Reasons why apprenticeships are an ideal way to upskill the over-50s
The finance and business sector workforces are always evolving. Though graduate schemes seem to fast-track young people into more senior roles than in decades gone by, there is still huge value in people aged over 50 who bring invaluable experience to the table.
With the recruitment crisis currently facing our industry, offering retraining or upskilling opportunities for the over-50s – who make up a large proportion of the workforce – is an effective way to foster a diverse and skilled team.
Exceptional experience
We’ve seen a much bigger focus on promoting a diverse workforce – including leadership teams – over recent years, but one of the facets that doesn’t get talked about so often is age. We should be embracing the many benefits that older employees can bring.
Not only can they share valuable life experience with their co-workers, but it’s likely that some of the skills they’ve gained in their previous roles can often be harnessed across various business organisations.
The value of lifelong learning
Regardless of age, apprenticeships are an ideal way for people to reskill or to build on the skills they already have, whether they’re new to a particular company or want to progress further. There are also many courses available for people in senior leadership roles who want to take on new challenges and expand the breadth of their existing job spec.
For years, apprenticeships have mostly been seen as an option for school leavers, but there’s no age limit on apprenticeships. Both employees and employers are increasingly recognising the benefits of training at any age, especially as our working lives are getting longer.
In fact, the over-50s tend to have a higher success rate in their apprenticeships than any other age group. Our research shows that apprentices in the over-50s bracket have seen a 15% higher pass rate than the 16–18-year-olds and have the lowest dropout rate of all age groups. They are also less likely to take a break in their learning.
We’re here to help
At EDN, we understand the nuances that come with learning at all ages, and that’s why we can point employers in the right direction, to ensure those aged 50 and over can reach their (limitless!) potential.
And when it comes to over-50s, those useful skills they’re likely to have picked up throughout their working lives could lead to shorter apprenticeships and therefore reduced costs for their employers. Our experience will enable you to navigate the various options available.
We can help you get to know what these valuable team members can learn, and which apprenticeship route will benefit them most.