Giving apprenticeships a prodigious shot in the arm, two industry experts expound on the remarkable qualities of apprenticeships in enabling a largely lackluster Indian workforce to crossover to the realms of increased productivity and consequently a higher return on investment for employers. The case for training ‘one’s own’ has become clearer and stronger than ever before. For starters, ROI on apprenticeships can trump hurdle rates of 12-15% used by employers when appraising capex considerations.
So, why are apprenticeship numbers abysmal in India even after four amendments to the Act? Low employer engagement is one reason; what’s the other? Apprentices deliver three vital outcomes making them extremely attractive to employers- lower recruitment costs owing to a supply chain of skilled workers, reduced attrition, and increased productivity. And with much of the ‘regulatory cholesterol’ already dissipated it’s really up to employers to recognise and embrace the paramount value of apprenticeships to overcome India’s workforce development hurdle. Get the low-down from this thought provoking article.
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