In light of the upcoming increase in the National Minimum Wage (NMW), particularly for employees aged 21 and above we wanted to bring to your attention some exciting opportunities for businesses to make significant savings on Employer NI Contributions

 

As businesses navigate these challenging times, absorbing an additional cost of approximately Β£2000 per employee can pose a significant challenge. However, there’s a strategic and cost-effective way to not only offset these increases but also invest in the growth and development of your team.

 

Government-Funded Training Programmes (apprenticeships): A Win-Win Solution

 

Key benefits of engaging with government-funded apprenticeship training programmes are:

  • NI Contribution Savings: For the entire duration of the training programme, if your employee is under 25, you’re exempt from paying the employer NI contribution. This translates to a considerable saving, surpassing the impending NMW increase.
  • Investing in Employee Growth: Beyond the immediate financial benefits, these programmes offer a unique opportunity to upskill and empower your team. Investing in your employees’ development not only enhances their skills but also contributes to a more engaged and motivated workforce.
  • Creating a Sustainable Workforce: By participating in training programmes you are not just saving money, you’re building a sustainable and adaptable workforce. Trained employees are better equipped to contribute to the success and resilience of your business in the long run.
  • Tailored Training Solutions: Government-funded programmes often provide tailored training solutions that align with the specific needs of your business. This ensures that the skills acquired directly benefit your operations.

For more information and to speak to one of the team CLICK HERE