Apprenticeship Hiring Incentives: How can the Chancellor’s funding benefit the Digital and IT Industries?
Written on: 9 July 2020
Written by: Frances Hardcastle
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“We know apprenticeships work. 91% stay in work or go onto further training. For the next six months we are going to pay employers to create new apprenticeships.”
This was the announcement from Chancellor Rishi Sunak, during Wednesday’s summer statement, when the Plan for Jobs was launched.
From 1st August this year until 31st March 2021, employers who take on a new apprentice aged under 25 will receive a payment of £2,000. Support is also available to hire apprentices aged 25 and over, through a £1,500 payment.
The great news is that this funding is in addition to the existing £1000 government grant which already applies to new 16-18 year old apprentices. This means that some employers could claim as much as £3000 when they hire an apprentice.
At Baltic, we’re excited about this renewed commitment to apprenticeship training – as Sunak said: we know apprenticeships work. And with these new financial incentives, we hope that more employers will take the plunge, hire an apprentice, and realise the benefits of this amazing talent development opportunity.
Apprenticeships combine the structure, training and rigorous assessment of a formal qualification with invaluable on-the-job experience. As such, they are an ideal mechanism for a young person to begin a career in digital or tech roles, and for employers to cultivate a cost-effective, loyal and knowledgeable workforce.
At Baltic Apprenticeships, we specialise in Level 3 and Level 4 qualifications in Software Development, Digital Marketing, IT Infrastructure and Cyber Security. The demand for skilled workers in these specialisms is already vast, and will continue to rise.
For those committed to growing their own tech talent, hiring apprentices can be transformative. Apprenticeship programmes tackle the digital skills gap head-on, with fantastic retention rates for those who complete their qualification.