£1000 Cash Boost for Employers hiring trainees
On 27th January the government announced a new £1,000 cash incentive to encourage employees to hire trainees within the workplace. The aim of the cash boost, which is available until 31 July 2021, is to help businesses with associated costs of providing a work placement for a trainee, including facilities, uniforms or helping with travel costs.
Businesses offering new traineeship opportunities will receive the £1,000 bonus for every trainee they take on, up to a maximum of 10 trainees. The financial support is available for employers who offer a work experience placement to a trainee who is undertaking qualifying training, and the period of work experience must be a minimum of 70 hours.
Employers can also retrospectively claim the cash incentive for all qualifying work placements that have been completed since 1 September 2020.
Full eligibility criteria and details of how to apply can be found here.
If you have any questions in relation to the above you should not hesitate to contact your usual engagement partner.