Jessica Tabinor Hinkley Point Project
Morson held a roundtable debate with HS2 and key representatives from the supply chain to discuss how we future-proof the rail industry in line with HS2’s skills, employment and education targets.
The Apprentice Levy was one of the key topics discussed:
There’s a clear commitment amongst the supply chain to develop new talent through the use of apprenticeships both at a lower and higher advanced level. In an industry where apprenticeships are already popular, the Levy is providing new opportunities to attract fresh talent and improve diversity.
The Apprenticeship Levy gives employers a great incentive to invest in new staff and skills but it is crucial that the training is tailored to individual business or project needs. Supply chain partners must assess the short-term and long-term skill needs within their existing workforce and identify the gaps. Building a strong partnership with a bespoke training provider will also ensure training is delivered to your exact skills needs, company values and culture.
Many of the organisations in attendance were either underusing their available Apprenticeship Levy funds or felt confused on how to best implement a bespoke skills development programme. Greater awareness is still needed on how Levy funds can be better spent and the effective use of transferring this to the supply chain to address specific skills shortages.
Critical to engaging your internal audience is highlighting how the levy can be used strategically, to develop your business through the training and development of new skills. Barriers faced with signing off on how best to use the apprenticeship levy for an organisation can be the potential costs associated with the apprentice – not just from a funding perspective, but also from the time and investment of managers within your organisation.
To combat this issue, it is important to demonstrate how an apprentice can add value to the business. Whilst the initial training and upskilling of an apprentice costs time and money, there is always a point where these costs will ‘break even’ and then surpass training expectations, generating a greater return on investment.
Identifying this break-even point and the life cost of an apprentice is a service offered by MVT, to assist in securing funding and levy allocation to new trainees. MVT can also design a tailored plan which looks at both the short-term requirements and the long-term strategic business plan of your organisation, to identify how you can get the most out of your levy pot.