”Earn and Learn” describes a group of routes into and within employment which combine study with practical experience, so enabling individuals to gain the knowledge and skills required to pursue their chosen occupation.
For The 5% Club, earn and learn includes –
- Apprenticeships at all levels
- Formalised graduate training programmes
- Sponsored students
It does not include –
- Single instance/short-term training
- Work experience (freestanding or related to qualifications).
Why is Earn and Learn important
- Multi-level – accessible to all. Alternative to university for some graduate occupations, including reduced financial cost.
- Produce individuals with knowledge, experience and hand—on practical skills valued by employers.
- Routes to economic independence for individuals from challenging backgrounds.
- Significant Return on Investment for employers – employee effectiveness, motivation and retention.
- Significant Return on Investment to society as a whole – reducing cost of NEETs (individuals Not in Education, Employment or Training) and improving productivity.
Why hire an apprentice?
The following is an excerpt from a recent article in FE News by Chris Stoker-Jones, Director of Vocational Training at Catch22
Apprentices are, time and again, proving to be hugely valuable assets.
- Boosting productivity: Research shows each apprentice brings a gain in productivity of more than £10,000 per year for their employer, with figures for some sectors being even higher.
- Filling skills gaps: As the needs of the workplace evolve and the impact of Brexit becomes clear, there will be skills gaps to fill. Taking on apprentices can help fill those gaps.
- Competing in the modern marketplace: You can train apprentices in the skills that your business needs now and in the future. In industry research, 77% of employers agreed that taking on apprentices helped to make their organisations more competitive.
- Building staff loyalty: Staff typically feel loyal to employers who have invested in their training and are therefore more engaged and motivated to stay.
- Cost-effective training: Apprenticeships are particularly cost-effective as a form of training because, while employers pay apprentices’ wages, funding is available to cover many other training costs.
- Supporting social mobility: ‘Earn and learn’ training opportunities, such as apprenticeships, are key to helping people from disadvantaged backgrounds enter the workplace and progress into fulfilling careers.