You can take the same approach to performance management, misconduct, dismissal, etc. with an apprentice as you would any other employee provided they are engaged on the correct contractual documentation. Similarly, apprentices are entitled to holiday pay, sick pay and maternity/paternity/adoption/shared parental leave subject to the usual qualifications.
However, if an apprentice is working under a contract of apprenticeship then dismissing them before their fixed term contract ends is high risk. See can I dismiss an apprentice during their apprenticeship below.
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