Large organisations with an annual pay bill of more than £3 million contribute to the apprenticeship levy each month. This contribution is set at 0.5% of the total pay bill and can then be used to fund apprenticeship training for both new and existing staff. Levy contributions are collected on a “use it or lose it” basis, with each monthly payment expiring after 24 months if not used. Walbrook can provide expert advice and guidance to help you make the most of your levy.

Funding for smaller employers

Smaller businesses with a pay bill of less than £3 million can access the government’s co-investment model. Under this scheme, the government covers 95% of training costs while the employer funds just 5%, spread evenly in monthly instalments across the duration of the apprenticeship. For those recruiting apprentices aged 16-22, the government will cover 100% of the training costs, making the programme entirely free for the employer.

Additional employer incentives

There are further financial benefits for employers who take on apprentices. For apprentices under the age of 25 and earning less than £50,270 per year, employers are exempt from paying Class 1 National Insurance contributions. For example, an apprentice with a salary of £25,000 would generate an annual saving of around £3,000. In addition, employers receive a £1,000 government grant for every apprentice who is aged 16–18 at the start of their programme.

Business value and return on investment

Apprentices are given exposure to day-to-day tasks within the workplace, ensuring that learning is applied directly in practice. Walbrook’s programmes are designed so that the order of learning mirrors the needs of the business. This means that the knowledge delivered is quickly reinforced by practical tasks, with competence building at each stage of the journey. As a result, your business begins to see value and return from the apprentice’s contribution throughout the programme, not just at the end.

Employment contracts

Apprentices should be employed on a contract that covers the full duration of their apprenticeship, including the End Point Assessment period. It is not recommended to include a probation period within this contract, as the apprenticeship represents a firm commitment by both parties. However, this does not mean underperforming apprentices must remain in post – Walbrook supports employers by monitoring behaviours, knowledge, and skills acquisition throughout the programme. Many employers choose to offer an “apprenticeship contract” on a fixed-term basis for career starters, with the option of converting this into a permanent role upon successful completion.

Protected study time

All apprentices are entitled to protected study time, known as “off-the-job training.” On average, this amounts to around six hours per week across the duration of the programme. Off-the-job training may include online study, workshops, assignments, seminars, shadowing, or one-to-one sessions. Walbrook works closely with employers to set out a clear plan from the outset, ensuring that this requirement is met without disrupting business needs.

Workplace mentoring

Every apprentice must be assigned a workplace mentor, which can be a single individual or several mentors responsible for different aspects of the role. Apprentices usually begin by shadowing their mentor, learning key tasks and processes. Over time, the mentor steps back to allow the apprentice to take responsibility, before finally confirming their competence. This structured approach helps apprentices grow steadily in skill and confidence, while ensuring quality and consistency for the employer.

Why it matters

Taking on apprentices is more than a way to fund training or reduce costs – it is a strategic investment in the future of your business. By developing young talent and supporting existing staff through structured qualifications, you create a pipeline of loyal, highly skilled professionals who understand your culture and are committed to your success. With progression routes all the way to degree and chartered status, apprenticeships not only deliver immediate value but also help you build long-term stability and leadership within your organisation.

To find out more please contact Sally Plant (Relationship Director - Financial Services, LIBF) to book a 15-minute call with LIBF, click here 

To create an Apprenticeship Listing on Future Financial Adviser please click here