Are you getting the most out of your Levy? Are you confident that you are maximising your staff development? Are you getting as much out of education as you could be?
At Yeovil College we believe we have a unique way of tailoring our programme delivery to ensure learners leave with valuable industry experience, which is clearly turned into tangible results in the work place.
All business with a payroll of more than £3m will have to pay HMRC a monthly levy contribution at 0.5% of their payroll bill. There’s been lots of talk about Levy but not so much about the Apprenticeship reform and we think the opportunities for businesses to reskill and develop their workforce at very low cost are being hugely overlooked.
Did you know that most new apprenticeships recently developed are Higher and Degree Apprenticeships, meaning that you could use your levy to fund an existing and valued member of your team through a degree. And if you’re not a levy payer, the Education & Skills Funding Agency will fund 95% of the training cost, you will simply be required to fund the remaining 5% as the employer.
Investing just a couple of hours in a detailed conversation with a well-informed College, like Yeovil College, could easily be worth £1,000’s of pounds to any business but it’s not just about the money. The research conducted over decades has proven that the return on investment from workforce training, particularly apprentices is tangible, delivering greater productivity, a culturally aligned workforce, greater loyalty and discretionary effort from staff and many more financially valuable benefits to the organisation.
Mark Bolton, CEO & Principal, said: “Not all colleges and providers have the same approach as Yeovil College, and I would encourage any business to invest time in a phone call or face to face meeting to see which fits best with their business. I know that Yeovil College and colleagues at other colleges have worked incredibly hard to understand and respond to the Government’s changes. Yeovil College has thought about the changes from the perspective of our business partners and developed a collaborative way of working to maximise the benefit of the changes to our customers. If you’re not 100% clear about what it means for your company, spend 30 minutes on the telephone and start making a plan; a good training partner will do most of the hard work for you.”