Rapid change will wait for no CTO
The tech landscape is constantly evolving. This requires a workforce that can utilise emerging technologies while and critically thinking about the application across a business, improving efficiencies and business decisions. For Chief Technology Officers (CTOs), the challenge lies in retaining a skilled workforce while simultaneously developing their team’s skills without breaking the bank.
Enter: The Apprenticeship Levy, an ace up every CTO’s sleeve
The Apprenticeship Levy was launched in 2017 by the UK government as a financial initiative to encourage employers invest in their development of the workforce. The Apprenticeship Levy, paid by companies with a pay bill exceeding £3 million, is an underutilised tool for facilitating successful tech skill growth.
Despite the powerful potential of the levy, £3.3 billion of unused apprenticeship levy funds returned to the Treasury since 2017 (UK Treasury). Unspent levy funding is lost to organisations, and it exists in a “use or lose it” situation. Employers have 24 months to spend the levy before it is given over to the HMRC. An unused levy is a missed opportunity, especially when it gives you the chance to get more from your business transformations.
For tech leaders, the Apprenticeship Levy presents a unique opportunity to upskill and reskill employees, especially in roles that demand advanced technical expertise. Many organisations view apprenticeships as programmes for entry-level positions or traditional industries, but they can be a powerful tool for addressing the critical skills gap in software engineering, cybersecurity, data analytics, and more.
Transformation requires collaboration
PwC’s latest CEO survey indicates 45% of leaders fear their companies may not last a decade without adaptation. For organisations to adapt and handle transformation, there must cross-collaborative efforts across internal departments. This will require CTO’s and HR and L&D leaders to work together to best maximise the Apprenticeship Levy. By strategically using these funds, organisations can address tech skill shortages ensuring the right skills are embedded in the correct areas of the business to have the greatest impact on organisational growth. When key areas for development are identified within an organisation, such as DevOps, Software Engineering, Business Change Management, Data Engineering, AI Fundamentals, our experts develop pathways that can be integrate with on-the-job learning and structured skills development.
Similarly, for emerging technologies like AI, machine learning, or cloud computing, the Levy offers a way to build in-house expertise without the high costs associated with recruiting from a competitive market. CTOs can align training with their business’s transformation goals, embedding behaviour change across the organisation.
For more on how apprenticeships can transform your organisation, explore Corndel’s CTO Toolkit.
Unlocking tech talent with Chubb Fire and Security
“There are tech companies out there that will only take on university graduates – they’re missing out on such a massive pool of talented people. Everyone can be a developer.”
Chubb Fire and Security recognised the need to address its tech skills gap while ensuring long-term talent retention. We helped Chubb created a robust tech apprenticeship programme designed to develop both entry-level and advanced tech professionals. This initiative has led to improved retention rates and has equipped the company with the in-house talent necessary to meet changing business needs.
Developing future-ready tech skills
The Apprenticeship Levy is an opportunity for CTOs to build a highly skilled, motivated, and future-ready tech team. By strategically investing in apprenticeships, tech leaders can address skills shortages, foster innovation, and ensure their workforce is prepared for the future of work.