Grant Thornton UK LLP has unveiled new research for National Apprenticeship Week (6-12 February), which shows that employers in the East Midlands are increasingly looking to apprenticeships to attract diverse, talented young people to their business.
Every business leader in the East Midlands who responded to Grant Thornton’s latest Business Outlook Tracker survey said that they currently hire young people who have completed their A-Levels (or equivalent exams) into apprenticeship roles.
Over half (64%) of respondents said that they hire more school leavers in their business now than before the pandemic and 66% agree that hiring school leavers is as important to their business as hiring university graduates.
According to ONS data collected in February 2022, more than 9 in 10 (91%) university students in England were worried about the cost of living. Half (50%) felt they had financial difficulties and more than three-quarters (77%) of students were concerned that the rising cost of living may affect how well they do in their studies. For young people, these increasing financial burdens from self-funded higher education could explain the rising demand for paid apprenticeships.
East Midlands employers also see additional strategic benefits, with 78% of regional respondents to Grant Thornton’s survey agreeing that school leaver apprenticeships increase opportunity for people from lower socio-economic backgrounds within their business and 62% agreeing that school leavers perform just as well as graduates.
James Brown, partner and practice leader at Grant Thornton UK LLP, said: “Employers in the East Midlands are discovering the benefits of using apprenticeships as a development tool. These employers are strategically using apprenticeships to address issues such as improving diversity in the workforce, achieving sustainable recruitment, and replacing traditional graduate programs with highly desirable qualifications.
“Apprenticeships offer flexibility and the ability to tailor courses for specific development needs, making them particularly valuable to employers. These programs provide opportunities for training in high priority areas such as digital skills, finance, data analysis, and management, bringing new skills into the business that significantly benefit the organisation.
“At Grant Thornton, we are passionate advocates of apprenticeships as a valuable and effective route for young people to become trusted business and financial advisers. Apprenticeships promote social mobility in our communities and ensure a diverse and highly skilled talent pipeline for our firm, enabling us to provide top-quality service with teams that reflect the clients we serve.”
