Can The Apprenticeship Levy Be Used For Existing Employees?
As you can imagine, this is one of the most common questions large employers are asking about the Apprenticeship Levy – and with good reason. Chances are, as one of these employers, you’re paying quite a bit of your hard-earned money into the pot, and I’m sure you’ll be looking for a way to benefit from your contribution.
The Government introduced the Apprenticeship Levy to help reach their target of 3 million apprenticeships in England by 2020. This striving plan’s intention was to help lift employment rates, close the skills gap and boost the nation’s economy. This plan was ambitious, to say the least; however, they’ve found that many employers have decided to utilise their Levy funds to train existing, internal staff with apprenticeships instead. Using the fund to train their internal staff is allowing hard-working staff to progress and develop within these organisations, whilst also reducing staff turnover and increasing staff morale which all support the bottom line.
So, in answer to the question; can apprenticeship levy be used for existing employees?
Put simply, Yes. Absolutely.
And perhaps a more important question is;
How do I use the Apprenticeship Levy to train existing staff?
Get in touch to see how we can support you with your quest to close the skills gap.