Apprenticeships are work based training programmes for existing and new employees. Because we are an employer led organisation, we know what employers are looking for in developing talent.
The apprenticeship frameworks address the needs of employers who wish to develop a qualified and competent workforce and we can identify the right apprenticeship framework for each employer’s needs.
Increasing productivity
Apprenticeships are a proven way to train a workforce and enable a firm to be more effective, productive and competitive. Many financial services firms that employ an apprentice have said that apprentices bring higher overall productivity.
Developing talent
Apprenticeships are a way to find fresh talent and develop it. Many financial services employers who employ apprentices rely on their apprenticeship programmes to provide skilled workers for the future.
Improving employee motivation
Investing in employee training improves employee motivation and increases loyalty. This leads to increased retention rates and allows organisational knowledge to be retained and shared.
Meeting regulatory requirements
Where regulatory requirements exist apprenticeships can offer the right solutions.
Enhanced corporate reputation
Many consumers favour firms which employ apprentices.
Our Regional Directors and Business Development Managers work with employers to help identify training needs and suggest suitable solutions. Apprenticeships work like a wrapper combining different types of training and education within a framework.
The framework consists of four parts:
The vocational qualification demonstrates that the apprentice has the competence to do the job. Apprentices are assessed as they develop their skills and competencies to fulfil the job role in their industry sector. The competence assessment can be mapped to a firm’s own Training & Competence scheme.
Many employers choose to pay a competitive market rate for new apprentices, but as a minimum they must comply with a new National Minimum Wage (NMW) which came into force on 1 October 2010.
Apprenticeships may be publicly funded but the amount of funding varies according to the apprenticeship framework, the age of the learner and the size of the employer.
Public funding covers the full costs of training for apprentices under the age of 19 and is paid directly to the training provider. For apprentices over the age of 19 an employer contribution may apply.
Download the brochures:
Apprenticeships – employer information
Apprenticeships – employee information
Call us on 0845 618 2353 or email us at info@nsafs.co.uk to find out more.
The National Financial Services Skills Academy is a company, limited by guarantee, registered in England and Wales with company number 6205260. The registered address is GD Law, 10 St Bride Street, London EC4A 4AD. The trading name is the National Skills Academy for Financial Services. A Registered Charity number 1129904.
