The Government announced their Plan for Jobs, a breakdown of the financial support they will be investing to help UK employers to ‘support, protect and create’ jobs following the pandemic. The Plan for Jobs includes targeted support for some of the industries who have been significantly impacted by the lockdown restrictions, such as hospitality and tourism. In this article, we’ll take a look at the schemes employers may be interested in.
Top schemes for employers
The plan includes many financial schemes which will benefit businesses and employers. Employers may be interested in the following:
Payments for employers who take on new Apprenticeships
Employers who hire a new apprentice between 1st April and 30th September 2021 will receive an enhanced £3,000 per new apprentice hire, in addition to the existing £1000 provided for all new 16-28 year old apprentices, and those under 25 with an Education, Health and Care Plan where applicable.
This is in addition to existing government payments and schemes for employers taking on apprenticeships. This is aimed at promoting the creation of jobs.
Payments for employers who offer traineeships
Similarly, the Government will provide £1000 per trainee to employers who provide traineeships for 16-24 year olds. Eligibility will be extended to individuals with Level 3 qualifications and below.
Kick Start Scheme
Also, the Plan for the Jobs includes the ‘Kick Start Scheme’, which is a £2 billion fund to create 6-month work placements for young adults. Importantly, this scheme is specifically aimed at those aged 16-24 who are on Universal Credit and are deemed to be at risk of long-term unemployment. The funds will cover the relevant National Minimum wage for 25 hours a week, plus the associated employer contributions.
These schemes promote the retention of jobs, and the creation of work placements for young adults that are likely to be affected by the economic situation.
Financial bonuses that may be relevant to your industry
It is clear that the UK economy is currently taking a hit due to the coronavirus pandemic and employers have been working hard to adapt their businesses over the last year. We understand this will be playing a significant role in your people management strategies at the moment. For this reason, we’ve included a round up of some of the financial schemes and policies for a range of industries, and you can read the full details on the gov.uk website.
Housing and Construction
There are several financial schemes that may support the housing and construction industries, which you can view in the government policy paper. Here is a selection of some of the schemes that will promote job opportunities:
- Construction Talent Retention Scheme – to support the redeployment of workers at risk of redundancy. This scheme aims to retain construction skills and match talent with opportunities.
- Green Jobs Challenge Fund – the government are investing funds to environmental charities and public authorities to protect and create 5,000 jobs in England.
Plan for Jobs for employers
To sum up, the Plan for Jobs includes schemes designed to encourage and reward employers for retaining employees, and provide training and work opportunities for young people. If you need HR advice and support please contact our team.
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