As businesses face unique challenges, there has never been a greater need for professional upskilling and lifelong learning. Aware of this, Imperial College Business School and Corndel – the country’s leading provider of apprenticeship programmes – announced a partnership to deliver world-class executive courses, equipping participants with the know-how to succeed in an increasingly complex and digitally-oriented environment.
Funded by the Apprenticeship Levy – which was rolled out to support firms in offering apprenticeship programmes to workforces – this partnership offers a number of executive programmes, from leadership to healthcare to data analytics and enables apprentices to gain much-needed skills at pace. But how can businesses take advantage of partnerships like this?
It starts with eligibility
Which is based on an organisation having a payroll of at least £3m. Ensuring that your firm is eligible – and aware of its eligibility – to access the apprenticeship programmes afforded by the levy is critical. In 2019 alone, for example, while employers paid £2.8bn into the levy pot, they spent a mere £864m – an underspend of almost £2bn in just one year. Beyond understanding if and how your organisation is eligible to take advantage of the levy, ascertaining other logistical aspects – such as the time commitment required of staff taking part – is also a must. ‘T’s crossed and ‘I’s dotted, there are a few other things that firms looking to utilise the apprenticeship levy must consider:
Take a strategic approach to using Levy funds
Considering the amount of funds available, businesses would be wise to take a clear and strategic approach to leveraging that support. Typically, organisations that successfully utilise these funds invest in accountable individuals to develop and execute such strategies to ensure effective use. Understanding and outlining what your organisation hopes to achieve with this financial support is crucial to implementing an effective strategy.
Be bold in your approach to the Levy
It’s about ‘big picture’ thinking. Think big. Think bold. Think long-term. Don’t simply set goals that reflect the immediate needs of the business, but rather, give thought to the needs of the workforce in, say, three years’ time. After all, the purpose of upskilling isn’t simply to acquire the skills needed to meet the challenges of the day, but also to be ready for the tasks of tomorrow.
Integrate, join up & communicate
Whether from the realms of HR or L&D, leaders must utilise their positions to champion the role of these apprenticeships within the organisation. They need to make it their mission to broaden the understanding of what theses schemes can do for employees, as well as the company as a whole. And, in kind, it’s up to leadership to ensure that the strategy for Levy spending is integrated within the organisation’s other HR & L&D functions.
Seek buy-in across all levels of the business
Leaders can’t be the only ones championing the role and value of these programmes. It’ll take organisation-wide buy-in for initiatives like these to truly be effective and will demand active involvement and endorsement from an array of stakeholders. Integrating Levy-funded programme goals with corporate objectives will not only improve short-term traction, but also long-term impact.
Apprenticeship Levy-funded programmes have the potential to dramatically improve the effectiveness of employees within a business, offering firms the opportunity to bolster essential training and upskilling through specialised courses. And, courtesy of the fund, as more and more organisations look to utilise the array of apprenticeship programmes on offer, understanding how best to leverage the Levy will only become more important. If an organisation is eligible for the apprenticeship levy fund, they’d be stupid not to invest.
