Results of BIBB Cost-Benefit Survey 2012/13
What is the cost of apprenticeship training to companies, and what benefit do they gain from it? This question is pursued in a representative survey on the costs and benefits of apprenticeship training. From the findings, it is evident that for the majority of companies, apprenticeship training is initially associated with costs; in other words, it represents an investment.
By hiring apprentices once their training is complete, substantial personnel recruitment costs can be saved which would be incurred if companies were to recruit skilled workers via the labour market. These compensate for a major part of the total costs of apprenticeship training.
Furthermore, hiring apprentices once their training is complete also gives rise to long-term advantages. By providing apprenticeship training, companies can wholly or partly meet their needs for skilled workers and thus reduce their dependency upon trends in the external labour market. Moreover companies can also impart company-specific knowledge during apprenticeship training and fill skilled vacancies with the newly qualified workers who performed best during training. Overall, what emerges from the study is that in normal circumstances, apprenticeship training pays off for companies.