That’s good news to me if it includes funds to help us promote apprenticeships in the motor industry to females in advance of their GCSE studies.
At present the industry is missing out because it’s the girls that are getting the better STEM (Science, Techniology, Engineering and Mathematics) results but few know much about motor industry careers.
The IMI recently published the results of a two year project to prove the value of apprentices in the automotive sector. This proved that vocational training does not have to be a cost-burden to business – quite the opposite it seems.
Not only do apprenticeships reduce youth unemployment but the IMI’s research shows that, by the end of their third year, the right apprentice can generate between 150% and 300% return on investment, based on a £50 hourly charge. In other words, for every £1 a firm invests, it will see a return of between £1.50 and £3.
“Our research proves that businesses can reap genuine financial rewards from employing young people” explains Steve Nash, the IMI’s Chief Executive.
“Vince Cable has said that the Government wants to change young people’s thinking and make it the new norm that they either go to university or pick an apprenticeship. That is a fantastic attitude and one that the IMI wholeheartedly supports – if it comes to fruition. However what we now need from the Government is a clear strategy on how – and where – its promised new funding will be delivered.”
To be specific, how much of this money is coming the way of the motor industry so we can help support businesses who want to expand their workforce to benefit the UK economy. And, from FOXY’s point of view, attract young female students by promoting the exciting motor industry careers too many are missing out on.