Following the introduction of the Apprenticeship Levy, CEF has enrolled ten members of its UK finance team on a range of professional accounting qualifications as a result of the company’s use of the levy.
Located across a number of locations around the country, with five in its head office at Kenilworth and five other young professionals around the business, the CEF team will gain up-to-date knowledge in a learning environment.
Tom French, one of the new apprentice accountants at CEF, says, “I looked at university as a spring board to a professional career in accountancy. Having considered the advantages of combining learning with my role at CEF, acquiring real and practical financial experience as well as achieving exactly the same professional qualification without paying off student loans for the next ten years is certainly the right route for me.”
Employers with a wage bill of over £3 million fall within scope of the levy. Employers with a wage bill of under £3 million can access apprenticeship training under a different set of funding rules, with a maximum contribution of 10% of the apprenticeship cost required from the business and financial incentives to engage young people.
The Apprenticeship Management Group was formed this year to lobby on behalf of companies of all shapes and sizes and help them adjust to life during and after the levy has come in to effect.
John Henry of EDA Apprenticeships Plus, Apprenticeship Management Group, comments, “The early adoption of the levy by CEF is an ideal case study for other employers on how to use and benefit from the recent and progressive apprenticeship reforms. Not only will CEF continue to attract the best talent, but in addressing the specific skills requirements of existing colleagues both the business and the individual will benefit. With the rising costs of going to university, professional apprenticeships offer a debt-free and direct career route.”