Since 1st August 2016 government reforms mean that workplace training outside of apprenticeships will no longer be funded in any capacity by the Education & Skills funding Agency. This is a huge change which effects many employers develop their workforce through providing standalone NVQs and knowledge qualifications to their staff.
The facts behind the funding which is available to an employer towards the training costs of an apprenticeship here at UCQ are:
– In alignment with other professional degrees in England, the CMDA is £27,000 per person.
– Businesses that do not pay the levy may receive 90% of the programme value from the government.
– Businesses that pay the levy and have the funds in their digital account, may draw the entire 100% programme value from their levy account.
If you have been tasked with considering your businesses’ strategy for apprenticeships, we can help – there is certainly enough information to begin your planning now.
UCQ are able to support you with reviewing your businesses’ talent strategy as a whole (graduates, apprentices and internal talent/development schemes) across all divisions and functions, with a view to designing new propositions that are interconnected.