Benefits of Apprenticeship
There are many incentives for apprentices to participate in an apprenticeship as well as for employers to hire apprentices:
- Apprenticeship is a tried and true method of recruiting and maintaining talent
- Apprentices become journeypersons with better safety performance, greater overall productivity, and fewer mistakes
- Apprentices learn from their employers how business is conducted first hand
- Apprentices and employers participating in an apprenticeship program will ensure employees are trained to Provincial and industry standards
- Apprentices and employers of apprentices have access to numerous government grants, tax credit and special incentive programs. Red Seal trades offer more financial incentives when compared to non-Red Seal trades.
- An apprenticeship program allows employers to have a pool of experienced workers of different ages to mentor new apprentices.
- Employers that hire and train apprentices will foster a relationship built on growth and personal development, resulting in a stable workforce.
- Skilled trades workers are rewarded for their efforts with good pay. According to Statistics Canada, the wage gap between workers with bachelor degrees and trade certificates is declining. Between 2000 and 2011, the average weekly wages of full-time workers aged 25 to 34 with trades certificates grew by 14%, while bachelor degree holders saw their wage growth slow to 1%. And, apprentices begin to make money right away, earning a wage from their first day at work.
- Apprentices “earn while they learn,” and therefore significantly reducing student debt loads. University undergraduates left school with an average debt load of $25,000 in 2005, with much higher rates of debt in the Eastern Provinces. In 2014, average Canadian student debt estimates hover in the mid- to high-$20,000 range. The Canadian Federation of Students pegs it at $27,000. As paid employees, apprentices are generally able to cover their costs without substantial student debt.