Apprentices worldwide are preparing to join the skilled workforce, meeting the growing demands from diverse employers across many industries. To recognize their remarkable productivity, industriousness and innovative thinking, Nov. 13-19, 2017 is being celebrated as National Apprenticeship Week. For the third year in a row, the United States Department of Labor is using this week as a means for leaders in business, labor, education and other critical areas to showcase their communities, including special programs, facilities, accomplished apprentices and more.
7MÊÓƵ joins this celebration, by highlighting seven reasons* to be grateful for apprenticeships.
- Apprenticeships help American businesses and the economy grow. Employers earn approximately $1.50 ROI, for every dollar spent on apprenticeships, improving productivity and the bottom line with skilled workers on the job.
Apprenticeships bring diverse people together nationwide. Roughly 150,000 employers and organizations participate with more than 400,000 apprentices registered nationwide, filling over 1,000 different occupations. Philanthropic and non-profit organizations also support apprenticeships through grants and educational programs, generating more community partnerships.- Recruiting and developing a highly skilled workforce establishes a competitive advantage. About 78 percent of electricians who believe there is an electrician shortage agree that more on-the-job training would create a more experienced workforce. Apprenticeships offer this training and help lower the skills gap.
- Turnover costs are reduced and employee retention rates are increased with more apprenticeships on the worksite. Ninety-one percent of apprentices that complete their programs are still employed nine months later, and eighty-seven percent are employed, overall, after completing their programs.
- Hiring processes are streamlined with qualified workers fit for local employers. Industry-driven training solutions are designed to meet national and local needs.
- Apprenticeships offer a hands-on solution for individuals to work towards financial security. Only 11 percent of employers strongly agree that America’s institutions of higher education are teaching graduates the skills their companies need. Through apprenticeships, individuals earn a credential equivalent to a 2 or 4 year college degree and can expect to earn an average annual salary starting at $50,000.
- Apprentices earn, learn and succeed, reducing their need to take on debt. The apprenticeship model paves the way for career building with continual, life-long learning of skills and abilities, helping workers obtain higher levels of employment in an industry. Workers who complete apprenticeships earn $300,000 more over a lifetime than their peer counterparts.
This season, and every day, 7MÊÓƵ is grateful for the hard work apprentices do to learn, earn and succeed alongside generations of mentors. We are proud of their work, and even prouder to be able to help them get the job done with the right tools.
*Statistics and facts have been compiled from resources, including the and the . Visit these sites to learn more about the impact of apprenticeships on the American workforce.