Apprenticeship and Traineeship Incentive Schemes
The Chancellor’s “A Plan for Jobs” speech launched a wave of new apprentice incentive schemes to help boost the economy and kick-start jobs growth and recovery post Covid-19.
The Chancellor’s plan is designed to support jobs by focussing on skills and young people, with the creation of 30,000 new Traineeships as well as financial incentives for employers taking on trainees and apprentices.
With 20 years’ experience in delivering Apprenticeships and Traineeships, DBC is supporting employers to understand the range of incentives available and how they can benefit their organisation.
Apprenticeships are jobs with vocational training which leads to an Apprenticeship qualification upon completion. Apprentices are employees and employers must pay their apprentices the Minimum Apprentice Wage for their age group.
What new incentives are available?
£2,000 for any business taking on a new apprentice aged 16-24 between 1 August 2020 – 31 January 2021. This payment is in addition to the existing incentives below.
£1,500 for any business taking on a new apprentice over the age of 25 between 1 August 2020 – 31 January 2021.
What existing incentives are available?
£1,000 for any business taking on an apprentice aged 16-18 (or aged 19-24 with an Education Health and Care plan or care leaver).
Business with fewer than 50 employees will have 100% of the Apprenticeship cost for apprentices aged 16-18 funded by the Government.
Traineeships provide young people aged 16-24 with valuable training and unpaid work experience.
They support young people to make informed decisions on whether to pursue an apprenticeship, job or further education.
For employers, they can help find and recruit talented young people, contribute to Corporate and Social Responsibility targets and provide additional resources to meet peak and seasonal needs.
What incentives are available to employers taking on a Trainee?
Employers taking on a Trainee from 1 September 2020 will qualify for a £1,000 grant.
There is no additional cost to the employer.
How long do traineeships last?
A traineeship can last between six weeks and six months, with the work experience element covering a minimum period of 60 – 90 hours.
What support do trainees receive?
Trainees receive support from DBC with their Maths, English and employability skills. As well as unpaid work experience with an employer.
What happens after the traineeship?
Companies offering a Traineeship learner a progression onto an apprenticeship or job will qualify for a grant of up to £1,000.
There is no obligation to retain the Trainee as an employee.
For more information on apprenticeships, please contact us on 01332 947973.