New tool from IMI lets managers calculate profit per apprentice

A new apprentice return on investment (ROI) calculator has been launched by the Institute of the Motor Industry which will help employers and training providers make a strong business case for hiring an apprentice.

To use the calculator, managers need only enter in a few details from their business and the app instantly tells them how much profit they could generate from each apprentice.

IMI CEO Steve Nash said: “Automotive employers must overcome doubts about the financial costs of employing young people if we are to secure a successful future for our sector.

“IMI’s recent ROI research broke the myth that apprentices cost firms money and overwhelmingly demonstrated that there is a clear and significant financial return. The new calculator allows us to take our research into a business and demonstrate exactly how this relates to their unique situation.

“Apprenticeships are currently a hot topic within government, with parties competing to develop viable alternatives to university. The motor industry is in a unique position to benefit from any positive developments.

“We must not miss the opportunity to draw high quality candidates into automotive careers because of myths about employing young people.”

Click here to access the app.