Congress have taken under consideration a multi-billion-dollar expansion of apprenticeship programs to meet workforce shortages. The potential passing of this program could generate a potential jump in demand for apprenticeship software for compliance, time, and applicant tracking and other apprenticeship management tools. Registered Apprenticeship programs are a proven successful training model that help to combine both on-the-job training with a classroom work experience and will be pivotal in the rebuilding of the skilled worker talent pool.
“Congress does increase apprenticeship program funding, it may jolt the niche market of apprenticeship software providers, said Trevor White, an analyst at Nucleus Research. The major HR vendors will either expand or add apprenticeship software capabilities to their own product line or offer support of third-party vendors to make their use more plug-and-play, White said. White also said he believes user demand will drive HR vendors to act. For employers, "if I can address both my staff shortages and then also get money from the government to do it, it's a no-brainer for the end-user organization," White said.”
The United States continues to trail behind other major nations when it comes to their apprenticeship program infrastructure but many believe that this influx in new funding for expansion as well as the evolution of the modern apprenticeship will help to boost participation as well as start to eliminate the current skilled worker shortage.