While there isn't always an easy black and white answer to this question, we can give you some factors to consider. The U.S. Department of Labor has collected data over the years on some of these factors. The data shows that apprenticeship:
Source: U.S. Department of Labor Office of Apprenticeship
If you have difficulty finding the skills you need for your organization in the open job market, apprenticeship could be a solution. One question you need to ask yourself is this: what is it costing you now to have jobs unfilled?
Below you will find a helpful diagram depicting one way to analyze the benefits of apprenticeship for your organization. Below that you will find a downloadable copy of the diagram plus a return on investment study that was completed in 2016.
We're here to help you ask and answer some of the important questions to determine whether apprenticeship might be beneficial for you or your organization.
We can help you put together your return on investment analysis. Click on the button below to access our Contact form.
Examples of monetary benefits include:
Examples of costs involved include:
It is important to bear in mind that these costs may be offset in whole or in part by grant funding, job training funding and/or tax credit incentives.