The rise of the national minimum wage and the apprenticeship minimum wage have become a pivotal topic within the labour market, sparking discussions on economic growth, worker welfare, and business sustainability.
Apprentices will see an 18% increase to the minimum hourly wage this year. From £6.40 to £7.55 an hour in April 2025.
How does this affect our employers?
There are negatives attached to a rise in minimum wage, including changes to hiring decisions, regulation changes and overall cost. However, the benefits moving forward are worthy of acknowledging. Higher wages will make apprenticeship programmes more attractive to potential candidates, increasing the pool of skilled workers. Furthermore, grants and funding for apprenticeships are available employers, that can help subsidise the increased cost.
Nottingham College can provide support and advice around apprenticeships that will help businesses adapt to labour market challenges.
