Apprenticeships and Degree based apprenticeship programs are the way forward as India strives to leverage its demographic divide and race ahead in the world of work and economic prosperity.
Training and hiring apprentices will help address issues such as employability and skill shortage and enable the youth to begin their professional journeys in areas of interest where they would like to grow and excel. It will create a win-win scenario for both employers as well as employees.
1. Secure the best new talent: With an apprenticeship program, you can catch them early and train them as per the needs of the organization. This new talent with a fire in their belly is an asset to any organization. Moreover, research indicates that these apprentices are much more motivated to learn and grow with the organization. Also, since apprentices have a firm grasp on the ethos of the company they are a strong asset when it comes to new product development (NPD).
2. Groom custom skills suited to the industry: 86% of employers said apprenticeship helped them develop skills relevant to their organization which had a far-reaching influence on the throughput and adherence to quality standards. Apprenticeship programs thus ensure higher productivity and better value resulting from the enthusiasm that the young talent will bring to the table.
3. Develop a long-term relationship with employees: Most employees seek to be at a place where they are paid well, valued for their services, and see the potential for future learning and growth. An apprenticeship program can deliver on all these fronts and thus ensures a mutually beneficial long-term relationship.
4. Deliver seamless customer experience: One of the biggest benefits of retaining employees for the long term is that they are always on top of customer profiles and aware of the latest developments within the ecosystem. Customers feel a substantial amount of comfort when they have to deal with an organization that knows them well for it mitigates the need for perpetually bringing them up to speed and setting expectations.
5. Save Recruitment Costs: Recruitment is a cost and time-intensive process which involves a significant amount of uncertainty until the new joiner actually starts contributing to the company’s bottom line. An experienced professional and a fresher both require training and knowledge transfer to understand the work ethos and perform in the new environment.
6. Leverage Government Incentives and Support: National Apprenticeship Promotion Scheme (NAPS) as is evident by the name is designed to promote apprenticeship. This is a new scheme of the Government of India which was launched on 19th August 2016 to provide financial support to establishments undertaking apprenticeship training. NAPS can help establishments, (especially MSMEs) to engage apprentices by reimbursing 25% of their monthly stipend as per the Apprentices Act and Pay. The International Labor Organization (ILO) report on Apprenticeships recognizes apprenticeships as the key to tackling the three-pronged issue of unemployment, employability, and skill shortage, “in the context of a fast-changing world of work, the apprenticeship model is empowering both youth and older workers to acquire new skills, reskill and upskill throughout their working lives.” To conclude in the words of the renowned mountaineer, Doug Scott, “Nothing substitutes a large apprenticeship, a heap of experiences that converts into the base of intuition”.
The author is Chief Business Officer, TeamLease Degree Apprenticeship