I believe that small business and entrepreneurship is the way of the future. The recession has hit many companies hard. Some have bitten the dust, some have merged, some have changed beyond recognition and some have sprung up. Although the statistics regarding small business can sometimes make grim reading - many fail within the first few years of being in operation - there are many more success stories of those who have taken the business plunge, made the sacrifice and made self-employment work for them and their families.
Of course, it is difficult for small businesses to compete with the largest corporations in many things and finding new recruits is no exception. Whilst the Big Boys have the funds to pour into expensive graduate schemes, small businesses do not and sometimes miss out on the ‘creme de la creme’ which they need to develop and grow. But you do not need an expensive recruitment drive in order to acquire new talent for your business. If one of your loved ones or relatives shows an interest and some aptitude, then take them on! Train them well and they could be an asset to your company both in the short and long term. Companies are beginning to see the advantages of taking on apprentices, if the stats are anything to go by. In 2007, in England alone over 130,000 businesses employ nearly 250,000 apprentices. So what are the benefits of apprentices for your business?
Well the main one is monetary benefit to your company. Many businesses find that their business costs are reduced because:
* Apprentices are usually paid lower wages
* Your government may have some funding available for businesses who take on apprentices/trainees
* Increased productivity which could lead to savings for your company
* Lower staff turnover. When fewer people leave, then you spend less on recruitment and training.
If your company has employees, then having an apprentice (or apprentices) can lead to to greater employee satisfaction. Apprentices are usually very passionate and motivated. They tend to work hard and more effectively which can only be good news for you and your business.
By having someone new with fresh ideas and points of view, your company can become more competitive. They may have new ways of doing things that you may have not considered which will help your business become more competitive. In the business world, loss of competitive edge can have an adverse effect on a company leading to at best, loss of face and at worse, loss of clients, investors and suppliers.
They help to supplement a workforce which, and I refer to the UK when I say this, is aging. Recruiting an apprentice means that young people are introduced into the business and the knowledge and skills can be retained and transferred. Furthermore, apprenticeships offer those who may not usually get an opportunity to work to do so - women, ethnic minorities and disabled. This means that the talent pool becomes wider especially in those areas where there are skills shortages. Employing these people helps develop role models which will attract people to your company in the future.
You will find that your business is able to recruit much better and more effectively. One of the key strategic decisions that you have to make involves employing people. Your business will find it easier to recruit young people if it is full of young people or those who started from the bottom and worked their way to the top. It is not only your business that profits. The apprentices get to learn skills that they can take with them when they progress either within or without the company.
As you can see, there are multiple benefits for your business should you be considering apprenticeships. Yes there may (but not always) be some outlay on your part, a leap of faith that you will have to take. But if you look past that, then you will see that the pros outweigh the cons; meaning that when and if you retire, you are leaving your well cherished company in the hands of someone who not only has the skills to run it but has the passion also.
Take care and God bless readers….
© Ngozi Nwabineli - October 2009
