79% Employers Keen to Increase their Apprentices Intake in Q4 2023: The Rise of Apprenticeships in the Workforce

In the year 2023, the demand for apprenticeships is on the rise. Whether you're an employer or a potential apprentice, this blog will provide valuable insights into the exciting world of apprenticeships. 2023 is the year of the apprenticeship - The apprenticeship engagement has doubled to over 5.5 lakhs in the last 5 years. According to Teamlease's Apprenticeship Outlook Report, 79% of employers are keen on increasing apprentices in the year 2023. Additionally, considering the lucrative benefits offered by NAPS programs in India, employers are now increasing their intake of apprentices. Apprenticeship programs in India are getting directly compared with developed economies like Germany and others. It is gaining more credibility in India for the rate of unemployment and productivity in the Indian workforce. A study conducted by Dalberg for DFID (now FCDO) in March 2020, confirmed the cost-benefit ratio at 1.3 to 1.9 across different industries. Is Apprenticeship Worth It In Th...