The Chartered Management Institute (CMI) has welcomed the latest employer guidance on the Apprenticeship Levy published by the Department for Business Innovation and Skills, which sets out a clear timeframe for the implementation of the Levy.
Commenting, Petra Wilton, CMI’s director of strategy and external affairs, said:
“Employers have less than twelve months to put their plans in place, and so a concise guide to announcements to date on the levy is to be welcomed.
“The guide sets out a clear timetable, and employers need to act now to take full advantage of available skills funding. Apprenticeships are a highly cost effective route for workforce training, but will require new relationships and a fresh approach.
“Degree apprenticeships have only just arrived but have already established themselves as a key tool for improving management capability and maximising workforce potential. Smart business leaders that recognise the power of a professionally trained workforce are already setting up programmes to benefit from the current funding regime.”
The latest update from the Department of Business, Innovation and Skills follows the Chancellor’s outline for the Apprenticeship Levy in his March Budget. The levy encourages employers to offer apprenticeships, and addresses the challenge that 71% of businesses admit that they fail to effective train first-time managers.
In November 2015, the new Chartered Manager Degree Apprenticeship was launched. Developed by a group of 40 employers and universities, led by Serco and supported by CMI it is among the first of the Degree Apprenticeships offered under the Government’s Trailblazer programme.
The Degree Apprenticeship is aimed at helping meet the requirements of a growing UK economy needing more than one million new managers by 2020. Under the scheme, managers who complete the apprenticeship will earn a degree in management and business and become a Chartered Manager.
The four-year courses bring together a world-class business education, work-based learning and professional development through to Chartered Manager status, tailored to the needs of employers and employees. The Chartered Manager Degree Apprenticeship provides work-based learning for both non-graduate existing managers as well as school leavers.
Apprentices will follow a programme developed by employers, CMI and the Chartered Association of Business Schools, ensuring they earn degrees from renowned universities and business schools. Apprentices become members of CMI and will attain Chartered Manager status by the end of their apprenticeship. Chartered Manager is the highest accreditation that can be achieved in the management profession.
Full press release on www.managers.org.uk