Business Growth.
Business Growth.
In today's rapidly evolving digital landscape, businesses are facing an increasing demand for skilled tech professionals. However, there's a significant gap between the supply of qualified talent and the demand from industries reliant on technology. Apprenticeships offer a strategic solution to bridge this gap while fostering business growth.
1) Tech Skills Gap:
According to a report by the Department for Digital, Culture, Media & Sport (DCMS), there were an estimated 600,000 tech vacancies in the UK in 2020, highlighting the significant demand for tech skills across various industries.
2) Productivity and Innovation:
Research from the UK Commission for Employment and Skills (UKCES) suggests that businesses that offer apprenticeships are 37% more likely to be innovative, demonstrating the positive impact of apprenticeships on productivity and innovation within organisations.
3) Talent Shortages:
The UK's Digital Skills Crisis report by Barclays highlights that the shortage of digital skills costs the UK economy an estimated £63 billion a year in lost GDP. Apprenticeships can help address this shortage by providing a pathway for individuals to develop the necessary skills.
4) Future-Proofing the Workforce:
According to data from the National Apprenticeship Service, 86% of employers said apprenticeships helped them develop skills relevant to their organisation, demonstrating the effectiveness of apprenticeships in future-proofing the workforce.
5) Return on Investment:
Research from the Centre for Economics and Business Research (CEBR) indicates that for every £1 invested in apprenticeships, businesses receive an average of £26 back, showcasing the significant return on investment associated with apprenticeship programs.