Employing apprentices can save a company up to 15% in labour costs, according to new research published by SummitSkills, the Sector Skills Council for the building services engineering sector
The report, Apprentice cost-benefit analysis, looked at the financial savings that can be made by employing apprentices and identifies cost benefits for large and small-scale projects.
The research clearly demonstrates that there are other benefits for employers such as having a highly skilled workforce.
Employing apprentices can save a company up to 15% in labour costs on large-scale projects.
The report also demonstrates cost savings on domestic, smaller-scale projects. In addition to the actual labour cost saving, it also calculated the displacement saving, where using an apprentice with the appropriate skills freed up the craftsman’s time to make the contract progress quicker.
Keith Marshall, chief executive of SummitSkills, said: “We have known for many years that apprentices can benefit businesses by providing opportunities to develop and grow skills. This report now adds a sound financial argument to the wealth of evidence in favour of employing apprentices.”
Electrical and Mechanical Contractor
For more on the SummitSkills report, visit the website on www.summitskills.org.uk