Working in Partnership to Achieve Your Employee Goals
If your business or organisation has an annual wage bill of less than £3m then you do not pay the apprenticeship levy. Instead SME’s “co-fund” their Apprenticeship, paying just 5% towards the cost of training with the government contributing the remaining 95%.
The money can be spent on upskilling your existing workforce or bringing new talent into your organisation and there are additional financial incentives. The system is complicated but we can help you understand the options available and make sure you achieve the maximum returns on investment.
Asset Training is an independent training provider with a proven track record of offering employer-led Apprenticeships to SMEs. Our Training Facilitators have unrivalled knowledge and industry experience and will work in partnership with you to co-design and deliver a bespoke programme that aligns with your employee goals.
Currently we work with employers in sectors including Accountancy, Business administration, Cleaning & support, Customer service, IT User skills, Management, Manufacturing operations Sales & Telesales, Team leading, Trade business services, Warehouse & Storage and Learning and development.
There are a range of financial incentives available to make employing an Apprentice more attractive to SME’s. This includes an extra payment of £1,000 for recruiting a 16-18 year old. If you are a SME with less than 50 employees, then the government will meet the full cost for Apprentices aged 18 and under. For those over 19 they will pay 95% of the cost – the rest will be met by you.
Working in Partnership, We Will
Help you to upskill current staff in line with your business goals and you can use our recruitment service to bring in new talent to your organisation. We will help you to understand the changes to Apprenticeships and how they affect your business including the financial incentives available and how the co-investment works.
There is a range of visible business benefits associated with apprenticeships. These benefits can be enjoyed by companies in virtually every sector.
Apprenticeship schemes help to ensure that your business has precisely the skills it needs. No-one knows your business better than you do, and apprenticeships allow you to impart this knowledge to potential employees-meaning you end up with a workforce that is perfectly suited to the unique demands of your company.
You will need to pay at least the minimum wage, which is currently £3.90 per hour for apprentices. Remember the rate is reviewed every April. All apprentices are entitled to this rate if they’re aged under 19, or aged 19 or over and in the first year of their apprenticeship.
If your apprentice is aged 19 or over and has completed the first year of their apprenticeship, you’ll need to pay the correct minimum wage for their group.
If you are considering taking on an apprentice for the first time, it is vital that you are aware of your responsibilities. Broadly speaking apprentices are entitled to the same working rights as conventional employees.
An apprentice is an employee of your business and you must ensure that they receive at least the basic working rights. In practice this means that apprentices must, amongst other things:
• Be paid at least the National Minimum Wage.
• Receive at least 20 days’ paid holiday, in addition to bank holidays.
It is also important that you understand the nature of the apprenticeship training process. The training received by each apprentice should follow a framework, which is set by the National Apprenticeship Service.