Boosting loyalty and reducing turnover
One of the measurable advantages of employee-owned businesses (EOBs) is the significantly lower employee turnover.
This stems from a deeper sense of commitment and loyalty among employee owners, setting them apart from employees in their non-EO counterparts.
In this context, apprenticeships serve as a uniquely valuable tool – one EOBs can leverage for success.
Join Seetec in celebrating National Apprenticeship Week from 10 to 16 February 2025.
A demonstration of long-term commitment
Apprenticeships visibly reflect a business’ dedication to employee development and succession planning.
By investing in apprenticeship programmes, EOBs showcase their commitment to fostering talent and building lasting relationships.
Actions speak louder than words
While many businesses claim to prioritise training and development, apprenticeships provide concrete evidence of this commitment in action.
They lead to nationally recognised qualifications, require a meaningful investment of time, and benefit both the business and its employees.
For the business, apprenticeships preserve and expand corporate knowledge by equipping employees with new skills.
Employees, meanwhile, benefit from a reinforced sense of value and alignment with the business’ long-term vision.
Value for money
Apprenticeships are a cost-effective way to utilise the Apprenticeship Levy, demonstrating to employee owners that these funds are being strategically invested rather than perceived as a tax.
On-the-job development
Apprenticeships combine hands-on experience with guidance from a trusted third-party provider.
Choosing a provider with sector expertise and shared values can ensure alignment with the organisation’s goals.
Employees benefit not only from mentoring by an external subject matter expert, but also from valuable industry insights and support that enhance their growth and capabilities.
Leveraging employee ownership
EOBs have a distinct advantage with a collective drive for success rooted in shared ownership.
Apprenticeships provide a practical and effective way to strengthen this ethos, nurturing talent, supporting organisational goals, and fostering innovation.
With National Apprenticeship Week just around the corner (10 – 16 Feb), there’s no better time to explore how these programmes can benefit EOBs.
Why employee-owned businesses need apprenticeships
Apprenticeships bring a unique set of benefits, enhancing the skills of existing teams while also attracting fresh talent.
For EOBs, these programmes align perfectly with values like collaboration, shared growth, and long-term investment in people.
1
Upskilling Your Team
Employee ownership thrives on collective responsibility and shared success. Apprenticeships contribute by:
- Developing Existing Staff: Apprenticeships are a great way to equip current employees with the skills needed to progress into more advanced roles while reinforcing their sense of belonging.
- Boosting Engagement and Retention: Employees who see clear opportunities for development are more likely to stay, and apprenticeships provide a clear path for career growth, boosting morale and loyalty.
2
Attracting Fresh Talent
Bringing new talent into an EOB is essential for sustained growth, and apprenticeships offer a compelling route:
- Apprenticeships appeal to a broad spectrum of people, from school leavers and career changers to those re-entering the workforce.
- With apprenticeships, businesses can shape incoming talent to align with their unique culture and values, ensuring a strong foundation for the future.
3
Embedding ownership culture
By providing apprenticeships, companies can cultivate employees who align with their values, culture, and work practices.
Next Steps
Are you an employee-owned business interested in apprenticeships? Join us for a unique webinar run by Seetec and the Employee Ownership Association on Wednesday, 12 February, 2025.
The webinar titled ‘The EO Advantage for Apprenticeship Success‘ will delve deeper into how apprenticeships can strengthen employee-owned businesses and provide practical advice to get started.
