Here are a range of questions and answers regarding the ROI Calculator.
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The ROI Calculator is an easy-to-use tool designed to help you understand the potential returns you could gain from investing in Apprenticeships.
There are lots of complexities involved in the calculation for your specific situation, and there is also a lot to bear in mind about managing the investment effectively.
For that reason, many employers find it better to get in touch with us at the National Apprenticeship Service (NAS) and discuss the investment opportunity offered by Apprenticeships in more depth.
You can contact the NAS on 08000 150 600 or by completing the online enquiry form.
The ROI Calculator is based on research and the experience of other employers so as to highlight the benefits employers in similar industries have gained. It is not able to identify specific costs for each employer.
As the ROI Calculator is based on the experiences of some specific employers explored in case studies their circumstances may be different to your own.
Your particular circumstances may involve different choices about the qualifications you want your apprentices to have, the time you want them to be learning, and the contribution they’ll be making in your workplace. All of these things can change the outcome. Hopefully, the ROI Calculator will provide you with the information needed to see how Apprenticeships can work for you.
The return on investment may not happen overnight, but if you play your part in recruiting the right apprentices, giving them the opportunity to learn and work, and by giving them the supervision and support to mature into valuable employees, you will see a wide range of benefits.
The ROI Calculator is based on research commissioned by the Apprenticeship Ambassador Network [link], a group of senior business leaders who have seen the benefits that Apprenticeships bring to their business, including increased productivity, greater staff retention, increased profitability and more highly motivated workforces.
The Net Benefit to Employer Investment in Apprenticeship Training (November 2008) was undertaken by the Warwick Institute for Employment Research. The research used case studies across six different sectors (Engineering, Hospitality, Business Administration, Social Care, Construction, and Retail) to evaluate the costs and benefits of Apprenticeship investment.