The 5% Club’s Post

Sharing is Caring: Maximising Apprenticeship Opportunities At the heart of building a skilled workforce is the effective use of apprenticeship levy funding. All UK organisations with a payroll exceeding £3 million contribute 0.5% of their annual pay bill to this fund, dedicated to apprenticeship training. This year, it’s estimated that £3.7 billion will be raised, showcasing the significant investment in developing new talent. Unused levy funds are returned to HM Treasury if not spent within 24 months. To ensure this funding benefits as many people as possible, since April 2019, levy-paying employers have had the opportunity to transfer up to 25% of their annual funds to other organisations. Starting from 1 April 2024, this transfer limit has been increased to 50%, accompanied by an additional £60 million in government funding. This initiative allows organisations to share their resources, ensuring that more funds are effectively used for apprenticeship training. By collaborating and supporting each other, we can create new apprenticeship opportunities, fostering growth and development across various industries in South Essex and beyond. South Essex Advanced Technical Skills (SEATS) exemplifies this approach, playing a pivotal role in building a stronger, more skilled workforce in South Essex. Together, we can make a significant impact. Let’s harness the power of sharing to build a brighter future for apprenticeships in the South Essex and beyond. Questions? Get in touch ClaireHickeyem@seatshub.org #Apprenticeships #WorkforceDevelopment #SkillBuilding #TalentPool #CareerDevelopment #SharingIsCaring #SouthEssex #SEATS #BuildingTomorrowsWorkforceToday

📣 News for Employers and Apprenticeships! As of April 1st, 2024, the government is making significant changes to support non-levy paying employers and apprentices alike. Here's what you need to know: ➡️Removal of Apprenticeship Co-investment: Non-levy paying employers, listen up! The government will now fully fund all apprenticeship training and assessment costs for apprentices aged 16-21. That means no more co-investment required. Take advantage of this opportunity to invest in the future workforce. ➡️Raising of the Apprenticeship Levy Transfer Rate: Calling all levy-paying employers! As of April 1st, 2024, you can now transfer up to 50% of your unspent levy funding. This means more flexibility in how you utilise your apprenticeship funds. Whether it's supporting other employers in your supply chain or collaborating with local businesses, you have the power to make a difference. 🤝 How can Skill Up Somerset help? Our goal is to ensure these funds benefit local employers, we will facilitate discussions and support you through the process. Contact us @Hello@Skillupsomerset.co.uk to learn more about how we can work together to strengthen our local workforce. #Apprenticeships #Skills #EmployerSupport #SkillUpSomerset #Funding #GovernmentUpdate

The Popularity of Registered Apprenticeships is Growing… and so is federal funding. On March 1, 2024 the U.S. Department of Labor has announced the availability of nearly $200 million in grants to bolster Registered Apprenticeships, fostering public-private partnerships aimed at expanding, diversifying, and strengthening apprenticeship opportunities. This funding opportunity includes $95 million in competitive grants through the second round of the Apprenticeship Building America Grant Program, as well as $100 million in the second round of State Apprenticeship Expansion Formula Grants. For employers, these grants present an opportunity to not only invest in the development of their workforce but also to leverage state and federal support in doing so. By participating in Registered Apprenticeship programs, businesses can access funding to offset training costs and ensure a skilled and sustainable workforce for the future. As we navigate the evolving landscape of education and employment, apprenticeships stand out as a win-win solution for both individuals and employers. Let's seize the opportunities ahead and continue to champion apprenticeship programs as integral components of our workforce development strategy. More details and links to resources here: https://lnkd.in/gXy4264E #Apprenticeships #WorkforceDevelopment #SkillsTraining #EmploymentOpportunities #USDepartmentofLabor #Grants #RegisteredApprenticeships

The annual celebration of #NationalApprenticeshipWeek begins today, with the theme of “Skills for Life” aiming to showcase the “value and opportunity” of apprenticeships for communities, local businesses, and the wider economy!    #NAW2024 will highlight how apprenticeships can help individuals to develop the skills and knowledge required to succeed as roles become increasingly available in new and innovative industries.     Recent Policy Connect reports on #UpskillingIndustry and #HigherTechnicalQualifications have both considered how apprenticeships and wider technical education can contribute to skilling Britain’s workforce for success in the 21st century economy.     With an ongoing inquiry into England’s skills system, Policy Connect and #Skills2030 will continue to examine proposals to reform the Apprenticeship Levy, careers guidance, and local and national skills coordination.     More information about #NAW2024 is available here: https://lnkd.in/e6XxEpCx    Read #UpskillingIndustry here: https://lnkd.in/e8jjbD_f    Read #HigherTechnicalQualifications here: https://lnkd.in/dcH2Ny_q 

Latest from FE News: AELP: Autumn Budget skills investment could lead to over half a million apprenticeship starts per year: AELP has today published its Autumn Budget consultation submission – estimating that government investment in skills could lead to over 500,000 high-quality apprenticeships per year… AELP: Autumn Budget skills investment could lead to over half a million apprenticeship starts per year was published on FE News by AELP #EmployabilityNewsCareerGuidanceAdvice Read more here:

What do you need to know about the Apprenticeship Levy? It's currently not fulfilling its potential. In the public sector, for example, £1 in every £4 is returned to the funding pot for apprenticeships by employers. This represents £300m out of £1.2b of unspent funds - or 30,000 apprentices. Why are employers struggling? Economic conditions are of course challenging, but even in areas where most apprentices are needed (e.g. in social care), employers are raising concerns about lack of guidance and knowledge about accessing funding. What part can awarding and assessment bodies play? Focus on what they do best: improving the quality of apprenticeship delivery. When just under half of apprentices are leaving their courses, employers need reassurance that their new recruits will stick with the course - and represent a good investment. The debate goes far deeper, but if we improve apprentice outcomes, we send a signal to employers that apprentices have the power to transform their businesses. Learn more in FE Week here ➡️https://lnkd.in/dxkut4sq #skilltechsolutions #apprenticeshiplevy #levy #apprentices #aprenticeships

Consultation open: Modification of The Specification of Apprenticeship Standards for Wales (SASW). @WelshGovernment want your views on the making of modifications to the SASW, to improve the quality of apprenticeships framework development and delivery to better meet apprentice and employer needs in Wales. The modifications will enable SASW to be more flexible and responsive to the changing needs of industry and employers within a rapidly-changing skills environment. The modifications are: • Proxies • Essential skill adjustments for persons with ALN • Degree and professional apprenticeships • An increase in the minimum qualification credits https://lnkd.in/djjtHMXj

Today marks big changes in the apprenticeship world. From today the British Government is taking action to increase the uptake of apprenticeships following a decline in annual starts. In March the prime minister announced several key changes to Apprenticeship Funding that "Will unlock a tidal wave of opportunity and make a real difference to businesses and entrepreneurs across the country." 20,000 more apprenticeship opportunities are set to be made, but how will they do this? For new apprenticeship starts from the 1st April 2024, where an employer does not pay the levy, government will fund all the apprenticeship training costs (up to the funding band maximum) for those apprentices aged between 16 and 21 years old. This movement aims to relieve the financial burden when taking on apprentices, with the hope that more SMEs will increase their apprenticeship uptake. There are changes for larger organisations as well. The levy transfer is set to increase from 25% to 50%. This enables companies who pay into the Levy, to utilise their Levy more effectively by offering more of their pot to smaller companies and can augment companies Corporate Social Responsibility (CSR). In addition, The Department for Education will increase its apprenticeships budget by an extra £60 million. The primary aim of this Government initiative is to facilitate companies in hiring more apprentices, therefore creating more apprenticeship opportunities for younger generations and empowering SMEs to hire the skilled employees they need. “Apprenticeships are a fantastic way for businesses to develop the skills they need, and these new measures will help more businesses and young people benefit from them.” - Gillian Keegan 20,000 more apprenticeship opportunities, will this be the case? Watch this space... #Apprenticeships #Levy #SMEs #Opportunities

⭐️ This is great news for employers that are not currently paying the apprenticeship levy ⭐️ It should make it easier for SMEs to access apprenticeship training either becuase they will no longer need to find the money to top up or because the levy transfer creates more opportunities to access funding. Hopefully this will mean that all apprenticeship levy money is spent, rather than being returned to the Treasury, allowing more people (of any age and in almost any profession!!) to become trained in the skills their employer needs. #apprentice #apprenticeship #liverpool #SME #entrepreneurs #training #skills #education #LifeLongLearning #funding #degreeapprenticeships Liverpool Business School Dr Track Dinning Adam Shore Tim Nichol Victoria McCall SFHEA Dr Fiona Armstrong-Gibbs Julie Marshall Paul McEvoy Clarke FCIPD Jane Eme-Power (FCIPD) ✅ Interested in what an apprenticehip can offer you the, check out the range of apprenticeships on offer Liverpool John Moores University https://lnkd.in/eKb273QE

Apprenticeship reforms: CIPD welcomes newly announced government plans 👷♂️ The changes will also see employers allowed access to more flexible types of training using their funding, including new foundation apprenticeships for those not ready to start levels 2 or 3, and shorter apprenticeships that last less than the current 12-month minimum. Speaking to People Management magazine, Lizzie Crowley, senior skills policy adviser, CIPD highlights that, to “rebalance” the apprenticeships system towards young people, the government “will be seeking employers to co-invest in higher-level apprenticeships for already skilled and experienced employees”. “This will hopefully reduce the burden of expensive rebadging of existing training as apprenticeships and free up resources to invest in young people – those who see the most benefit from apprenticeships,” she said. Read more: https://ow.ly/7b0950TwZu9. #apprenticeships #apprenticeshipreform