IBAM Graduate Programme
IBAM can assist financial services institutions seeking an additional graduate sourcing strategy with our IBAM Graduate Programme (“IGP”), offering the following key benefits:
- Access to a wider range of high calibre graduates that have been pro-actively approached on behalf of the client (as opposed to those applying to traditional programmes).
- Bespoke training by SMEs who have proven experience in the specific business area in which the graduates are being deployed.
- Exchanging talent is easy – if a particular graduate is not working well on site, they can be exchanged for another on the IGP programme.
- Flexibility – the ability to hire these graduates on a non-permanent basis, typically on fixed term contracts which in practice often get extended.
- “Try before you buy” approach to permanent hiring – graduates sourced through a flexible short term contract model who fit into the client’s culture and are well-respected internally can be hired on a permanent basis at the client’s discretion.
Effective use of Apprenticeship Levy Vouchers
The Apprenticeship Levy, launched in April 2017 by the UK government, will see all employers pay a 0.5% tax levy on their total UK payroll to HMRC in order to provide an impetus into the apprenticeship market. This represents an opportunity to alter IBAM’s offering for UK based requirements.
The total value of the 0.5% payment will be returned entirely to the employer in the form of digital vouchers to be spent on the training of apprentices. From 2018 onwards, 10% of this balance will be available to be redirected to companies in the supply chain that provide apprentices to the business.
This permits IBAM to subsidise the real cost of graduates by charging separately for training in the form of digital vouchers. Currently, to hire an apprentice in the UK, their employment must adhere to an already existing government approved document so therefore apprenticeships are not largely different from employer to employer.
Working with the necessary contacts and departments to design a bespoke scheme based on each clients’ requirements, the IBAM Graduate Programme encompasses:
- Training: ensuring that the training providers are as prestigious as possible and that the training provided is either transferable as college credit hours, so that the candidates can get as close as possible to a degree without student debt initially, or that the training provided results in necessary professional accreditation.
- NAS: working with the National Apprenticeship Service to ensure registration and approval of the apprenticeship programme, its structure, its key aims and an existing realistic interest from employers.
- Funding: again working with the NAS to make sure that the programme is eligible for as many funding awards as possible to be used for the training of apprentices.
For more information on the IBAM Graduate Programme, please contact Francesca Whiteley.
Need more information? Contact us online using the information here or just call us on 020 3145 3333