5 Benefits of apprenticeships for small and medium enterprises (SMEs)

Have you realized that more and more SMEs are appreciating the benefits of apprenticeship training today? As you know, ever since the introduction of NAPS (National Apprenticeship Promotion Scheme), SMEs from all sectors are exploring the opportunity to build capacity by attracting young talent. Unlike past, employers have the freedom to design on-the-job training curricula based on specific requirements through “Optional Trades”. This has motivated more SMEs to provide training to candidates who aspire to undergo skill-based training. Also, financial incentive is one of the reasons that prompt employers to provide apprenticeship training to many candidates.

Register quickly to find the right candidates: https://apprenticeshipindia.org/

Now, here are five key benefits of apprenticeship for small and medium companies:

Filling the skills gap

If you are looking for skilled people who could meet the demands of the industry, apprenticeships can help you in a great way. Apprenticeship training help you to improve the skills of your apprentices in such a way that it will benefit your company in the long term.Your training will ensure that the skills developed by the apprentices are matched to the company’s future needs. As such, skills gaps can be filled and future managers and leaders can be sourced from within.

Staff loyalty and retention

Loyalty of the staff is an important factor when it comes to the success of business. Apprenticeships help you to create a trusted workforce which is highly motivated and committed to the company. Also, apprenticeship encourages people to think seriously about their career and stay with the company for a longer time. This way you can retain all the talented employees.

Financial support from the government

Government schemes allow you to receive financial support for the apprenticeship training. For example, in NAPS (National Apprenticeship Promotion Scheme), government shares the cost of basic training with Basic Training Providers (BTP), that is up to INR 7,500 for 3 months/ 500 hours. Also, it shares 25% of the prescribed stipend, subject to a maximum of INR 1,500 per month per apprentice.

Productivity and profits

You will not disagree with the fact that investing in apprenticeships has a positive effect on a company’s productivity. You will be able to create a talented workforce and strengthen your pipeline. Apprentices work hard to meet the company goals and bring in new perspectives. This will have a positive effect on your company’s profit as well.

Revitalization of the company

New apprentices bring a fresh approach into your company, which can have a positive effect on your existing staff. While undergoing on-the-job training, apprentices show their willingness to learn and bring new ideas into the company. Apprentices come from a range of backgrounds – including high-calibre candidates who do not want to spend huge money for a traditional degree. Instead, they aspire to get skilled and excel in their favourite profession.The creativity and talent of these candidates can bring fresh insight into your business activities and help you grow faster.

If you are willing to invest in people through apprenticeships you are showing a positive approach to the industry demands.As future workforce is heavily dependent on new insights and skills, it’s always beneficial for you to utilize the government’s apprenticeship schemes and increase the productivity of your organization.

Register quickly to find the right candidates: https://apprenticeshipindia.org/