Gone are the days when apprenticeships were viewed as suitable only for manual trades.
Apprenticeships are perfect for office-based roles and especially so for the accountancy sector.
There will always be a need for skilled accountants to balance the books and ensure financial rules are followed. Read on to find out why you should employ an accountancy apprentice.
As accountancy training is traditionally provided through both theory and in-house training, this is what makes an apprenticeship so well suited to the sector. Apprentices can study for a recognised accountancy qualification, from such as an ACA qualification, but they will also learn the softer skills in the workplace that you can only learn on the job.
The apprentice minimum wage from April 2022 is £4.81 an hour. Even a small increase to help attract the best candidates is less than the minimum wage for anyone aged 18+ which is £6.83. You can find out more about apprenticeship wages here.
There are also lots of ways employers can gain funding, grants and incentives to help with training costs. While larger accountancy firms can use their apprenticeship levy to fund training, smaller businesses can use levy gifting to pay for training. This is money ‘gifted’ by larger business for SMEs to access.
Bringing a new member of the team will bring a fresh approach and creativity to your business. You can be sure that your apprentice will want to learn and understand all about the accounting world and will bring new ideas and innovative ways of doing things that could revitalise your team and your business.
A report published in summer 2021 by the Professional & Business Services Council and the Financial Services Skills Commission found that 32 percent of UK firms are experiencing shortages in financial, professional, and business services skills.
Taking on an apprentice means you’ll be investing in the accountants of tomorrow. You’ll be giving them unrivalled, hands-on experience with the potential to offer a permanent role, which will ultimately benefit your company in the longer term.
It also means that your apprentice can grow with the company and as their career progresses, any skills gaps can also be filled from within.
Apprenticeships are one of the best ways to bring in new talent and upskill existing staff but we know it can be a confusing process. That’s why our experienced team will take the hassle out of the process and guide you through the process from start to finish.