Grant Thornton UK LLP has unveiled new research for National Apprenticeship Week (6-12 February), which shows that Welsh employers are increasingly looking to apprenticeships to attract diverse, talented young people to their business.
Every Welsh business leader who responded to Grant Thornton’s latest Business Outlook Tracker* survey said that they currently hire young people who have completed their A-Levels (or equivalent exams) into apprenticeship roles.
Almost two thirds (64%) of respondents said that they hire more school leavers in their business now than before the pandemic and 72% agree that hiring school leavers is as important to their business as hiring university graduates.
According to an NUS Wales survey, 96% of university students are cutting back on spending, with almost a third being left with just £50 a month after paying rent and bills. For young people, the increasing financial burdens from self-funded higher education could explain the rising demand for paid apprenticeships.
Welsh employers also see additional strategic benefits, with 60% of regional respondents to Grant Thornton’s survey agreeing that school leaver apprenticeships increase opportunity for people from lower socio-economic backgrounds within their business and 74% agreeing that school leavers perform just as well as graduates.
Alistair Wardell, partner at Grant Thornton UK LLP and head of its restructuring team in the South of England and Wales, said: “Employers in Wales are discovering the benefits of using apprenticeships as a development tool. These employers are strategically using apprenticeships to address issues such as improving diversity in the workforce, achieving sustainable recruitment, and replacing traditional graduate programs with highly desirable qualifications.
“Apprenticeships offer flexibility and the ability to tailor courses for specific development needs, making them particularly valuable to employers. These programs provide opportunities for training in high priority areas such as digital skills, finance, data analysis, and management, bringing new skills into the business and benefiting every organisation.
“At Grant Thornton, we are passionate advocates of apprenticeships as a valuable and effective route for young people to become trusted business and financial advisers. Apprenticeships promote social mobility in our communities and ensure a diverse and highly skilled talent pipeline for our firm, enabling us to provide top-quality service with teams that reflect the clients we serve.”
Grant Thornton UK LLP recruits hundreds of school leavers every year, with eight school leavers joining the firm’s Welsh offices in September 2022. Nationally, Grant Thornton has more than doubled the number of trainees joining its school leaver apprenticeship programme, achieving a record 193 new recruits, up from 90 in 2021.
