Today, apprenticeships are instrumental in shaping the future of the UK property sector, yielding significant benefits, addressing skill shortages, promoting diversity and enhancing economic growth, Charlotte Bradley, Head of HR, writes for BE News.
They address critical skill shortages, drive economic growth, and promote a diverse and inclusive workforce. By investing in apprenticeship programmes, the property industry not only enhances its talent pool, but also contributes to building a resilient and dynamic sector, poised to meet the challenges of the future.
Despite the evident benefits, the property sector faces challenges in maximising the potential of apprenticeships. Why is real estate missing out?
Contrary to popular belief, there has been a recent decline in apprenticeship starts among young people. Data reveals a decrease in apprenticeship uptake overall, with numbers falling by over a third in the past decade. At Workman, we believe apprenticeships are a valuable part of the journey towards moulding a future generation of business leaders.
Workman regularly recruits apprentices in a variety of locations across our network of 11 UK offices. This not only gives us access to the best talent but also means that we receive applications from people from all sorts of backgrounds, whether a local college specialising in STEM skills, or older career-changers who are looking for a new direction, but not necessarily relocation.
Workman currently employs 12 MRICS-qualified surveying apprenticeship alumni within the firm, and a further 49 in-progress apprentices across various divisions, including property management, building and project consultancy, accounting and HR. This is approximately 8% of our workforce.
Our apprentices are included in meaningful work, encouraged to participate in client meetings, and supported with a clear framework schedule that allows them to gather practical experience, while completing academic work on one designated day per week.
Reaping the economic benefits
These apprenticeships not only provide individuals with valuable career opportunities but have also contributed to the company’s growth and service excellence – and profitability. For example, a number of past and current apprentices have been individually highlighted by our clients as delivering outstanding service on their portfolios. Perhaps their hunger to progress is greater, or – conversely – perhaps people’s expectation of what a well-supported apprentice can achieve is unduly low. Either way, the bottom-line results and client feedback certainly indicate that the investment in our time is well warranted.
Government acknowledges the importance of return here too and, recognising the critical role of apprenticeships in the property sector, has launched initiatives to bolster apprenticeship programmes.
Investing in apprenticeships yields substantial return on investment for both employers and the broader economy, with research by the Department for Business, Innovation and Skills (BIS) showing that for every £1 invested in a Level 2 apprenticeship, there is a return of £26, increasing to £28 for Level 3 apprenticeships.
Additionally, the UK government’s apprenticeship service reports that employers gain, on average, between £2,500 and £18,000 per apprentice during their training period. These figures highlight the substantial economic benefits of investing in apprenticeships – a return on investment underscores the value of apprenticeships in fostering economic growth.
Employers benefit from a pipeline of talent that contributes to increased productivity and innovation. Moreover, apprenticeships can lead to a net gain for employers during the training period, with apprentices often delivering outputs that surpass their associated costs. This positive impact is further amplified once apprentices complete their training and continue to contribute to the organisation, in turn training a new cohort of colleagues – as we have consistently seen at Workman.
Promoting diversity and inclusion
Apprenticeships play a pivotal role in enhancing diversity within the property sector. By offering alternative pathways into the industry, apprenticeships can attract individuals from varied backgrounds who might not have pursued traditional academic routes.
This inclusivity enriches the talent pool and fosters a culture of innovation and varied perspectives. For instance, initiatives like the RICS Inclusive Employer Quality Mark encourage firms to adopt inclusive practices, ensuring that the profession reflects the diverse society it serves. Such efforts are crucial in challenging stereotypes, promoting a more inclusive industry, and ensuring the sector benefits from diversity of thought, and creativity in its approaches.
Addressing skills shortages
Embracing apprenticeships to nurture talent and address skill shortages is a clear step to future-proofing a workforce that is both skilled and diverse, enhancing the firm’s service delivery and client satisfaction.
In recent times, the UK property sector has been grappling with a notable skills gap, particularly in surveying and construction roles. The Construction Industry Training Board (CITB) recently highlighted the necessity for an additional 251,500 construction workers by 2028 to meet industry demands.
Apprenticeships serve as a strategic solution to this challenge by facilitating the development of a skilled workforce tailored to the sector’s specific needs. By combining on-the-job training with academic learning, apprenticeships ensure that individuals acquire both practical experience and theoretical knowledge, effectively bridging the skills gap.
Challenges and the path forward
The statistics indicating that apprenticeship numbers have been dropping for a decade is concerning. This is a nationwide matter, but I firmly believe that it could be time for the real estate sector to lead in turning the dial. It is imperative that we raise awareness about the opportunities that apprenticeships can offer, and dismantle misconceptions that may deter potential candidates. Collaborative efforts between educational institutions, industry stakeholders, and government are essential to promote apprenticeships as a viable and rewarding career springboard.
Charlotte Bradley is Head of HR at Workman
