Automotive apprentices add massive value
1 min read
The Institute of the Motor Industry (IMI) has called on the automotive sector to overcome its doubts about employing young people and to future proof businesses by hiring apprentices.
The call to action comes on the back of new research by the IMI that reveals that, by the end of their third year, a well-recruited apprentice can generate between 150% and 300% return on investment, based on a £50 hourly charge out rate.
This means that for every £1 invested, the business nets between £1.50 and £3. Furthermore, apprentices who start with no experience typically generate profit within 18 to 24 months– much earlier than was previously assumed.
Steve Nash, the IMI's CEO, said: "Businesses must overcome their doubts about employing young people and invest in the future if our industry is to succeed as a whole. Overwhelmingly, the results from our recent study have shown that there is a clear financial return to the business within the apprenticeship, but the attitude and support of the employer to the apprentice is critically important.
"By giving a young person opportunities to apply their skills they will ultimately become better and more productive technicians much earlier than commonly perceived."
