Posted: Wednesday, 15 July 2020 @ 15:50
If you didn’t tune into the announcement today from the government, it spells good news for businesses looking for support to develop their talent pipelines.
- Organisations offering Traineeships opportunities to receive £1000 grant
The Traineeship Scheme is an extended work experience programme that can last from 6 weeks to 6 months aimed at teaching young people valuable workplace skills. For the first time the government has pledged to provide an £1000 grant for each trainee a business takes on (capped at 10 per Employer).
Traineeships are fully funded by the government and Intec offer a FREE Trainee Recruitment Service and sector specific training for each Trainee. Once the programme is concluded Trainees can progress onto an Apprenticeship, recruiting young talent that will compliment your business and help you build a strong future.
- Up to £3000 incentive to recruit Apprentices
The government are looking to Apprenticeships to to drive the recruitment of young people. Currently organisations receive a £1000 grant for any Apprentice employed aged 16 -18 and pay no national insurance on Apprentices aged under 25.
From August new measures add to this incentive. Employers will additionally receive £2000 for any Apprentice aged 16-24 and £1500 for any Apprentice 25+ recruited into an organisation. There will be no limit on the number of incentive payments that an Employer can claim for Apprentices eligible to receive funding, provided each Apprentice meets the criteria, including being a new employee.
Employers are able to claim for any Apprentices taken on from 1st August until the 31st January 2021.Claims can start to be made by Employers in relation to these Apprentices through the Apprenticeship Service from 1 September 2020.
Find out about the benefits of recruiting an Apprentice and our free Apprenticeship Recruitment Service.
- £1000 for each person brought back off furlough and launch of new Kickstart scheme
A NEW Job Retention Scheme has been announced, with Employers promised a £1000 incentive for every employee brought back off furlough and retained in consistent employment until January 2021.
The Kickstart Scheme is aimed at creating new jobs for those furthest from the job market. However, there are likely to be restrictions on the scheme and you will be unable to use it in conjunction with Traineeship and Apprenticeship programmes.
- Financially what does this mean for employers?
Running a Traineeships scheme: + £1000 grant
Recruit a young Apprentice: + £3000 grant (if recruiting 16 -18 year old)
The Levy and existing government funding remains unchanged, so smaller Employers will receive either receive partial (95%) or full funding from the government for the cost of Apprenticeship training.
These measures, whilst temporary, mean that businesses can look to the government and training providers to provide support as they re-enter the workplace and rebuild.
To find out more how these measures can support your organisation Contact us or call Freephone 0808 100 1155 for further information.