A Business Case for Apprentices

Apprenticeships are nice and they help people. But in order to get buy in and funding we need a business case. Here are some thoughts on making that case.

1. Diversity of thought is an advantage?
2. Run a try before you buy apprenticeship program, thus reducing risk
3. Apprentices who are hired will stay longer, thus reducing the costs of churn.
4. You can get tax credits and government funding.

Diversity of thought is an advantage?

Diversity in the C-Suite leads to more profitability. If it works in the C-Suite, why not in the rest of the company?

Going from having no women in corporate leadership (the CEO, the board, and other C-suite positions) to a 30% female share is associated with a one-percentage-point increase in net margin?—?which translates to a 15% increase in profitability for a typical firm (Harvard Business Review)(1)

Another study conducted by S&P Global found that in the two years following their appointment, “female CEOs saw a 20% increase in stock price momentum.” Additionally, companies with more gender diversity on their executive board were more profitable than those without (2)

By providing people from different socioeconomic, cultural, and life experience backgrounds, you have more diversity of thought and potentially more people who are like our customer.

I’ll post more on items 2-4 later. For now, I’d appreciate your feedback.

References:

(1) Businesses with women in the C-suite are more profitable - Harvard Business Review

(2) When Women Lead, Firms Win - S&P Global