Employing an Apprentice: 5 Benefits & Incentives
A lot of small businesses in the building and construction game are going through hard times. But did you know that hiring an apprentice could help get your business back on its feet and benefit in the future?
Let’s take a look at what your business has to gain from taking on apprenticeships.
Benefits of hiring an apprentice
1. Get affordable skills & labour
One of the benefits of hiring an apprentice is you get affordable skills and labor. You can pay an apprentice less than a fully trained employee.
We know what you’re thinking. An apprentice is only affordable for a couple of years, until they get fully qualified. After that, they cost just as much as a fully qualified employee.
Good point. But by the time your apprentice is trained up, your business will have grown and the apprentice will have grown with it. You’ll then be able to pay them more, and maybe even hire another apprentice!
2. Take advantage of incentives
You probably already know that the government offers incentives for employing an apprentice.
Employer incentives for apprentices are where the government pays for part of the apprentice’s wages in what’s called a “wage subsidy”. This makes it even cheaper to hire an apprentice.
There are a bunch of different wage subsidies available, like subsidies for hiring adult apprentices or apprentices with disability.
Since covid-19, the government announced that it would help small businesses keep, or rehire, their apprentices. If you’re eligible, the government is willing to pay half of your apprentices wages for 9 months, from 1 Jan to 30 Sep 2020.
This new wage subsidy adds up to be a cash handout of $21,000 per apprentice!
3. Mould newbies to your standards
As an experienced tradesperson and businessperson, you’ve built up your skills and knowledge over the years. Now it’s time to pass it on to the next generation.
Forget about hiring new recruits who are used to doing things in a different way. Instead, you can train your newbies to do the job exactly as you want them to.
While this is good for your business, it’s also good for the Australian economy. By passing on your skills and knowledge to future generations, you help the building sector grow and thrive.
4. Help the economy recover
Since Scott Morrison announced the government’s JobMaker scheme, we can look forward to restoring the economy and the creation of new jobs.
By employing an apprentice, your business can take advantage of the benefits of the JobMaker scheme. This aims to help workers and employers train their apprentices and get funding more easily.
5. Future proof your business
We’ve already seen how, by hiring an apprentice, you pass on “the tricks of the trade” to your new recruits. But guess what? Apprentices can also bring something to the table. One of the benefits of hiring an apprentice is that they breathe new life into your business.
Apprentices bring a fresh, innovative point of view which they gain from their training with their RTO. By introducing to your business the latest tools and techniques, apprentices keep your company up-to-date and in-the-know.
How it works
If you’ve never hired an apprentice before, the process may seem complicated. Don’t worry, Builders Academy Australia can help.
We work with employers like you all the time. We help you find the right apprentice to suit your needs, whether you want affordable skills or to grow your business.
We help employers access incentives and funding from state and federal governments to lower the cost of training and hiring new apprentices.
We also work with Group Training Organisations (GTOs), which help place apprentices with your business and take care of payments and admin. We work with GTOs to support and guide you and your apprentice while they complete their qualification.
Employing an apprentice
As an employer, your role is to give your apprentice practical experience while they learn. You’ll help them apply what they’re learning to your own workplace practices.
While employing an apprentice has many perks, it also means you have to pay attention to your apprentice’s progress through their training. The time they spend in training is also paid as work time.
You’ll need the time and resources to commit to hiring a new apprentice. If you’re willing to train and supervise a new recruit, then you’re ready to reap the benefits of hiring an apprentice.
Need help hiring an apprentice? Call us at 1300 LEGEND (1300 534 363) or request a callback today.