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Employers consider apprenticeships as a strong talent development strategy: Report

A survey of nearly 200 industry leaders by TeamLease Degree Apprenticeship found that over 65% of companies see apprenticeships as a cost-effective way to train new workers. The study found that many companies think internships have the same effect on developing and improving skills as other changes in the business world.

A study showed that more than 65% of employers who were interviewed think that apprenticeships are a good way to develop talent that is also cost-effective.

TeamLease Degree Apprenticeship did a poll with almost 200 industry leaders, and the results showed that the companies saw apprenticeships as a transformative force in the current job market because of how they train and improve the skills of new professionals.

The study also showed how important apprenticeships are to real-time talent engagement. Thirty percent of the people who took the poll said that apprenticeships can make employees more proactive and engaged. This shows how apprenticeships can change people into motivated workers who actively add to the success of an organisation.

The survey showed that 28% of respondents knew that apprenticeships increased productivity. This shows that apprenticeships are good for both individual and organisational success.

"Employers are not only recognising the huge value of apprenticeships, but they are also showing their commitment by giving generous stipends that go above and beyond the required rates by anywhere from 40% to 82%. This spending has a great return on investment (ROI). For example, apprenticeship programmes give back three to four times what was put in. "This big willingness to put money into apprenticeships shows how important they are for attracting and keeping top talent," Mr. Kumar said.

Apprenticeships aren't just seen as a way to develop talent; they're also seen as a complete answer because they combine classroom learning with training on the job.

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