Developing Young Talent and the Value of Apprenticeships
In today’s economy, offering a robust employee development program is key to attracting the right talent for careers within the construction industry. Industry insiders have discovered that with training and support, workers can develop skills that are transferrable and highly valued throughout the U.S. This flexibility is beneficial as every project is unique, locations vary, and project teams often change.
Investing in employees through education and training helps ensure continued success and growth within an organization. In fact, research has shown that apprenticeships offer numerous benefits to employers as well as to employees. Many companies have begun to offer in-house training and accreditations, further allowing young talent to hone their skills. In short, investing in talent development-focused apprenticeships generate a pipeline of loyal and skilled workers, enhance productivity, and improve the bottom line.
Here are examples of how developing young talent and apprenticeships add value to an organization:
Build a pipeline of skilled workers
For those construction companies which recognize that they can’t always “buy” their talent through traditional recruitment efforts, apprenticeship programs can help build talent from the inside. Employers and Trades who offer their own programs can craft the training to meet their specific needs and standards for performance and safety. Establishing an apprentice program conveys the message that a company/industry is invested in the future of its employees.
Each apprentice’s success is closely tied to the company’s growth, which leads to employee loyalty and increased productivity, ultimately yielding a decreased turnover rate. According to the Department of Labor, 91 percent of those who complete their apprenticeship are still employed by their company nine months later.
In addition to reduced turnover, strong company loyalty can prompt workers to be more productive. The completion of an apprenticeship program results in highly trained professionals whose knowledge, skills, and on-the-job experience enables them to understand the business and how best to meet its needs. The increase in productivity can then translate into lower prices and bigger profits.
Companies who participate in apprenticeship programs often have lower talent acquisition costs. There is also the increased certainty that the employee has already developed both an interest and aptitude for the respective industry which yields less training costs.
Successful companies within the construction industry recognize that their employees are the most valuable asset they have. Investing in apprenticeships and training not only prepares workers for a profitable future but demonstrates a commitment to employee development and growth within an organization.