What the best corporates do to maximise their Levy
By James Kelly
Inertia surrounding integrating the Apprenticeship Levy into corporate L&D strategy has resulted in 45% of companies still not utilising their Levy (Grant Thornton 2019). In 2019, £3bn in apprenticeship levy funding in England dedicated to training and developing employees at all levels is currently sitting unused (ESFA 2019). With a simple strategic approach and intent, large corporates can easily use these funds to the benefit of their organisation.
In 2017 the Apprenticeship Levy fitted into many HR Directors’ category of ‘important but not urgent’. Yes, it might be a couple of million pounds a year, but the CFO had already written it off, there were more important things going on and the organisation didn’t quite understand the Levy anyway. In 2020, things are different.
Adopters of the Apprenticeship Levy are now training teams of data analysts, filling recruitment gaps for software engineers and DevOps professionals, developing managers and leaders, reducing National Insurance payments and improving recruitment, retention and employee satisfaction levels by effectively using their Levy. They are securing competitive advantage in doing so.
This report highlights how to generate maximum business benefit when integrating the Apprenticeship Levy into an L&D strategy. We reveal four examples of strategic best practice we see from large corporates in their approach to utilising the Apprenticeship Levy.