As we speak to more and more employers about the Apprenticeship Levy, set for introduction in April 2017, the common reaction of many is that it will hit their bottom line – adversely. But by making the best use of the funds available in their digital account they can unlock the potential of their employees and help their business to achieve its strategic objectives. Still hitting the bottom line – favourably.
A part of Interserve, we have a unique perspective as a major employer and a leading training provider. During the last six months we have joined those two strengths together and been working collaboratively right across Interserve to develop a joined up approach to our levy programme.
We have used this learning when we have subsequently met and worked with employers, helping them to understand the levy, the impact it will have on their business, the additional funding available and how they can leverage all the funds available to achieve the best outcomes.
We have a dedicated team of commercial analysts who have worked with employers, helping them understand their workforce and business goals. Our commercial team has been working alongside employers using a suite of bespoke levy analysis tools, built on the back of 20 years’ experience of delivering and managing apprenticeship programmes.
Calculating the amount a business would spend on apprenticeship training can be more complex than it seems at first glance. Factor in additional payments for young or disadvantaged learners, government top ups, the impact of staff turnover and non-completion rates, and the picture quickly becomes complex. Employers could easily find themselves underspending on their account, and with funds expiring after 24 months they lose access to valuable opportunities to widen their talent pool.
Using bespoke tools, our team is creating detailed levy account forecasts for multiple employers. Our detailed analysis enables employers to:
- Make effective business decisions on how to make optimum use of the funds in their digital account
- Take advantage of co-funding, where the government pays 90% of training costs; and
- Understand the wider financial impacts, such as National Insurance savings.
With only a few months left until the levy will be applied, this is the right time to develop a robust plan for deriving best value through the apprenticeship levy and investing in your current and future workforce.
We have a dedicated team of commercial analysts, project managers and curriculum experts ready to help you understand your workforce and create a tailored plan to fully utilise the levy, understand the wider benefits of apprenticeship programmes and support your business.
Get in touch for a free consultation and let us help you meet the challenge head on.