You're wasting your Apprenticeship Levy!

The apprenticeship levy can be incredibly beneficial to businesses, boosting essential training and developing apprenticeship programmes as well as increasing employee engagement. So why are so many business wasting it?

The purpose of the levy is to support the development of apprenticeships and help employers to invest in their workforce. However, if not managed effectively, the apprenticeship levy can become a wasted expense for employers.

Here are some tips for avoiding wasting your apprenticeship levy:

• Develop a plan: Before you begin using your apprenticeship levy, it is important to have a clear plan in place. This will ensure that the funds are being used in a way that supports your business goals and contributes to the development of your workforce. Consider your workforce development needs, the skills you need to develop, and the types of apprenticeships that will best support your goals.
• Get the right training provider: It is important to work with a reputable and experienced training provider when using your apprenticeship levy. A good provider will help you to make the most of your funds and ensure that your apprentices receive high-quality training. Take the time to research different providers and compare their services to find the best match for your needs.
• Prioritize your spending: The apprenticeship levy can only be used to pay for apprenticeships, so it is important to prioritize your spending carefully. Make sure that you are investing in apprenticeships that will have the greatest impact on your business and workforce.
• Keep track of your spending: Keep track of your apprenticeship levy spending and make sure that you are using the funds effectively. Regularly review your spending to ensure that you are getting good value for money and that your apprentices are receiving the training they need.
• Engage your employees: Encourage your employees to get involved in the apprenticeship programme. This will help to build morale and foster a culture of learning and development within your organization.

In conclusion, the apprenticeship levy provides a valuable opportunity for employers to invest in their workforce and support their business goals. By developing a clear plan, working with the right training provider, prioritizing spending, keeping track of your spending, and engaging your employees, you can ensure that your apprenticeship levy is used effectively and provides real value for your business.

How can we help you maximise your levy?

As part of Loughborough University, we are proud partners of the Business School and work together with businesses to provide quality executive education in purpose-built training venues. Their Master of Science in Leadership program is designed to provide the knowledge and skills needed to become effective leaders in today's complex and rapidly changing world. Here are some of the benefits of this program:

• Multidisciplinary approach: The program is interdisciplinary, incorporating elements of management, psychology, and sociology, which provides a well-rounded education in leadership.
• Practical skills development: The program emphasises practical skills development, including teamwork, communication, problem-solving, and critical thinking, which are essential for success in any leadership role.
• Real-world experience: The program is designed to be delivered through a combination of lectures, seminars, case studies, and practical assignments, which allows people to apply their learning to real-world situations.
• Networking opportunities: Students have the opportunity to network with other leaders from a variety of sectors, which can provide valuable insights and connections for future careers.
• Access to Imago Venues' purpose-built training facilities
• International focus: The program has an international focus, exploring the challenges and opportunities of leading in a global context.
• Strong faculty: The program is delivered by experienced faculty members who are experts in their fields and bring a wealth of knowledge and practical experience to the program.
• Career prospects: Graduates of the program will be well-positioned to take on leadership roles in a variety of organisations, including public sector, private sector, and non-profit organizations.

In conclusion, the MSc in Leadership program at Loughborough University provides a comprehensive education in leadership, along with practical skills development, real-world experience, and valuable networking opportunities. These benefits can help people to succeed in their careers and make a positive impact in their organizations and communities.