Apprenticeships develop skills that can only be gained through employment, say 77 per cent of companies.
Some 54 per cent of decision-makers in businesses of all sizes say apprenticeships offer improved career prospects, while 73 per cent say they provide businesses with the opportunities to harness fresh talent.
Almost half (47 per cent) believe apprenticeships are a faster route to a career compared to a degree, and the same amount think it’s a more cost-effective route into a career than university, according to a YouGov study commissioned by training specialist Kaplan.
The study highlights what those in the finance and accountancy industry think are benefits to those taking apprenticeships, identifying the ability to learn the skills they need while earning a wage (78 per cent), receiving skills that can only be learnt in a working environment (77 per cent), and the chance to learn from experienced senior people in their industry (72 per cent) as the top three benefits.
The statistics also show an appetite for offering apprenticeships spanning industries across the UK, with almost a third (31 per cent) of the 1,000 decision-makers surveyed saying their company currently offers apprenticeships.
In the finance and accounting industries, just over a quarter (26 per cent) of decision-makers say their company offers apprenticeships.
These results suggest businesses are keen on the idea of harnessing fresh talent by taking on apprentices, with the majority (73 per cent) of respondents saying one of the benefits of apprenticeships for businesses is that they provide opportunities to harness fresh talent.
More than three fifths (64 per cent) champion apprenticeships, saying that they help businesses to address skill shortages within the workforce.
Cassandra MacDonald, head of accountancy and tax apprenticeships at Kaplan says, ‘We have carried out extensive research to form a clear picture of how employers see both graduates and apprentices so young people can understand the development options available to them, and take apprenticeships seriously as a route into a professional career.
‘While getting a degree is still a valued next step, apprenticeships address the issue that not all candidates are born job-ready. They give businesses the chance to be fully involved in how their new employees are trained.’