Insights

People Leave Due to Lack of Diversity and Upskilling

Onramp is excited to announce our acquisition of Edlyft’s Intern Development Program to strengthen our mission and extend our impact.

The pressure on companies to hire the talent that will help their organization grow and succeed is greater than ever, but finding the right candidates is also more challenging than ever. Companies who are looking to hire, and scale, their engineering teams are facing these challenges acutely. 

Hiring for engineering roles: 

  • Takes a long time — in fact it’s some of the longest in the industry, according to LinkedIn
  • Is expensive: Replacing a technical employee can cost 100 to 150% of their salary when you factor in the time and money spent on recruiting, interviewing, onboarding, and training. 
  • Is not guaranteed: The tech industry has a turnover rate of 21.3% a year and can be higher in high-growth startups. 

With many employers competing for top engineering talent that is a good fit for their team, “traditional” recruiting and hiring processes are no longer delivering the results they need. Apprenticeships are a proven strategy that enable companies to develop, hire, and retain diverse talent. 

What is an apprenticeship? 

An apprenticeship is an industry-driven training program that enables companies to train and develop new and current employees on the job. Apprenticeships enable employees to gain relevant experience and develop the specific skills an employer values. They also have the added advantage of immersing participants in company culture and work processes. 

Apprenticeships may be structured slightly differently depending on the industry, but include the following elements

  • Paid job
  • Work-based learning
  • Classroom learning  
  • Mentorship
  • Credentials 

Apprenticeships are also growing in popularity. The number of programs has grown by 70% in the last decade and more than half a million Americans have participated in an apprenticeship program in the past three years.  

How can an apprenticeship help you address hiring challenges? 

With a focus on closing the gap between the skills companies need and the skills a diverse group of candidates have, apprenticeship programs help you build a more diverse, equitable, and inclusive workplace. They enable new and existing employees to develop the targeted skills they need to succeed and grow at your company, thus addressing the challenge of sourcing mid-to-senior level talent. An apprenticeship program can:   

 

  • Deliver a skilled workforce by training employees in the specific skills, technical stacks, and work processes they need to know to add value to your company from their first day on the job.

  • Enable you to source, recruit, and hire more diverse talent. Apprenticeships enable employers to look beyond hiring methods which fail to deliver and support a diverse candidate pool, such as those that screen candidates by degree or previous work experience. 

  • Increase your hiring velocity and pipeline. Apprenticeships vary in length, but can enable you to significantly increase your pipeline within three months to a year. Considering it can take six-to-nine months to fully onboard a new employee, apprenticeships can be a fast track to employee productivity and growth. 

How to retain great employees

Apprenticeship programs don’t just enable you to hire qualified, diverse candidates, but also to retain them. Employees are leaving their jobs because they don’t feel valued at work, see little potential for training or advancement, and do not feel a sense of belonging according to McKinsey. Apprenticeships foster workplace culture and give employees and new hires a chance to grow their skills and understand what they need to succeed. Retention rates for apprentices once they finish a program are high — around 94% in one example

The current hiring environment demands creative solutions and fresh, strategic approaches. Launching an apprenticeship program enables you to bring in new and upskill existing talent, leading to an expanded, engaged, and more experienced team. 

To learn more about how Onramp custom designs apprenticeships to help you and your team recruit, hire, and retain a diverse workforce and grow your candidate pool of mid-level technical talent, reach out to us today. 

Written by
Jean-Pierre Barthelemy

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