HR strategies to make hiring rewarding in 2023: Part 2

Part one of this two part series provided a comprehensive coverage on how the choices made during the recruitment process can significantly impact a business’s success and provided a list of strategies that can be implemented by HR leaders.

This part provides an in-depth analysis of the various benefits of apprenticeships programs and why Apprenticeship Programs will be the real game-changer in 2023.

How Apprenticeship can Emerge as a Successful Hiring Strategy?

An apprenticeship combines on-the-job training and classroom education that allows learners to get real-world experience while studying a skilled trade or profession. Apprentices in this program work alongside seasoned professionals, gaining hands-on information and refining their skill set under the supervision of masters in their industry. As a result, apprentices emerge as highly trained professionals, ready to face the difficulties of their chosen field, thanks to a combination of practical instruction and academic understanding. It's a tried-and-true method of skill development that combines on-the-job training with classroom education to create well-rounded, informed, and highly talented workers.

Apprenticeships provide several advantages for both people and companies. It allows individuals to learn a trade or skill from experienced experts, receive a wage while obtaining real-world experience, and acquire certificates and credentials. It also provides a defined career path and the ability to network professionally. Apprenticeships offer organizations a consistent flow of talented workers, the opportunity to train people to fit specific needs, and a cost-effective means to recruit and retain top talent. Over the years, the number of apprenticeship opportunities in Germany, the USA, Switzerland and Australia has increased, with more than half a million opportunities available for 100s of occupations across various business sectors in each country. Additionally, apprenticeships fill skill shortages in the workforce. They can and have been boosting the efficiency of companies. Some of the recent data to support the same have been discussed.

The National Apprenticeship Service website reveals that 90% of apprentices remain with the company after the program and offer over 1,500 job roles in over 170 industries. In addition, 96% of the companies that provide apprenticeships have noticed that these programs benefit their organisations, and around 72% of firms have reported enhanced productivity as an outcome of delivering an apprentice program.?

The Apprenticeship Linked Productivity Enhancement Model in the second edition of the ROI Whitepaper by TeamLease Degree Apprenticeship program makes a strong point about how degree apprenticeship can benefit an organisation. The following observations have been made -

• An apprenticeship program lasting for about six months has created a people supply chain, provided cost-efficient hiring, overcome skill shortages and reduced hiring time.
• Apprenticeship programs lasting between six to twelve months have improved retention by 10% and have provided real-time talent availability. These programs have also improved productivity & output quality and reducing business disruption.
• The outcomes of the program after two years improved retention by 25% and reduced hiring costs by 50%. In addition, it enhanced business productivity up to three times, and returns were obtained on learning investment.
• The results after thirty-six months of training were remarkable as it enhanced businesses and employee productivity. In addition, there was a control in the hiring cost and attrition of the company.

To summarize, apprenticeships are a highly effective company hiring method. They offer an organized and established technique for training and developing skilled individuals and various advantages to both the employer and the apprentice, supporting the words of Chet Atkins, an American musician, "A long apprenticeship is the most logical way to success. The only alternative is overnight stardom, but I can't give you a formula for that". Furthermore, apprenticeships attract and retain top people by providing real-world experience and earning possibilities, and they can help address skills gaps in the workforce. As a result, firms that use apprenticeships as part of their recruiting strategy will profit from highly skilled and motivated staff while remaining competitive in their respective sectors.