In today’s job market many companies are facing a need to fill skilled positions though many of their applicants’ qualifications are falling short, Adding on top of that the recent exposure of the skilled worker shortage the demand for skilled workers has increased significantly. States like Colorado have seen success with in-house apprenticeships that focus on helping participants learn as they work while simultaneously building talent pipelines and promoting employee retention. Programs like Denver-based insurance company Pinnacol who launched in 2017 have shown Colorado that apprenticeships are a viable way to build a workforce and create a talent pool as apprentices now make up around 20 percent of Pinnacol’s workforce.
“In many cases, today’s lack of skilled workers stems from technology advancing much faster than the educational landscape. But if you wait for higher education to catch up, it may be too late. With an apprenticeship program, companies proactively create the workforce they need and establish connections with younger workers in an environment of success.”
From The Colorado Springs Bussiness Journal
Apprenticeship programs allow companies to be more adaptable to the changing environments of their industries as well as help them to meet the needs of their workforce for now and the future. Through apprenticeship programs, apprentices gain a pathway to a well-paying career but employers also benefit immensely through eliminating staffing problems as well as increasing productivity with the implementation of in-house training programs. Many Colorado employers have reaped the long-term benefits from their programs including no recruiting fees, lower training costs, and new hires with much higher productivity rates. Some other advantages of apprenticeships they believe to be extremely valuable are the development of mentoring and coaching skills while also putting aside more time to focus on other more advanced tasks.