Learn how you can leverage the power of apprenticeships in our National Apprenticeship Week blog to grow and develop your business.
From school leavers to career changers and existing employees, apprenticeships allow you to develop talent at every level – helping you close skills gaps, improve retention and plan for the future with confidence.
Research from The Open University’s Business Barometer 2023 shows that one in four organisations are looking to train employees through apprenticeships, reflecting the growing recognition of their value. If you are considering apprenticeship training, the key is ensuring the programme you choose is aligned with the skills and knowledge your business needs.
Access a wider, more diverse talent pool
Apprenticeships are open to people of all ages, backgrounds, and career stages, giving your business access to a broader range of talent than traditional recruitment routes.
You may attract young people entering the workforce for the first time, experienced professionals seeking a career change or existing employees looking to progress.. Data from The St Martin’s Group found that one-third (33%) of employers said apprenticeships have improved diversity within their organisations. A more diverse workforce can strengthen decision-making, organisational culture and long-term performance.
Improve employee retention and build loyalty
Hiring apprentices can significantly improve retention. Apprentices are trained within your organisation, understand your organisational culture and processes, making them more likely to remain and progress with your business.
The structured nature of an apprenticeship offers clear development pathways, which supports progression and engagement. According to a study from the National Apprenticeship Service, 65% of apprentices remain with the employer who trained them after completing an apprenticeship programme. This means lower turnover and greater return on your investment in people.
Reduce recruitment and talent costs
Recruiting experienced professionals can be costly and time-consuming. Apprenticeships allow you to develop skills internally while reducing reliance on repeated external recruitment.
There is also government support to help fund apprenticeship training for eligible apprentices. These incentives and levy funding can significantly offset costs, making apprenticeships a cost-effective way to build capability. By investing in apprentices, you create a sustainable pipeline of future talent aligned with your business from day one.
The wider impact of apprenticeships
The benefits of apprenticeships extend beyond individuals and businesses to the wider economy. Modelling from the Chartered Management Institute found that each annual apprenticeship cohort in England contributes almost £700m a year to the UK economy within a decade.
Apprenticeships also support productivity. According to the Coventry & Warwickshire Chamber of Commerce, apprenticeships boost productivity by an average £214 a week to businesses.
Attracting and develop talent with an ICAEW Apprenticeship
ICAEW apprenticeships can give you a competitive edge by helping you attract, develop and retain high-quality finance and accountancy talent. With the right structure in place, apprenticeships can become a key part of your workforce and succession planning. Investing in apprenticeships is not just about training individuals. It’s about building capability, strengthening your business and supporting long-term resilience.
Build talent with an apprenticeship
Last updated: June 2026