What are the benefits of an apprenticeship program?
For the employer:
- Improved productivity and profitability
- Customized training that aligns with advances in technology and company-specific needs
- Reduced employee turnover
- Vehicle to recruit a more diverse, skilled and talented workforce
- Program can be structured for new hires or current employees
- Ability to offer job-related instruction at the company or in partnership with a local community college or technical school
- Opportunities for tax credits and support through WIOA
- The return for employers is $1.47 in increased productivity, reduced waste, and greater innovation.
For the apprentice:
- Upon program completion, the apprentice will earn a DOL industry-recognized national credential
- Attainment of in-demand skills and industry credentials without the burden of high tuition fees and student loan debt
- Career advancement
- Higher wages & increased earnings: the ability to earn $300,000 more over their lifetime than their non-apprentice peers
- Average starting wages for apprenticeship graduates is $50,000/year
- Apprenticeships are a win-win with $27 in returns for every dollar taxpayers invest in apprenticeship programs.
For the community college/technical school:
- Training the next generation of skilled workers in manufacturing
- Ability to align curriculum with local employers’ needs
- Ability to offer high-quality training tied to industry credentials
- Real-time feedback from local businesses on technology advances that may require changes in program curriculum
- Opportunity to create pathways to degrees at your institution for apprentice graduates