Time is running out to use your apprenticeship levy funds

The apprenticeship levy was introduced over a year ago to help create three million new apprenticeships by 2020. However, recent statistics report that there is still more than £1 billion in the pot, some 90% left unused.

While many employers are still trying to decide how, and if to use their Levy funds, it is important to remember that time is of the essence as any funding that remains in a digital levy account after 24 months will expire.

So, if you have unspent levy funds, you have until April 2019 to use them.

Make the most of your levy spend

Apprenticeships offer businesses a new source of talent or a way of developing the skills of existing employees, from entry level to management. The benefits are significant; greater access to skilled workers, enhanced retention and attraction rates, and improved organisational performance and succession planning.

The apprenticeship levy is best used when it supports workforce planning on a strategic level. It’s an opportunity for businesses to identify skills gaps now and in the future, providing the best defence against a changing environment and offering real business benefits.

Review your training and recruitment requirements, identify which areas of your organisation could benefit from a skills boost and consider the ways apprenticeships could help fill those gaps.

Get ahead of the digital curve

With 76% of businesses across all industries claiming to have a digital skills shortage, and an in-balance between requirements and the talent pool available, this is one area that a number of businesses are focusing on to make the most of their apprenticeship levy funds.

With the speed at which technology develops and the ever-increasing role it plays in modern business, a large proportion of companies are being left behind without the skills and expertise required.

To combat this, a new suite of IT Apprenticeship Standards have been released that not only include a Digital Marketer qualification but also IT Infrastructure and IT Sales, which in their new format, can be easily adapted to support an employer’s business and practices.

Whether it is lead generation, customer acquisition or retention you need, or to build a better infrastructure, these Apprenticeship Standards can be used across a range of industries to up-skill a workforce.

Remit Group is a leading provider of IT apprenticeships and has a strong track record of supporting a wide range of businesses to implement programmes, which utilise their Levy funds to bring a range of benefits.

If you are still considering whether to invest your Levy pot, let us convince you why you should…

If you would like support in aligning your marketing strategy with your sales targets, get in touch: info@remit.co.uk

By |2018-09-10T04:49:15+00:00July 24th, 2018|Blog, Remit News|Comments Off on Time is running out to use your apprenticeship levy funds