Many business owners are in the throes of recovery from Brexit, Covid19 and the recent war in Ukraine. One of the solutions business owners are turning to is cutting costs where they can to minimise the devastating impact of the last few years.
Cutting Costs, Maximising Profits
Slashing the wage bill without cutting jobs is practically impossible. New hires do not come cheap. These factors have certainly contributed to the growth of the gig economy. However, the emerging downside is that (as always) good people are hard to find and retain due to the high demand for their time and talents. Appealing to those currently working in the gig economy requires flexible thinking that can be inconvenient for companies.
With the pandemic still snapping at our heels, companies have been forced into the uncomfortable situation of employees who prefer to work from home. Additionally, companies also face this trend for new hires.
With these factors in mind, it makes sense to hire an apprentice. The distinct advantages of hiring an apprentice are clear. Employing an apprentice helps your business in several ways. According to Apprenticeships.gov.uk – What Are The Benefits of Hiring An Apprentice?:
- 86% of employers said apprenticeships helped them develop skills relevant to their organisation
- 78% of employers said apprenticeships helped them improve productivity
- 74% of employers said apprenticeships helped them improve the quality of their product or service 1
A Business Owner Who Is Gaining
I am always curious to know what motivates business owners besides turning a profit. From my experience, the bottom line appears to be the overriding factor for many. So, when I meet someone who runs a profitable business while maintaining a family atmosphere, I am intrigued.
This week I sat down with serial startup meister Duncan Price. Duncan is the formidable force behind Mug Monster – a trendy supplier of custom mugs of all varieties, shapes and sizes!
Why Would You Hire An Apprentice?
My main question for Duncan was why he hired an apprentice. When I put the question to him, his answer was succinct, “We are doing well at Mug Monster, especially with the surge of online sales during the pandemic, so we needed a little extra help. Hiring a fully-fledged designer was overkill in many respects. We required someone who could do the work and not be afraid to take on various challenges. Essentially we felt that we could kill two birds with one stone; we could cut our wage bill and hire someone who had enough experience to fill the position but who also would benefit from gaining additional work experience. It is a clear win/win!”
How Did You Find Help To Hire An Apprentice?
Duncan approached LearnPlay Foundation to help him source an apprentice for Mug Monster. Previously he had worked with other apprentice providers and received service ranging from excellent to average. When I asked where he felt LearnPlay Foundation ranked, he smiled and said, “I recommend LearnPlay Foundation to everyone I know who needs an apprentice! I regularly give LearnPlay Foundation referrals and testimonials. LearnPlay Foundation made the process easy, Alina, in particular, was very efficient! LearnPlay Foundation helped us by sourcing and sifting through C.V’s until they found our ideal match. Their help has been invaluable.”
What Are The Benefits To A Business Wanting To Hire An Apprentice?
As evidenced in the above statistics and Duncans’ positive experience, there are numerous benefits to hiring an apprentice. Hiring an apprentice helps develop skills in your organisation and improves productivity and the quality of the organisation’s offering. For organisations who wish to fulfil their Corporate Social Responsibility taking on an apprentice(s) makes complete sense.
Furthermore, Government funding is available for organisations that take on an apprentice. With all this in mind, it stands to reason that taking on an apprentice is cost-effective and helps someone build a better and brighter future.
On A Personal Note
Not everyone can tackle a degree for various reasons. Numerous talented people exist in the job market who are desirous to realise their potential – an apprenticeship goes a long way to helping them achieve an otherwise elusive dream.
How To Go About Hiring An Apprentice
LearnPlay Foundation will walk you through the process step by step. Should you be in the process of considering options to implement within your business and taking on an apprentice is a viable solution, contact us at LearnPlay Foundation. We would love to speak with you!