For those companies paying into the Apprentice levy it’s important to ensure you’re maximising the benefit of this fixed cost as it may provide more opportunities for your workforce than you realise.
Labelled the Apprentice Levy, it can be easy to see how you’d think the funds can only be used to recruit younger colleagues into the business through apprenticeship schemes. This training fund however can also provide some great development opportunities for your experienced workers.
How does the Apprentice levy work?
If your business has an annual pay bill over £3 million a year you’ll already be making payments into the levy scheme, 0.5% of your annual payroll together with a 10% top-up from the government once the funds have been used.
What can the funds be used for?
As well as recruiting and training new apprentices into the business, the funds can also be used to up-skill existing colleagues or provide training to help them progress into another role in the business.
Courses and qualifications must be operated by an accredited provider to be eligible to use Apprentice Levy funds, but there are a wide range of levels and subjects covered, including;
- Civil Engineering
- Nuclear Engineering
- Rail Engineering and Maintenance
- Building Services Engineering
- Construction Management
- Supply Chain Management
- Project Management
- Business Administration
Courses range from 18 months to several years, and can provide colleagues with the opportunity to gain certificates of higher education and even bachelor’s and master’s degrees as they work.
What can I find out more about courses available?
You can search for courses and qualifications uses the government’s online apprentice training tool.