What is the Apprenticeship Levy?
The Apprenticeship Levy is a government initiative that your business can use to fund apprenticeship training at no extra commercial cost.
By ringfencing money especially for apprenticeship training, the Levy is designed to boost skills and training provision.
How to use your Apprenticeship Levy
You can use your Apprenticeship Levy to fund upskilling and reskilling apprenticeship training for your employees.
Not sure where to start?
Multiverse can help you to identify your skills gaps, craft a Levy strategy, and select the best fit apprenticeship programmes for your workforce.
The Apprenticeship Levy explained: FAQ
Your Apprenticeship Levy checklist
1. Understand your Levy spend
If your annual pay bill is more than £3 million, work out your monthly levy contributions by calculating 0.5% of your gross annual payroll and divide by 12. If Levy payments apply to you, the funding to spend will be in your apprenticeships service account.
2. Identify your skills gaps
Identify across your business where there’s a need for upskilling, and consider how apprenticeship programmes could help to develop employee tech, data, and AI skills.
3. Launch a pilot scheme
If you’ve never offered apprenticeships to your teams before, start small with a pilot scheme – launch a small cohort of learners and trial the process internally.
4. Measure impact
Approximately three months after recruiting your first apprentices, assess the progress of the programme and the impact the apprentices are having.
5. Plan expansion
Now you’ve found the right approach, you’re ready to expand by launching larger cohorts and additional apprenticeship programmes.
6. Develop progression
Your programme’s working, you’ve expanded it; what next? Look at growing the apprenticeships you offer and develop progression routes for employees.