Amy StageIn today’s competitive job market, finding and retaining top talent can be incredibly challenging. For companies, Registered Apprenticeship is an investment not only in its employees but in its future.
What is Registered Apprenticeship?
Registered Apprenticeship is a structured program that helps employers develop a skilled workforce through on-the-job training and classroom instruction. Apprentices are full-time employees who produce high-quality work while they learn the skills needed to succeed in their chosen pathway.
What are the benefits of a Registered Apprenticeship Program?
- Established talent pipeline: Registered Apprenticeship Programs create a steady supply of trained workers, without any loss of production time, while simultaneously creating coveted career opportunities for employees.
- Standardizing training: Registered Apprenticeships follow an established structure with a standardized number of hours across different skills, ensuring that all apprentices are equally equipped for success in their chosen career path.
- Increased Retention: When you invest in your talent, they invest in you. By establishing career pathways for employees to grow, they’re more likely to stay with the company.
- Reduced Costs: Registered Apprenticeships significantly reduce hiring costs. When companies provide their employees with pathways to success, they keep the strongest talent and decrease employee turnover.
What’s the Return on Investment (ROI) of a Registered Apprenticeship Program?
Launching a Registered Apprenticeship Program isn’t merely a cost; it’s a strategic, long-term investment. Companies that establish career pathways for their employees through Registered Apprenticeship benefit from a higher skilled workforce and see an increase in productivity and employee satisfaction.
- 93% of apprentices retain employment after completing a Registered Apprenticeship Program.
- Over 80% of apprentices remain with the company 5 years after program completion.
To offset the costs of making this investment, there’s a range of state and federal tax credits designed to incentivize employers to launch Registered Apprenticeships. These include state tax credits, federal incentive programs, and national investments in direct apprentice support for Related Technical instruction. (RTI).
By establishing a regimented talent pipeline that future proofs the workforce, companies can ensure they have top-tier talent driving their operations for years to come.
Ready to get started?
If you’re ready to make an investment in your workforce, MACNY, The Manufacturers Association, can help get you started. As a trusted apprenticeship intermediary, MACNY helps companies future-proof their workforce and retain top talent through Registered Apprenticeship. To learn more, reach out to:
Amy Stage
Director of Apprenticeship & Workforce Development
astage@macny.org | 315-474-4201 ext. 58
