Is apprenticeship the future or employability?

Apprenticeship, an apt solution

Is apprenticeship the future or employability?

National Employability through Apprenticeship Program [NETAP], India’s largest degree apprenticeship program from TeamLease Skills University has announced that there has been a surge in the intake of apprentices across India even during the COVID 19 pandemic, with the FY20-21 hiring increasing by 35%. Mr Sumit Kumar, Vice President – NETAP, TeamLease Skills University, said that, with India lacking skilled talent, apprenticeships can provide the solution to the problem of unemployment in India. “We are already able to see results. Apprenticeships linked higher education, degree apprenticeships etc. were the leading causes of the spike in hiring”, he concluded. Read more.

Companies to get more flexibility in apprentice hiring with the new amendment in the Act

The Apprenticeship Act might undergo another amendment during the monsoon session of the Parliament. This will increase the scope, provide inbuilt flexibility, and enable companies in apprentice hiring. Small and micro companies operating in a cluster will be able to hire jointly and deploy apprentices through the amendment. It will boost the apprentice staff ratio from 10% to 15% for employment. The union budget primarily hopes the amendment will enhance apprenticeship opportunities for the youth. In related news, TeamLease Services has observed an increase in apprenticeship hiring in sectors such as healthcare, pharmaceuticals, IT-enabled services, banking and financial services, and e-commerce. Read more.

Surge in hiring due to apprenticeships

Sectors like automotive, retail, logistics, pharma and healthcare and banking, financial services and insurance (BFSI) have increased their apprentice hiring. The surge in hiring took place even during the COVID-19 pandemic. The hiring continues to spike by approximately 40 per cent since April 2021. The average stipend pay-out per apprentice also increased by 18 per cent in 2021. NETAP has paid out Rs 2,700 crore worth stipends since 2014. Apprenticeship has helped 95 per cent of the certified apprentices to get formal employment. Today NETAP has 500 employees from varied sectors spread across over 3,500 locations. NETAP is featured in Zee business, India and United News of India. Read more.