Return on investment from apprentices - good news for employers
Lucie Wenmakers, Group Manager - Corporate Affairs, presented the results of a recent MITO research project, Return on Investment from a MITO Apprenticeshipat an international forum in Canada recently.
The research looked at the value of automotive apprenticeships in New Zealand and what the costs and benefits are for apprentices, employers and for society as a whole.
The research results indicate that employers recover their investment in an apprentice in the second year of training. Given that apprentices tend to stay with their training employer for around five years, the results endorse that an apprenticeship is a worthwhile investment for employers.
The benefits of apprenticeships to society include fewer accidents in the workplace due to health and safety training, and fewer accidents on the roads because of improved vehicle maintenance.
More young people involved in skills training also results in:
- reduced crime and unemployment
- improved health
- less dependence on social support systems.
Benefits for the apprentice are:
- increased status and career mobility
- better quality of life
- long term salary advantage.
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