Thursday 15th July
The Chancellor’s Plan for Jobs announcement in July 2020 offered a number of skills and training programmes some of which offer financial incentives, in recognition of skills development at the very heart of supporting the UK’s economic recovery.
A total of £1.6 billion will be invested in scaling up employment support schemes, training and apprenticeships to help people looking for a job. Young people, who are amongst the worst hit by the crisis, will benefit from this. This includes:
- Businesses will be given £2,000 for each new apprentice they hire under the age of 25. This is in addition to the existing £1,000 payment the Government already provides for new 16-18-year-old apprentices and those aged under 25 with an Education, Health and Care Plan.
- The new £2 billion Kickstart Scheme which will create new fully subsidised jobs for young people aged 16-24.
- An additional exciting talent planning route for your business could see a young person joining your organisation for a Kickstart placement then progress onto an apprenticeship with you. You would have access to the full range of financial support the government provides for apprenticeships.
- A £111 million investment to triple the scale of traineeships in 2020-21 ensuring more young people have access to high quality training.
- £17 million for funding to triple the number of sector-based work academy placements in 2020-21
- Nearly £900 million to double the number of work coaches to 27,000.
- Over a quarter of a million more young people to benefit from an extra £32 million investment in the National Careers Service so that 269,000 more people in England can receive personalised advice on training and work.
These incentives can help you to invest in your business, help people upskill and improve their chances of securing a good job in a?highly?competitive labour market, giving your business an edge to support your overall goals.
To learn more about the incentives available and how to apply, please contact the Skills Team today for tailored advice: https://www.gbslepgrowthhub.co.uk/skills-hub/contact