How Do Apprenticeships Drive Business Growth?
There is no such thing as a free lunch, or so the saying goes – but apprenticeships certainly represent outstanding value to employers who want to recruit new talent and/or upskill their workforce. These development programmes are built around the realities of the workplace, helping learners develop the skills and knowledge they need for the job they are doing today, all the while helping them to achieve their career aspirations. And the beauty is that the funding available for small, medium and large sized organisations allows apprenticeships to be either pre-funded by the apprenticeship levy, that any employer with a payroll in excess of £3m a year has already paid, or for businesses with a smaller payroll, the up front cost is capped at 5% of the total negotiated fee with the training provider, so either way it is still excellent value for money compared to the commercial cost of outsourced, traditional training programmes.
Of course there are other costs to be factored into the programme, the operational impact of time away from the job for study (a minimum of 6 hours per week on average per apprentice), management and mentorship time supporting learners through their apprenticeship and the time needed to successfully navigate the inevitable compliance requirements imposed by the Department for Education (although a good training provider will help with this via automation and online systems). The real benefit of apprenticeships is to be found in more highly skilled, motivated, successful team members who feel valued and invested in, which leads to improved performance, reduced attrition, and stronger succession planning. Perhaps not the proverbial free lunch, but definitely a recipe for individual and corporate success.
The Institute of Sales Professionals is the leading End Point Assessment Organisation for sales apprenticeships at level 4 and works with approved training providers to deliver, assess and award apprenticeships to learners from a wide range of business sectors. Apprentices range from new entrants to the sales profession, to learners who are looking to develop substantive new skills whilst building on the skills and knowledge they have already gained in the workplace.
Apprentices studying for the Level 4 Sales Executive Apprenticeship, regardless of their training provider or end point assessment organisation, are entitled to complimentary membership of the ISP for the duration of their studies and this, together with the opportunity to also study for an ISP Ofqual regulated Diploma which is fully mapped to the knowledge, skills and behaviours of the apprenticeship standard, offer a fabulous development package to those looking to build a career in sales.
With the business landscape still an extremely challenging one, the need for businesses to increase revenue through profitable and sustainable revenue growth means that there has never been a better time to invest in professional selling.