According to recent data from the Department of Labor, about half a million workers are participating in apprenticeship programs in more than 1,000 different occupations. Has your organization ever considered one? In a time when skilled labor is at a premium, these initiatives are growing increasingly popular and valuable. Here are seven potential benefits of an apprenticeship program:
- Specific, thorough training. Apprentices receive customized training from experienced individuals. This results in the development of a highly-skilled worker who is trained to fulfill your organization’s distinctive needs.
- Greater productivity — from everyone. On-the-job learning from an assigned mentor combined with related technical instruction should eventually increase productivity companywide. This is, in part, because the program can incorporate cross-training so employees can more easily cover for each other.
- Stronger retention rates. Because their employers have invested in them, apprenticeship program graduates tend to return that investment through longer tenures and may even become mentors themselves.
- Reduced employment costs. Including safety training in the apprenticeship can reduce workers’ compensation costs and prevent prolonged absences because of injuries or illness. Mentors can teach apprentices how to work efficiently to avoid undue stress and time pressure.
- Lessened urgency to hire. Once it is up and running, an apprenticeship program provides a stable and predictable pipeline for the development of qualified workers. This will make your organization less dependent on the fickle employment market.
- Enhanced employer reputation. A participating company can gain a reputation as an employer that is willing to invest in its employees. So, while you will be less reliant on the want ads, you may have an easier time attracting job candidates when necessary.
- Best-in-class workforce. Successful apprenticeship programs offer a systematic approach to training that ensures employees have the ability to produce at the highest skill levels required for that occupation.
Interested? Let us help you assess the cost-effectiveness of setting up an apprenticeship program.