IMI calculator to show true benefits of apprentices 18 July 2014
IMI has launched an apprentice ROI (return on investment) calculator aimed at helping employers and training providers to improve the business case.
The calculator makes use of data from IMI's recent ROI studies and allows organisations to measure the costs of hiring an apprentice against their own requirements.
IMI's studies suggest that businesses can expect up to 300% ROI from hiring an apprentice over a three-year period.
Apprentices who start with no experience typically also generate profit within 18—24 months, which is much earlier than previously assumed.
"Automotive employers must overcome doubts about the financial costs of employing young people if we are to secure a successful future for our sector," states IMI CEO Steve Nash.
"IMI's recent ROI research broke the myth that apprentices cost firms money and overwhelmingly demonstrated that there is a clear and significant financial return," he continues.
"The new calculator allows us to take our research into a business and demonstrate exactly how this relates to their unique situation."
IMI Precision Engineering
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