How Apprenticeships Is Fostering Tyro And Revitalizing Economy

How Apprenticeships Is Fostering Tyro And Revitalizing Economy

When humans get trained they become a capital for the nation and get a novel name called ‘human capital’. Human as a capital is vital and that is the reason why every company has a separate department of human resource. Even in every country, there is one ministry assigned to this work. When a person gets skilled by training, they get hired and become a capital. In this way apprenticeships training are fostering the tyro to land in skilled jobs. Employing an apprentice has twin benefits; the first one- It gives opportunities to the neophyte to grasp knowledge practically and second- hiring an apprentice doesn’t cost much to the company. Thus it would not be wrong to say that recruiting an apprentice is a win-win situation.

Employing an apprentice is maintaining the workforces of the country as it is catering the greenhorn to make them professional. This is even supported by the government and that’s why there is a surge of the latest apprenticeship vacancies in India. It is acting as a source of capacity building and making the young ones capable to compete at the global level. Apprenticeshipslike ITI apprenticeship, electrical, mechanical, Information technology, patents etc are fostering novice to get job-oriented skill and get hired.

Apprenticeship jobs are not only augmenting skills of youth but also revitalizing the economy of the country. It is one of the paramount tools to extract the benefit of demographic dividend (demographic dividend is a situation occurs when the share of working populations exceeds non-working population). Let's have a look how skill training boost the economy of a country:-

●      When a person gets skilled, they get hired and thus get social security, which in turn enhances the standard of living of the person and his or her family.

●       This all indirectly impact the grown of a country and thus raise its economy.

●      Lets us take an example of India, more than 50% of the population is below 27 years of age. That means a large number of working people will going to boost the growth of the economy. Now India is at the position of enjoying the fruits of demographic dividend and this can only happen by providing apprenticeship to the youth.

●      Earning ensures better health protection of human capital, thus reduces the mortality rate, which serves the condition to work. This collectively boosts the economy of a country.

●      According to one study, India will have a surplus workforce by 2030 and this can attract more jobs, a decent growth of an economy.

In this way, apprenticeship training is acting as a formidable tool. Also, you have comprehended the nexus of apprentice and economy, how India can reap its benefit by utilizing its young population.

Now there are many training institutes where an individual can get training, these institutes are easily accessible via the internet. Online an individual can search for various apprenticeship vacancies and can do apprentice registration for the choice of training. There is a nationalapprenticeship portal which does the work to hire an apprentice to make this whole process smooth.