Eaves Machining of Manchester has established its own ‘Apprenticeship Bank’ where it saves £20 per week on behalf of each apprentice for the duration of their time with Eaves, and then gives the young person the money saved when they have finished their apprenticeship, to give their future plans a helping hand.
The bank scheme starts the moment an apprentice joins the company, usually aged 17, and lasts until they reach 25, by which time over £8,000 plus interest will be available for them.
Ian Griffiths, CEO of Eaves Machining, explains that the bank project is a further incentive to the region’s top apprentices to work with Eaves as it expands its international engineering capability: “Eaves has a good reputation for hiring the very best apprentices, but we need to cast our net wider now as we have major investment and expansion plans. This is about attracting the best and investing in them over and above the norm.”
“We are investing £millions in new machines and pushing our overseas sales, so we need to develop the next generation of world class engineers.”
He added: “This is extra money on top of their wages to give our hard-working young apprentices a helping hand when they reach their mid-20s, a time when many are thinking of buying a house or something major.”
