As many of you know, I am passionate about skills training, personal development, giving young people the right tools and of course apprenticeships.
That’s why I want business owners who are thinking about investing in the apprenticeship levy scheme, or are already in the scheme, to get the most out of their investment. That’s where it pays dividends to know more about it and learn how you can use it to transform your employees and your business in England.
The apprenticeship levy was introduced by the Government in April 2017 to help companies offer more apprenticeships. It also puts apprenticeship funding in the hands of employers, enabling them to:
- Invest in and create apprenticeships
- Recoup some of the costs of providing training to their apprentices
How does it work?
Employers with a payroll of more than £3m pay a 0.5% levy on their total payroll, which is offset by a £15,000 government allowance. The levy is paid monthly, and contributions appear in a digital account, which can be used by the employer to arrange and pay for apprenticeship training.
The levy is there to fund apprenticeship training for all employers. Any unspent levy funds are used to support existing apprentices to complete their training and to pay for apprenticeship training for smaller employers.
What do I do?
All you need to do is agree a training programme, price and provider and then the provider will be paid out of your digital account every month. The monies can only be used for apprenticeships training and Endpoint Assessment but cannot be used to pay apprentice wages. After 24 months any unused levy funds expire and return to the government.
And if you are a non-levy paying employer (a smaller employer), you can still benefit. Simple pay 5% of the apprenticeship course cost, and the government will cover the remaining 95% through the process of ‘co-investment’.
The apprenticeship levy has transformed apprenticeships in England. They have improved essential training and enabled business to develop comprehensive apprenticeship programmes, which have helped them to hold on to their talent, increase employee engagement and boost productivity.
But I have heard that some companies are just not spending it. That’s where I can help. Not only can I work with you to ensure you understand how it works, but also come up with ideas for how you can get more out of it.
Train/retrain you existing workforce
Not only do I have the facility to offer Level 3, Level 5 and Level 7 training to upskill team leaders to senior managers, but the levy also offers an incredible variety of advanced managerial and technical professional skill training courses. This means you can train or retrain your existing workforce too. Please get in touch if you need advice, help or support about the apprenticeship levy and how to access the right training for your staff.