Employers feel apprentices offered them 100-150 percent returns on their investment and their productivity was as high as 90 percent, according to a report released by TeamLease Services.
Employers felt that apprentices did exceedingly well on all the three key parameters – productivity, time to turn and return on investment, that they look for in a talent. More than 50 percent of the employers reported apprentices to be giving them more than 100-150 percent return on their investment.
Further, around 50 percent of the respondents mentioned that apprentices turned productive within 45 days of joining work which is much faster than an average employee. Respondents also felt that the productivity of apprentices is around 90 percent indicating learning by doing to be an effective formula to create productive workforce.
According to the report while apprentices perceived their employability quotient to be a modest 5.3 on a scale of 10, employers gave them a rating of 8 indicating high ability to perform a job. From a region wise perspective, though apprentices from the northern region felt they were better equipped for job, corporates had a difference of opinion. They rated apprentices from the eastern region to be better suited for work.
Sumit Kumar, Vice President- NETAP, TeamLease Services, said, “Apprenticeships is the most effective skilling, employability, employment tool which could help India get closer to its ambitious targets of skilling 500 million and filling 120 million jobs in 24 key sectors (including construction, retail, transportation logistics, automobile, and handloom) over the next 6 years. While we may be able to create jobs, the biggest challenge is matching the jobs to our talent. Apprenticeship and MOOCs can not only positively impact the employment scenario; it can give a boost to the overall growth of the country.”