What is the Apprenticeship Levy?
As you, the HR Director
The Levy gives you the chance to create your own workforce, tailored to your businesses’ needs. You will have the opportunity to not just recruit new hires into the organisation through apprenticeship and graduate schemes but to also upskill your existing employees.
As you, the Finance Director
You have the opportunity to turn this cost into a benefit. The Levy does not just need to be a tax paid with no returns. Work closely with you HR and Learning & Development team to find out how you can neutralise the cost, or better, incorporate it into your people management strategy.
To overcome the key challenges ahead of you, start considering the following:
To overcome the key challenges ahead of you, start considering the :
All business that pay the levy will be able to access their contribution through an online digital apprenticeship service account and use it to pay for apprenticeship training by approved providers. The government will top up an employer’s fund by 10% and the employer has 18 months in which to use or lose the funding. Many SMEs will be unaffected as their pay bills fall below the threshold. A recent CIPD policy report suggests that a proportion of all apprenticeship levy funds should be allocated to Local Enterprise Partnerships/Business Growth Hubs to enable them to better support SMEs to invest in apprenticeships.
What can employers do to prepare?
You can read more about the Apprenticeship Levy on the Gov.uk website by clicking here.