In today’s competitive business landscape, staying ahead of the game requires a workforce that is armed with the latest knowledge and skills – one that can rapidly adjust to ever-changing market conditions. Finding the right talent, however, can quickly become an uphill battle (especially in the Financial Service and Insurance sectors).
Not only do you have to make sure that the people you bring in are the right fit, but you also have to make sure that they can hit the ground running and start contributing to your team’s success as soon as possible.
In recent years, apprenticeship programs have proven to be beneficial for businesses in search of such talent – and the good news is that flexi-job apprenticeships look set to add an extra dimension of efficiency and flexibility into the mix for both employers and apprentices alike.
What are flexi-job apprenticeships?
Flexi-job apprenticeships are a new type of apprenticeship that allows the learner to move from company to company while continuing to complete their apprenticeships. This is made possible through the use of apprenticeship agencies, such as Davies, which acts as the employer for the apprentice and assigns them to projects across various companies.
This offers learners an immense opportunity to accumulate diverse, broad-reaching skills and exposure to a range of different environments and business practices, whilst also allowing employers to benefit from the added flexibility that comes with having apprentices who can be assigned to specific projects for short-term periods.
How can these flexi-job apprenticeships help your business?
Reduced time-to-hire period
Often viewed as one of the business-critical HR metrics, time-to-hire (sometimes referred to as time-to-fill) is the length of time it takes for a company to fill an open position – from the moment the job ad is posted to when a new employee joins the team.
Unfortunately, given the current state of the UK job market, many companies are struggling to maintain a low time-to-hire period, thus leading to a significant drain on company resources. In fact, the average time to fill is 42 days (often considerably more in the Financial Services sector), which can be a huge burden on any firm.
Fortunately, flexi-job apprenticeships provide a great solution to this problem. Since these candidates can be enrolled on an ad-hoc basis, companies can ensure that key positions are filled quickly, without having to worry about the long-term commitment and paperwork associated with hiring a more permanent employee.
Reduction in time-to-hire (TTH)
TTH is an important metric when it comes to the success of any organisation, and flexi job apprenticeships can help to significantly reduce the amount of time needed to find and onboard new talent. Since the learner is already employed by an agency such as Davies, the recruitment process for hiring flexi apprentices is much more streamlined and efficient – allowing employers to focus their time and resources on other areas of the business.
Addressing organisational skills gaps
Having the right skills and expertise on hand is crucial to meet new challenges and opportunities. However, with workplace trends such as the Great Resignation leading to higher levels of attrition, businesses must now move faster than ever to fill in the gaps created by these sudden departures.
Flexi-job apprenticeships are an ideal way to address these skills gaps, as these apprentices can be quickly recruited and assigned to those areas of your business where their specific skills are most needed. Having flexible apprentice contracts gives companies the added freedom to quickly respond to changes in their operational needs, ensuring the continuity of operations while investing in a diverse talent pipeline for the future.
No permanent hire fee
Hiring a full-time employee can come with its own set of costs, such as training fees, recruitment agency charges and more. Similarly, traditional apprenticeship programmes require employers to provide guaranteed employment for at least a 12-month period (and pay for the entire period). This can add up and may not be suitable for those companies who are looking for short-term solutions or need a highly flexible workforce.
The new flexi-apprenticeship scheme will put an end to this problem. With zero permanent hire fees, companies will be able to recruit and assign apprentices to specific projects quickly and cost-effectively, without any long-term commitments.
They support businesses in all sectors to make a sustainable investment in the skills they need to achieve success while nourishing a culture of innovation and professional development across future talent pools.
Helping to overcome structural barriers
While most companies are able to see the benefits that apprenticeships can bring to their organisation, they are often hindered by structural barriers that can make it difficult to implement these programmes. As a result, many businesses opt for more traditional recruitment methods, which not only hampers their ability to invest in future talent but also incurs additional costs and delays in the hiring process.
Flexi-job apprenticeships provide a way around this problem. By providing an agile and cost-effective solution, they help businesses to overcome these structural barriers while also transitioning into an apprenticeship model in a way that is both manageable and cost-effective.
Davies is proud to be one of only a handful of providers offering the flexi-job apprenticeship scheme, enabling organisations of all sizes and backgrounds to take advantage of this new way of recruiting and training future talent.
If you would like more information on how Davies can help your business, please don’t hesitate to get in touch with us.