IMI introduces Levy advice
In a bid to help the aftermarket tackle the skills crisis through greater use of apprentices, the Institute of the Motor Industry (IMI) is offering free advice to car dealers on how to make the most of the Apprenticeship Levy.
IMI research found that apprentices generate a return on investment of between 150% and 300%, and usually generate profit within 12 to 24 months.
However, the convoluted nature of the Levy has seen apprenticeships drop off a cliff since it was introduced.
Mark Armitage, the IMI’s head of external quality and assessment services, said, ‘The IMI is offering free expert advice to help organisations understand how they can invest their Levy or co-investment, using this to enhance the skillset amongst their business.’
In his annual Budget, Chancellor of the Exchequer Philip Hammond, announced a £95m increase to the Apprenticeship Levy, and an extra £90m of Government funding to enable employers to invest a quarter of their apprenticeship funds on people working for businesses in their supply chain.
Mark continued, ‘There is no question that apprentices deliver real value for businesses as a two year study undertaken by the IMI proved. The results found that apprentices typically generate an ROI between 150% and 300%, and usually generate profit within 12 to 24 months.
‘Home grown apprentice-trained technicians invariably outperform market-recruited technicians, and this can reduce long-term recruitment and training costs. Employers must build apprentices’ knowledge, skills and behaviours based on targets they want them to achieve, and this will help them to see higher completion rates and a higher number of apprentices retained in their business.’
Anyone who would like to access the expert advice on the Apprenticeship Levy should call 01992 511 521 or email firstname.lastname@example.org.