What Funding is Available for Management Apprenticeships?

There has never been a better time to access funded Management Apprenticeships to either invest in new managers or existing staff to help future proof your business.

By offering an Apprenticeship, you can ensure that the skills developed are matched to your organisation’s current and future needs. This will help fill emerging skills gaps and allow your business to source future managers and leaders from within.  Research by the Institute for Apprenticeships and Technical Education confirms that:

• 92% of companies that have taken on Apprentices believe this leads to a more motivated and satisfied workforce
• 86% said apprenticeships helped them develop skills relevant to their organisation
• 80% have seen a significant increase in employee retention

The benefit of a management apprenticeship is that managers become qualified and apply new management skills from the outset in a way that delivers business impact.

In terms of the practical bits, you can get help from the Government to pay for Apprenticeship training.  The amount you get depends on whether you pay the Apprenticeship levy or not. You pay the levy if you’re an employer with a pay bill over £3 million each year.

As an employer that doesn’t pay the Apprenticeship levy, you pay just 5% towards the cost of training a management Apprentice. The Government will pay the rest up to the funding band maximum. For example, if you have a group of 10 Team Leaders, the Government will pay £47,500 and you will pay just £2500 over 12 months.

To access this funding, employers must:

• a safe work environment
• provide opportunities for learners to develop new knowledge, skills and behaviours in their role
• ensure that Apprentices undertake 20% ‘Off-the-job’ (approximately 6-hours per week) training during their working hours

Apprenticeships allows you to grow talent and develop a motivated, skilled and qualified management workforce.  Click here to find out more about the Management Apprenticeships available or call 0345 021 2356 to speak to an Apprenticeships expert.