Businesses to now receive up to £4000 for every new apprentice hired before January 2022.
In July 2020, the government announced new incentive payments for employers to encourage the recruitment of new apprentices. Originally planned to end on 31 January 2021, the incentive payments have now been extended for a fourth time to January 2022.
The amount each business will receive for every new apprentice hired also increased to £3,000 from April 2021. With the existing £1000 incentive for taking on a 16-18 apprentice, this now means businesses will receive up to £4000 per apprentice recruited.
The news is being welcomed by Julie Tegg, Director of Employer Training at Gloucestershire College.
“The increased financial support available for businesses announced as part of the government’s Plan for Jobs, is great news for Gloucestershire businesses who are already bucking the national trend and continuing to back local talent and bring apprentices into their organisations, despite the challenges brought about by COVID-19.
“It’s particularly good news for those employers looking to take advantage of the redevelopment of our Cheltenham campus for IT, Cyber and Engineering which opened earlier this year”
What is an apprenticeship?
Apprentices are full-time employees who work alongside other staff members whilst gaining job-specific skills. Apprenticeships allow anyone aged 16 or above to build the skills and knowledge needed in their chosen career path and will also lead to nationally recognised qualifications. Ranging from entry to degree level, there is no limit to what can be achieved through an apprenticeship.
What is required from employers?
• Full-time employment of the apprentice for the duration of their apprenticeship
• National apprenticeship minimum wage must be paid to any apprentice hired
• 20% off the job training – this could be day release, block delivery in college or online training depending on the apprenticeship programme
What are the benefits for employers?
• Receive an incentive payment from the government of up to £4,000 for each new apprentice hired before 31 January 2022.
• Gain a loyal and enthusiastic employee who will bring fresh new talent and ideas into your organisation
• Shape the development of apprentices to meet the needs of your business as they grow and train
• Apprenticeships are a great way to build the talent pipeline of your organisation and fill skill gaps
How are the apprenticeship incentives paid?
To claim the incentives, employers need to set up an online Apprenticeship Service account and request the payments. The money will be paid directly into their business bank account.
To recruit an apprentice and claim up to £4,000 get in touch with our Business Hub team at Gloucestershire College
Hiring an apprentice is the same as hiring an employee. Employers have the final say on who they recruit and the team at Gloucestershire College can even help you advertise the vacancy for free.
Our Business Hub team can offer no-obligation advice and help your business to maximise the funding on offer. We are specialists at helping businesses to fill skill gaps and build their talent pipeline for the future.
We have talented applicants apply to us all year round looking for positions, so if you are looking to recruit, get in touch with our Business Hub team today via: email@example.com.