COVID-19 has become a global pandemic, causing one of the biggest threats the UK has faced in decades. Since the pandemic, the Government has put in numerous different strategies to help support people during what has been one of the most challenging times.
As a way of supporting our economy, the government has given furlough payment and provided plans such as mortgage holidays for homeowners, tax deferrals as well as allocating £48 billion and funding the NHS, Schools, Public Transport and Local Authorities.
Something else that the Government has recently put together is the Plan for Jobs scheme. The scheme involves providing organisations with an incentive for each apprentice they employ. Not only does this help encourage organisations to get themselves back up and running, but it allows young adults to get their foot through the door during these unprecedented times.
The Plan for Jobs also introduces a Job Retention Bonus scheme. The Job Retention Bonus will be introduced to help firms keep furloughed workers in employment. UK Employers will receive a one-off bonus of £1,000 for each furloughed employee who is still employed as of 31 January 2021.
The government is looking to provide this opportunity so that people can help get the economy back up and running. They are supporting both sides of any organisation, and are also providing businesses with a lump sum of money so that they have the flexibility to support apprentices. This can be up to £3,000 per apprentice taken on in the time frame. The programme is designed to only last 6 months, from August 2020 to January 2021. So the opportunity will only be short term for anyone looking for a helping hand during these times to jump at!
So how could Plan for Jobs help you?
As an organisation, this is a great opportunity to kick start getting back to work and reality. There is no uncertainty that the government has chosen to create this scheme in order to support the economy. For this reason, there is no doubt that the plan will have countless benefits to all organisations who chose to seize the opportunity.
Not only is there a financial advantage to the scheme, but this is a great way to integrate your workers back into the swing of working, being busy and in the office. Giving your workers an opportunity to further their skills and focus themselves solidly on their job and apprenticeship. This makes employees feel invested in and excited to go back to work and upskill themselves.
Taking on an apprentice as a small business, and investing in your current workforce to help further and upskill them will have a successful impact on your organisation but will also have a positive effect on your bank balance! The Government are not only providing a lump sum of money for the Apprentice you take on (depending on their age) but you also get an extra £1,000 for taking on a 16-18-year-old or 25 years old with an education, health and care plan. This factor also applies when taking on an existing member of staff, so long as they are the appropriate age and fit the correct category.
For those young adults who may be University graduates or school leavers looking for their big opportunity to begin their career path, this could be the perfect opportunity!
Finding your way in any industry can be a daunting experience. Taking on a job alongside an apprenticeship gives you two different sources of support: your training provider and the organisation. This gives you the possibility to excel in that role further compared to others whose knowledge will not be as updated and varied. Living with a pandemic can be unsettling, taking on an apprenticeship will provide you with a few years safely secured full of experience and knowledge sets you up perfectly for your future.
If you’re interested in taking on an apprentice, or have further questions about the new scheme, please email us via [email protected]