Employer return on investment of T level industry placements in health and care
Key points
For every pound spent supporting a student £1.81 of benefit is returned to the organisation. This value does not include any added benefit that the student brings themselves whilst on placement. The return on investment increases if the student is deemed to be productive.
Benefit is gained from reduced induction costs, recruitment costs, improved staff retention and reduced temporary staffing costs leading to a positive ROI.
The report also does not consider wider benefits such as development opportunities for staff, anchor organisation ambitions or reduced unemployment which suggests the actual ROI, whilst hard to quantify, may be higher.
This report looks into the return on investment (ROI) of hosting T Level industry placement students in health and care organisations and was produced by Sue Howard and Associates with Gatsby Charitable Foundation.
Industry placements allow students the opportunity for a real-world workplace experience within an organisation. They last for a minimum of 315 hours (approximately 45 days) to develop practical and technical skills in a role directly relevant to their qualification. It is also an opportunity for employers to ensure students are developing the skills and experience needed for the sector, develop a talent pipeline into the organisation and showcase the breadth and depth of roles available in the NHS. Further information, guidance and a selection of case studies can be found on the NHS Employers T Level Hub.
Whilst a wide range of T Level subjects are suitable for the health and care sector, this report focuses on the ROI for the Health T Level. However, many of the associated costs will be applicable across a range of areas. The ROI was ascertained through a series of 1:1 and panel discussions with a group of subject matter/T Level experts. They examined each cost component that comprises the hosting of placements to understand overall cost and benefit for an employer
Employers can use the costing tool, developed to support this work, to generate their own estimate of their organisation’s ROI for hosting students. An understanding of the ROI can be used to develop a business case to support the introduction or expansion of industry placements and for senior leader engagement.
This report and the template documents were produced by the Gatsby Charitable Foundation; they are provided for download and adaptation by organisations to use in their own workplaces and contexts. Rights for use and onward sharing are outlined at the end of this resource.
To support the work of your organistation to understand and showcase the ROI of hosting T Level industry placements, The Gatsby Foundation have also produced the following documents that you can download and edit:
Employers who wish to share their reflections on this report are encouraged to join the Gatsby Charitable Foundation ICS Industry Placement Network, supported by NHS Employers, to learn from sector peers actively engaged in this field. Employers can expect practical support, new research, up-to-date policy insights, and a platform for meaningful dialogue.
Once you have used the tools the Gatsby Charitable Foundation would encourage you to share the results and any feedback with them in confidence.
