The real costs and benefits of apprenticeships

Launched in 2018, the St Martin's Group is a membership organisation created to support the UK economy by fostering a sustainable, quality-focused and employer-led apprenticeship and skills system. This report was commissioned by The St Martin's Group, in collaboration with City & Guilds and [Northern Council for Further Education] NCFE, and conducted by the Centre of Economics and Business Research. This report aims to provide the further education and skills and business sectors with up-to-date insights into apprenticeships. In doing so, it seeks to debunk myths and clearly communicate...  [+] Show more

Launched in 2018, the St Martin's Group is a membership organisation created to support the UK economy by fostering a sustainable, quality-focused and employer-led apprenticeship and skills system. This report was commissioned by The St Martin's Group, in collaboration with City & Guilds and [Northern Council for Further Education] NCFE, and conducted by the Centre of Economics and Business Research. This report aims to provide the further education and skills and business sectors with up-to-date insights into apprenticeships. In doing so, it seeks to debunk myths and clearly communicate the real costs of hiring an apprentice in the current UK landscape. It also demonstrates how businesses and individuals benefit from apprenticeships, with the aim of encouraging greater participation as the UK recovers from the [Coronavirus Disease 2019] pandemic. Including sector insights and data, alongside a bespoke survey and qualitative interviews with employers, the research showed that many of the upfront costs can be recovered much earlier than anticipated, with 98 per cent of employers reporting additional benefits such as filling skills gaps and providing value for money. Given the extensive nature of the research, only the most pertinent findings were included in the formal report. The full data sets are presented in a supplementary technical data report.

Edited excerpts from publication and publisher's website.