectors in the economy, this could equate to an additional £18 billion a year in consumer spending, the report said.
The survey found that, once trained, a typical apprentice delivers productivity gains of more than £10,000 per annum, rising to almost double that in the construction and planning, and engineering and manufacturing sectors. The figures show that whilst training, each apprentice in England is estimated to deliver an average positive net gain of £1,670 per annum to their employer.
Tensor Time and Attendance Systems are the perfect tool for apprenticeship management
Managing all of the young people participating in apprenticeship schemes will not be a very easy task, especially if we happen to be talking about larger companies willing to take on a larger number of trainees.
However, Tensor plc can help your company manage extra staff coming in via traineeship schemes, as we supply a full range of solutions designed specifically to streamline workforce and skill management within companies of any sizes. Our WinHR suite enables managers to save and easily access a wide array of data pertaining to each of their employees, thus allowing them to better use the available resources and skill ranges at any given moment.
Moreover, Tensor’s range of products offer both a high level of reliability and good value for money, which means that companies who do decide to implement our solutions will immediately see the returns, without taking a hit as far as their balances are concerned.
If you’d like to find out more about the range of workforce management and Time and Attendance solutions supplied by Tensor, just contact us or Book a Demo, our representatives will be more than happy to answer any questions or queries you might have.