The ROI of Apprenticeships

Builder On Building Site Discussing Work With Apprentice
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You are not fired!

Donald Trump’s signature phrase “You’re Fired” from the reality TV show the Apprentice had it all wrong.  It should be “You’re Hired.” Apprenticeships are the way to go. The numbers are in and the ROI on apprenticeships cannot be ignored:

  • Every $1.00 spent on apprenticeships yields an ROI of 47% for employers
  • Exceptional placement rate after training
  • Extra lifelong earnings for the employees and a $50,000 average starting wage

This is according to Nicholas Wyman, CEO of the Institute for Workplace Skills and Innovation.

Click here to read an article on why companies should invest in apprenticeships.

Click here to read an article on why investing in apprenticeships makes good dollars and sense.

Apprenticeships are successful as they follow a well-tested training model that includes: job-related education, with supervised on the job learning and saleable wages. This system works.

Apprentices are no longer tied to the traditional trades: carpenter, electrician and mechanic. All type of industries and occupations such as sales, engineering, health care and computer programming can benefit from apprenticeships programs.

South Carolina is leading the way and taking apprenticeship programs beyond the norm.

Click here to see what South Carolina (SC) is doing right with apprenticeships.

Look at South Carolina’s apprenticeship growth numbers. In 2007, they had:

  • 90 companies that had apprenticeship programs, and now they have over 600 companies.
  • 770 apprentices and now nearly 11,000 apprentices.

What has caused this apprenticeship explosion? Three things, 1) it works, 2) a small employer tax credit and 3) Germany. Yes, Germany has set up companies in South Carolina and has brought its training philosophy to the State.

Is this program paying off for South Carolina? For he past three out of four years, South Carolina has been rated the best place in the world for international investment.

If you are lucky enough to get into an apprentice program it looks like you are hired!

Discussion Questions:

  1. Research colleges and companies that have expanded the apprenticeship program beyond the traditional trades.
  2. Pick a non-traditional apprenticeship program and develop a five minute presentation to your VP of HR to convince them they should consider developing an apprenticeship program.

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