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Exploring the benefits and costs of an industry placement

This article summarises the costs and benefits that employers have been reporting as they start to offer industry placements.

If you want to analyse and consider in more detail the context of your own organisation, you can use the Exploring potential benefits and costs document as a guide.

Benefits

Recruitment

  • Grow your talent pipeline
  • Attract a new generation of recruits from new sources
  • Tackle skill shortages
  • A chance to see potential future recruits using their skills and abilities
  • Streamline recruitment processes

Skilled hands to support productivity

  • Students bringing in skills for specific projects and tasks
  • Support for growing teams
  • Young people with new skills coming into your industry

New ideas

  • Fresh eyes
  • New skills
  • Up-to-date learning
  • Innovative work practices
  • Increased creativity
  • Influencing learning for young people entering your industry

Reputation

  • Among potential new recruits and more widely
  • Demonstrate a commitment to diversity
  • Create case studies to promote your credentials as a good employer
  • Promote your record as a learning and development organisation

Staff development and satisfaction

  • Opportunities for your staff to be buddies, mentors or line managers
  • Opportunities for staff to gain new management and mentoring skills
  • Your people feeling valued, challenged and developed
  • Diverse teams with students who liven up the work environment

Brand

  • Become recognised as being innovative and forward-thinking
  • Be seen to be addressing critical issues
  • Raise your profile with customers, as industry placements become well known

Build relationships in the community

  • Get to know local colleges, schools and other providers
  • Network with other employers to share placements experience and good practice

Costs

Time

  • Investment of time to plan and arrange the placement
  • Investment of time to understand industry placements and t levels
  • Investment of time in relationship-building with the colleges or schools
  • Allocate staff time to support and supervise the student

Training and supervision

  • Investment in induction, health and safety and basic training for the student
  • Investment in mentoring and coaching, to support successful completion of learning goals

Payments to students

  • Paying a wage is not mandatory, but you may wish to offer a wage or allowance to incentivise and motivate the student
  • Travel and subsistence is also not mandatory but you may wish to offer it

Space and equipment

  • Cost of a place for students to work safely
  • Cost of computer equipment and other technologies
  • Cost of necessary uniform or personal protective clothing
  • Cost of specialist equipment or tools

Insurance and legal

  • Employer liability insurance if this is not already in place
  • Costs of disclosure and barring (DBS) checks if needed
  • Costs of support for students with special educational needs or disabilities if required

Explore the benefits and costs in your organisation

Document summary

This document will help you to consider the benefits of offering industry placements.

Key information

Published by: Department for Education

Length: 5 pages

 

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