Business Benefits of the South Dakota Registered Apprenticeship Program
Industry associations, higher-education institutions, organizations and other workforce intermediaries can be Registered Apprenticeship sponsors. A business can be a sponsor and manage all aspects the program, or partner with an established sponsor. The business provides a hands-on learning experience to the apprentice with a job and steady paycheck. The business may also oversee the structured learning, depending on the role of other program partners.
Business partners also benefit from the program with:
- Customized training that results in highly skilled employees trained to industry/employer specification
- Increased productivity and knowledge transfer due on-the-job learning from an assigned mentor combined with related technical instruction
- Enhanced retention - 87 percent of program completers in 2011 were still employed nine months after completing their apprenticeship.
- Emphasis on safety training that may reduce workers' compensation costs
- A stable and predictable pipeline for development of qualified workers - for every dollar spent on apprenticeship; employers get approximately $1.47 ROI
- Recognition of the training program
- A systematic approach to training to ensure employees are trained and certified to produce at the highest skill levels required for that occupation
- The ability to conduct a ready assessment of progress in terms of continuous improvement
- A proven training model that allows employers to set the benchmark and the structure that can determine the return on investment in training dollars