- Eight in ten managers see apprentices as important part of growing their business
- New research shows the right people and skills are ten times more important to expansion than access to finance
- Apprentice employers five times as likely to rapidly expand their business
- Major UK companies commit to expanding their apprenticeship programme
New research released to mark the start of National Apprenticeship Week has found businesses place apprentices at the heart of their plans to rise to the top and rank hiring the right staff as the most important factor in helping them grow. [1]
Apprenticeships are at the heart of the Government’s drive to equip people with the skills that employers need to grow and compete and today’s research shows that eight in ten managers believe apprentices are vital to their organisation’s expansion plans.
The research also showed that managers hiring apprentices were five times more likely to believe the company would expand rapidly, than those that don’t. [2]
Two thirds (61%) of managers in growing firms felt that hiring the right staff or having employees with the right skills was the most important factor in realising the company’s ambitions. [3]
The new independent research for the Skills Funding Agency found that the right people and skills are ten times more important to businesses when it comes to expansion than access to finance.
National Apprenticeship Week launches today with an event at London’s Shard that is designed to encourage more businesses to take on apprentices. To mark the start of the week, seven top companies are announcing major commitments to apprenticeships, including Starbucks, Prezzo, Fortnum and Mason, Deloitte, Greene King, BT and Addleshaw Goddard.
Throughout the Week, employers of all sizes will be coming together to showcase how apprenticeships help them #RiseToTheTop of their industry.
Full details of the events happening across England can be found on the events map.
Follow @Apprenticeships, @TraineeshipsGov and #NAW2016 for all the latest news, pictures and videos.
To find out more about National Apprenticeship Week 2016, go to www.gov.uk/naw2016
[1] Morar (formerly Redshift) interviewed 3,989 employees online in the week of 29th February 2016, of which 1,814 said their company was planning to expand. 917 of the sample were line managers in a business and 757 of the sample had co-workers who were apprentices.
[2] Almost one in five (18%) line managers claim their company is set to expand rapidly, with a further 52% saying their firm will grow more gradually. Among apprentice line managers, 25% believe their firm will expand rapidly vs 6% of those line managers without apprentices.
[3] Four in ten (42%) managers in these growth firms felt that hiring the right staff was the most important factor in realising the company’s ambitions, with more than two-thirds (68%) saying it was either the first or second most important factor. A further 19% employees stated having the right skills as the most important factor.
Percentage ranking each factor as the most important in affecting growth:
Factor |
All workers |
SMEs (i.e. under 250 employees) |
Line Managers |
Those with apprentices |
|
Hiring the right people |
41% |
42% |
42% |
43% |
|
Right skills |
21% |
21% |
19% |
21% |
|
Getting more orders / clients |
17% |
18% |
18% |
17% |
|
Creating the right reputation |
10% |
10% |
10% |
9% |
|
Finding finance |
7% |
6% |
6% |
6% |
|
Product / service design |
4% |
4% |
5% |
5% |