Yesterday (3 March) the Chancellor of the Exchequer Rishi Sunak announced in the Budget that the Government is doubling the incentive payment for employers who take on new apprentices.
As an employer if you recruit an apprentice (anyone over the age of 16) you will receive a payment of £3,000 for each NEW apprentice hired. If you take on a new apprentice aged 16-18 or someone under 25 with an Education, Health and Care Plan you will also receive the existing £1,000 bonus together with the new incentive totaling £4,000.
Last month the Government also announced an extension to the Traineeship programme, investing £126million to triple the number of traineeships available and each employer will receive £1,000 for each new trainee they take on to ensure young people are provided with high-quality work experience placments and supported with skills development.
Join our Information and Q+A Session for Employers: How can you make the incentive payments work for you? Join myself, Paul Willis, Head of Apprenticeship Strategy and our Head of Traineeships, Lisa Brooks on Wednesday 10 March at 10.00am to discuss:
- The benefits of traineeships and apprenticeships
- Incentive payments for Traineeships of £1,000 and Apprenticeships of up to £4,000
- Reinvesting back into your business
- Integrating Traineeships and Apprenticeships into your recruitment strategy
- Application process and terms and conditions