The British jobs market and business in general has been hit hard by the global Coronavirus pandemic and to move forward, investment in skills, young people and training is key. The government has proven their belief in this with their many incentives and opportunities, created to push recruitment, job options and training opportunities across the country. The Plan for Jobs gives employers many options for finding new employees and reaping monetary rewards, as well as the benefit of new talent. Here we’re looking at some of the options available to employers.
Incentives for Recruits and Trainees
The Plan for Jobs aims to help young people find work and gain experience, whilst also supporting employers. They want to create high quality jobs that can lead to rewarding careers with scope for development and skills acquisition. There are two main schemes which allow employees to benefit financially through recruiting someone who needs a step up to begin their career:
1. Kickstart Scheme
The new Kickstart Scheme provides funding for placements for 16 to 24-year olds currently on Universal Credit and struggling to compete in the difficult jobs market. The placements will last up to 6 months and funding will be provided to cover national minimum wage for up to 25 hours per week as well as National Insurance contributions and other employer enrolment contributions.
2. Traineeship Expansion
The government wants to expand the traineeship provision across the UK. They will provide employers with £1,000 funding per trainee, with a maximum of 10 trainees permitted per business. Traineeships allow the trainee to combine classroom learning and work experience and they are again open to 16 to 24-year olds who want to develop their first career.
Staff Skills Development
There is no reason a business can’t improve itself by upskilling the employees already working at the company. The range and variety of apprenticeship options and levels available make them a great choice for many types of business and apprenticeships could even be used to help employees develop in their existing role and be primed for promotion. The following government scheme support businesses looking to hold onto and improve the prospects of existing employees:
1. Job Retention Bonuses
The government will provide companies with a bonus of £1,000 for every furloughed employee who is continuously employed until the end of January 2021. This applies to employees who earn about the Lower Earnings Limit of £520. Staff returning from furlough can continue to work towards their career goals and will be motivated due to their continued employment in such trying times.
2. Apprenticeship Funding Options
There are different options to fund apprenticeships to suit different types of business. All levels of apprenticeship can be funded via the apprenticeship levy or through government co-investment. You can look into the best options for your business and use apprenticeships to upskill your existing workforce, as well as bringing in new team members.
Access Work-Hungry Apprentices
Apprentices are keen and work-ready, looking to learn and develop new skills. They are exactly the kind of employee a company should be looking for. In addition to this, government support and incentives for employers taking on new apprentices makes them a true investment for the future and a beneficial addition to your team.
Until the end of January 2021, businesses can receive £2,000 for every new apprentice under 24 and £1,500 for every apprentice over 25 who starts working with them. This is on top of the existing £1,000 incentive for training 16-18-year-old apprentices or those aged 19-24 who have been in care or have an EHCP in place.
The government is providing support for employers to help those most in need of work and most hungry to succeed and find their place in the world. You will soon see the benefits of bringing in younger, motivated employees as they reward you with loyalty, commitment and bringing new skills to the workplace.
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