Four in five companies with such schemes say they have reduced turnover rates. A further 88% say apprenticeships have led to a more motivated and satisfied workforce.
The independent study, conducted on behalf of the Learning and Skills Council, is released to coincide with the first annual Apprenticeship Week (25-29 February).
Results also show that more than two thirds of companies are better able to attract top talent due to the schemes, while 83% say they rely on them to fulfil their future skill needs.
“As a former apprentice myself, I’m delighted to launch the first annual Apprenticeship Week,” says Stephen Gardner, director of apprenticeships at the Learning and Skills Council. “These results confirm the significant benefits that employers achieve from apprenticeships, from increased competitiveness and overall productivity to improved staff retention and motivation.”
