As figures show apprenticeship increase, FSP urges businesses to hire apprentices

The FSP fully supports apprenticeships

The FSP fully supports apprenticeships

Following figures released by the National Apprenticeship Service (NAS) which revealed that 11 applications were made for every apprenticeship vacancy in the UK, The Financial Skills Partnership (FSP) has called for more businesses to take on apprentices.

The financial services industry has embraced vocational training on the whole, although the FSP says there is room for improvement.  The FSP has created six apprenticeship frameworks currently in practice covering a wide range of financial disciplines. Additionally, the FSP was given support from the Higher Apprenticeship Fund to create higher apprenticeship frameworks more focused on the needs of the employer.

Liz Field, CEO of Financial Skills Partnership, said: “These figures show that there has been a positive reaction from young people to vocational routes into jobs. For sectors such as finance that haven’t been seen as traditional apprenticeship-based industries, the work that has been carried out to create awareness of apprenticeships has shown progress. However, there is now an even bigger challenge to businesses to further embrace apprenticeships and roll them out in a way that better meets this increased demand. This does mean more apprenticeship places are needed and the focus should remain on quality of the apprenticeship offered by employers.”

“Higher apprenticeships have been one area that has shown significant growth and they have opened many doors for more young people that have struggled to find ways into work beside traditional university routes. We’re expecting that many more businesses will see the benefits of apprenticeships and as many firms will look to fuel the next chapter of growth, these enthusiastic young people who are bright, keen to learn and can be moulded into a company culture will be an ideal way to do this.”