Discovering the latest updates on apprenticeship deployment has never been more exciting.
The latest edition of the Apprenticeship Outlook Report offers insightful findings on the Net Apprenticeship Outlook (NAO) - the proportion of entities willing to increase their apprenticeship engagement minus those who plan to decrease it.
The services sector has its fair share of interesting revelations, with the top three industries with the highest NAO being Telecom, E-commerce & Tech Products, and BFSI.
Speaking about this, Dhriti Prasanna Mahanta, Business Head, TeamLease Degree Apprenticeship said, “Telecom, E-commerce & Tech Products and BFSI are among the top industries with the highest intent to engage in apprentices. 42% of BFSI employers and 35% of IT/ITeS employers have reported a success rate of 75%-100% in apprenticeship training completion.”
The BFSI industry, in particular, highlights how HR leaders prefer apprentice engagement as a way to enhance staff loyalty and retention. The engagement of apprentices can also decrease the cost of the workforce and ensure compliance with the law.
Meanwhile, the IT/ITeS industry prioritizes apprenticeship engagement for its potential to lower the cost of their workforce, create a talented pool, and cultivate staff loyalty and retention.
The BFSI and IT/ITeS industries rank as the top two sectors and more than 50% of their engaged apprentices complete training, with 42% of BFSI and 35% of IT/ITeS employers observing 75%-100% rates in apprentices completing their training.
Moreover, job roles are essential in apprenticeship engagement. The Apprenticeship Outlook Report identified the top three roles for Optional/Designated Apprenticeships in BFSI and IT/ITeS.
Top 3 Roles for Apprentices
In BFSI, the top three apprentice roles are Microfinance Executive, Credit Processing Associate, and Finance Executive. In IT/ITeS, they are Application Support Engineer, Back End Developer, and Data Engineer.
The top three roles in Graduate Apprenticeships in BFSI are Database Analyst, MIS Executive, and Technical Support - Non Voice, while for IT/ITeS, they are IT Support, Embedded Systems Engineer, and DevOps Engineer.
As more and more businesses show a growing desire to invest in apprenticeships, there has been a notable uptick in the Net Apprenticeship Outlook, which has risen by approximately 25% over the past two years.
Want to learn more about the state of apprenticeship deployment, the Apprenticeship Outlook Report is now available for download.
The report provides a comprehensive analysis of the industry, highlights key trends and insights, and is a valuable tool for employers, policymakers, and other stakeholders.
Get your copy of the Apprenticeship Outlook Report today!