It has been announced by the government that employers are now able to apply for a £1,000 bonus cash boost in order to encourage and aid hiring new trainees. This new scheme is set to support hopeful young people in gaining the skills and experience that are necessary for the job role from the beginning, in hopes that this will result in many obtaining jobs, apprenticeships or pursuing further studying.
The new cash-boost is only available until July 31st, 2021, and will provide help to businesses with costs of providing a high quality environment for trainees. This can also cover the costs of necessities such as uniforms, facilities, and even travel costs.
The businesses that are offering new traineeship opportunities will receive £1,000 for each trainee they take on with a limit of up to 10 trainees, this therefore means that the maximum cash bonus is £10,000. This can be claimed for all work placements that have been completed since the beginning of September.
The cash-boost scheme has seen significant success with already aiding roughly 120,000 young people beginning the journey to a great career since 2013. In recent research 66% of trainees have been offered jobs, apprenticeships, or the opportunity to further study within the first 6 months of completing their program. This boost will also provide a support system for national businesses who have job roles waiting to be filled, as well as boosting productivity in young adults.
The trainee programs tend to last between 6 and 12 months, and focus on enhancing or developing key skills, and experience required for their given job role.
Since 1992, D E Ball & Co Limited has been an independent business advisory service based in Telford, Shropshire. With their advisors working with businesses in the agriculture, services, construction and retailer sectors, they have a broad span of knowledge to offer. To see find out more about D E Ball and the cash-boost scheme visit: https://www.deball.co.uk/