Perrys Group has blamed cost pressures including the apprenticeship levy, pension costs and a higher minimum wage for a set of 2017 annual financial results which showed a 65.7% decline in profit before tax.
A lack of understanding of the career opportunities offered by automotive apprenticeships and young people’s ability to learn on the job is leading to a lack of parental encouragement, the IMI has found.
The continued decline in the uptake of apprenticeships has prompted business chiefs to suggest that the Government’s target of creating three million new apprenticeships by 2020 “does not look possible”.
The Institute for the Motor Industry has called for a more pragmatic approach to apprenticeships after concluding that the Government’s Apprenticeship Levy remains “too complex, restrictive and inflexible”.
The IMI has claimed that a combination of confusion surrounding the Apprenticeship Levy and the “increased administrative burden” it placed on employers could be to blame for a 26.5% decline in new apprentices.
Lookers became the only national motor retailer in the UK to be entered into Centrica’s Top 100 Apprenticeship Employers listings as it was recognised for “making a difference to the lives of their apprentices”.