Is your business utilising its apprenticeship Levy effectively?
It’s now over 24 months after the start of the Levy programme and unused backdated funds from the launch of the Levy have now expired. It’s not too late for companies to review their Levy fund and think about strategies to utilise it effectively.
Some employers view the apprenticeship Levy as more of a tax than an opportunity, but this doesn’t have to be the case. Your Levy fund should be seen as a ring-fenced L&D budget that can be:
- Invested in valuable in-house talent development
- Hiring new staff to fill skills gaps
With 94% of employees saying they would stay with a company longer if offered training, and the UK suffering a tech skills shortage, there has never been a better time to utilise the Levy.
Our guide shows eight ways the Levy can be used, from hiring new staff, upskilling existing employees, through to how the Levy can help support other business in your supply chain.
The Levy In Practice
Years after launching, there is still a fair amount of confusion around the Levy. The Levy impacts all businesses in the UK. Employers with a pay bill over £3 million must contribute 0.5% of their pay bill towards the Levy.
Recently Just IT hosted a webinar discussing where we are with the Levy two years on from its launch, to discuss the impact it has had and whether it has achieved the objectives outlines by the government.
Amrita Singh Apprentice
The Apprenticeship is a kick-start and it has helped me get my foot in the door. I have learned a lot on the job. I have gained a lot of experience and it’s been great working with professionals – I have had these people supporting me from day one.
I think it’s great how much support you receive on the programme. University is nothing compared to real work experience. Technology is moving fast, and by the time of graduation, knowledge will most probably be outdated.
If you would like to speak to one of our apprenticship levy experts, just click belowContact us