Whether you’re looking for a way to get started in the workforce or you’re an employee, apprenticeships are a great way to get the skills and training you need to advance your career. They also can be a smart investment for your company. Read on to learn more about the benefits of an apprenticeship, as well as the types of programs that are available.
Time-based vs competency-based
Whether you are an employer looking to develop your workforce or an apprentice looking to get ahead, it is important to understand the differences between time-based and competency-based apprenticeship programs. These two models have different advantages and disadvantages.
A time-based model measures skill acquisition through hourly OJT requirements. In some industries, a successful track record has been achieved with this approach.
A competency-based program uses a combination of on-the-job training and classroom instruction to train an apprentice. This approach has been more common in nontraditional occupations. However, it does not apply to all workers. Using a competency-based model makes it easier for employers to adapt to changing work needs.
While there are differences between time-based and competency-based approaches, it is possible to create a hybrid program that combines the two. In this case, the most significant thing is not the number of hours spent in the program, but the quality of the on-the-job learning.
Most popular apprenticeships in 2016
Traditionally, apprenticeships were widely used by young people. Today, they are increasingly dominated by older employees. However, policymakers must continue to invest in successful apprenticeship models. This will ensure that more workers can land well-paying jobs.
In the United States, apprenticeships are offered by industry associations, unions, and employers. Typically, they require a combination of on-the-job training and classroom instruction. The program duration is typically between 50 and 144 hours per week. Some programs are time-based while others are competency-based. In both types, employers must offer portable credentials and a competitive package of current pay.
Apprenticeships are available to young people aged 19 to 24. There are three different types: Active, Registered, and Employer Only. Most are in skilled trades. In 2016, the most popular apprenticeships were in skilled construction trades.
A growing number of companies are offering corporate apprenticeships. These programs are designed to provide an opportunity for students to earn college credit while gaining practical experience. These programs are sponsored by employers such as IBM and The Home Depot.
Return on investment for registered apprenticeship programs
Several studies have shown that registered apprenticeship programs offer a great return on investment. They increase employee productivity and reduce recruiting costs. They also help to develop a pool of experienced employees. These apprenticeship programs can help to keep your business competitive in today’s tight labor market.
The return on investment (ROI) for registered apprenticeship programs is typically between 170% and 210%. Depending on the size of your business, you may receive a larger or smaller ROI. The amount of your ROI is dependent on the type of apprenticeship program you choose and the benefits you can expect to receive.
One study showed that for every dollar you spend on an apprentice, you receive a return of $1.47 in increased productivity. The study also shows that the best way to get a good return on your investment is to align your apprenticeship program with your business aims.
Another study showed that the ROI for an apprenticeship program is a combination of direct and indirect benefits. Indirect benefits included improved company culture, improved loyalty, reduced turnover, and an improved talent pipeline.
Whether it’s for your own business or an employee’s, apprenticeships are an important way to train workers in a specific craft or occupation. Students participate in classroom instruction and then complete work-based learning to prepare for postsecondary education or advanced training.
An apprentice typically works year-round and may be required to complete a portion of a degree. Depending on the requirements of the position, an apprentice’s training can last from a couple of weeks to several years. It is important to choose an apprentice who fits the culture of your organization and is a good fit for your needs.
In addition to practical work experience, students may receive theoretical education in the workplace. For example, a student with algebra problems may receive tutoring. Those in science, math or other technical fields might be asked to write a research or creative project. This requires Institutional Review Board approval.
Students also have a mentor. The mentor provides guidance and coaching to help the apprentice succeed. The employer pays the wages of the mentor.