New research from Oxford Economics revealed that 12,100 UK apprentices added an extra 拢106.1 million in revenue last year alone.
The study, commissioned by the Chartered Management Institute (CMI), shows that companies backing their staff on these apprenticeships benefit from higher productivity, stronger leadership, and more effective teams.
The research also found that the highest-level apprenticeships, at Level 7, delivered the biggest increase to business turnover, equating to an average increase of 拢36,700 per apprentice.
The report found that private sector workers gaining a management apprenticeship boosted annual business revenues by 拢20,900.
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Around 35 per cent of management apprentices saw a significant salary increase after completing their training, with an average pay rise of 拢12,000.聽
The findings also point to a positive shift in gender diversity, with 59% of management apprentices being women.
Petra Wilton, policy director at the CMI, said: “This research proves what UK businesses investing in management apprenticeships already know – these programmes aren鈥檛 just good for individuals, they鈥檙e delivering real bottom-line benefits.聽
鈥淏etter leadership, stronger teams, and a pipeline of skilled managers are translating into higher productivity and millions in extra revenue.
鈥淎t a time when businesses are looking for every competitive edge, investing in management apprenticeships is a smart move.聽
鈥淣ow is the time for UK employers to prioritise leadership and management development – investing in apprenticeships today will secure a stronger, more resilient workforce in the years ahead.鈥�
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