In support of higher degree apprenticeships, Winning Moves launched a new benchmarking tool to benchmark the productivity of businesses and their apprenticeships at an event at Harper Adams University.
Anecdotally, it is suggested that each apprentice employed results in an immediate increase in productivity of more than £10,000. The benchmark tool will evidence this value by providing a means of objective measurement. A minimum of 50 participating businesses will be benchmarked annually for the next 5 years, providing a true picture of productivity gains over time, both individually and collectively for all businesses involved. Our new instrument will measure current levels of business productivity, as well as assess the drivers of the performance levels being achieved such as quality, customer service, training and innovation.
Productivity is closely linked to national competitiveness and living standards and high on the UK government’s agenda. Because the UK has lagged behind other developed nations on productivity for many years, there is growing determination to raise the profile of this performance marker and drive productivity higher. While productivity is often measured at the local and regional level, Winning Moves’ new tool will enable it to be measured and understood at an individual business level as well. Once businesses understand where they stand currently, they can take informed steps to improve their productivity.
“Winning Moves is very pleased and proud to be involved in such an important project from the start,” said Mark Modena, who is leading the development of the tool. “Higher level degree apprenticeships can make a real and positive difference to the competitiveness of businesses that participate with them. We look forward to playing our role in helping businesses to understand their productivity better and to gain an objective view of the difference that apprenticeships deliver.”