10th February 2021 Posted by - Alexander Accountancy
The government has announced a new £1,000 cash bonus to encourage employers to take on new trainees. The traineeship scheme supports young people to gain the skills and experience they need from the very start, helping them to get a job, an apprenticeship, or pursue further study.
The traineeship programme has helped nearly 120,000 young people since 2013. A traineeship can last from 6 weeks up to 1 year, though most traineeships last for less than 6 months.
Businesses offering new traineeship opportunities will receive the £1,000 bonus for every trainee they take on, with up to a maximum of ten trainees. The application process opened on 27 January 2021, but employers can claim cash incentive for all work placements that have been completed since 1 September 2020. The cash boost is available until 31 July 2021.
The financial support is intended to help businesses with the cost of providing a work placement for a trainee. This includes providing facilities, uniforms or help with travel costs.
Chancellor Rishi Sunak said:
‘My number one priority is to support, protect and create jobs, which is why for the first time ever we’re giving businesses £1,000 to cover the cost of trainee work experience, because we know that traineeships are a proven way to give young people the skills and opportunity, they need to be ready for work.’
