Lloyds Banking Group: how innovation leads to apprenticeship success

Aug 21, 2023 | Apprentices & school leaver, Case studies, Home Featured

Lloyds Banking Group explains its award-winning apprenticeship strategy that meets the changing needs of the business and develops the careers of apprentices.

Lloyds Banking Group’s apprentice strategy is driven by ambition and full of momentum.

We are constantly innovating to adapt to our evolving business, exploring ways to reach different audiences and reinventing our selection process to make it more inclusive.

Our approach won Best School Leaver Apprenticeship Strategy at the ISE Awards 2023.

Vision

Our vision is for our apprentices to reflect the communities we’re part of and we are pulling out all the stops to attract more diverse candidates than ever before.

We start over 350 new apprentices a year across 30 programmes, from cyber security and data analytics to audit and accountancy.

We also use apprenticeships for re-skilling and career progression, with over 80 customer-facing colleagues making the move into software engineering this year.

Our apprenticeships are about fostering a positive, inclusive experience. Apprentices join in a permanent role from day one and are supported with a carefully designed learner journey.

Bringing strategy to life

Our strategy supports each stage of the apprenticeship journey.

Attraction

• Improving accessibility

We’re working with careers hubs to identify schools that need more support in areas of social deprivation. We’ve created opportunities like our World of Work Experience and Lloyds Careers Live to reach everyone, regardless of location or background.

• Skillsbuilder partnership

We supported 3,200 students from primary to secondary schools through this programme in 2022. We have grown considerably in our reach in 2023, building understanding and application of essential skills as well as an introduction into the world of work.

• Targeted initiatives

Focusing on particular occupations, we created bespoke programmes, including a new T level student pilot placement programme and an all-female virtual bootcamp for aspiring software engineers.

Selection

Our approach to selection is every bit as progressive. We have removed unnecessary entry barriers to promote social mobility and neuroinclusivity. This includes creating assessments based on strengths and potential.

Onboarding and engagement

Our apprentices are fully supported through many activities:

• Full stakeholder support through, mentors, SMEs, buddies and line managers
• Completion of the ‘Business Challenge’ to build networks and develop key skills
• Competing in the ‘World Skills’ competition to develop skills and network with other specialists
• Experience of the ‘Three Days a CEO challenge’, where an apprentice spent three days with CEO Charlie Nunn to develop a better understanding of each other’s roles
• Apprenticeship ambassadors – true champions of apprentices, these individuals highlight opportunities and share their experience. We increased the number from 150-300 to increase the impact.

Positive impact – for the company, our apprentices, and the future

The positive results for our apprentices and for Lloyds Banking Group continue to grow.

Last year we received over 17,000 applications for the 218 apprenticeships available. Of those we recruited, 47% were female in tech dominated roles and 26% were from Black, Asian and minority ethnic backgrounds, exceeding our goal to recruit a more diverse cohort.

This positive demand in 2023 resulted in an increase in new apprenticeships by 63% to 357 and T Level placements twelve-fold to 72.

The support our apprentices receive during the programme is what really sets our results apart.

In 2022, 51% of our apprentices achieved a distinction. The majority (86%) said they were proud to work at Lloyds Banking Group. Plus, our apprentices are 60% more likely to be promoted than other colleagues.

All in all, a tangible success which we plan to build on during 2023 and beyond.

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