NSAFS calls for greater apprenticeships in financial services


National Skills Academy for Financial Services

  • Employer engagement is required to break down misapprehensions
  • Apprenticeships underutilised in proportion to the size of the sector

This National Apprenticeship Week, Nigel Benton, Executive Director of NSAFS, calls for the financial services industry to invest more in apprenticeships.

"Apprenticeships are essential for building skills and provide an important route into the financial services industry; they have the potential to reenergise financial services recruitment and develop a workforce that represents the diversity of its customer base.   Moreover, apprenticeships help companies add a high quality training framework to their existing procedures and recruit a new generation of able young people who will form the talent of tomorrow.

"Despite this, apprenticeships are underused in financial services compared to other sectors.  The NSAFS believes that the key to increasing apprenticeships in the sector is to address misconceptions about apprenticeships and demonstrate their tangible financial benefits. The NSAFS works closely with leading financial services companies to overcome barriers to implementing apprenticeship schemes.

"Financial services contributes £124 billion to the UK economy each year. Through apprenticeship schemes, employers can ensure a diverse and representative workforce participates in this important sector."