How does this bonus work?
The new scheme will support young people to gain the skills and experience they need from the start, helping them to get a job, an apprenticeship, or to pursue further study.
The cash boost, which is available until 31 July 2021, will help businesses with the cost of providing a high-quality work placement for a trainee. This includes providing facilities, uniforms or helping with travel costs.
Businesses offering new traineeship opportunities will receive the £1,000 bonus for every trainee they take on, up to a maximum of ten trainees.
Employers can claim the cash incentive for all work placements that have been completed since 1 September 2020.
Further support for hiring
This new cash boost is in addition to the apprentice scheme announced last year, which offers employers £2,000 for each new apprentice they hire aged under 25, and £1,500 for apprentice aged 25 and over. This includes taking on an apprentice who has been made redundant. More than ten thousand employers have already taken up the offer, which is available until March 2021, so businesses can create even more opportunities and give more people the life changing chance to start a great career.
The government’s £2 billion Kickstart Scheme is also creating hundreds of thousands of new, fully subsidised jobs for young people across the country.
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This information has been produced by Rouse Partners LLP for general interest. No responsibility for loss occasioned to any person acting or refraining from action as a result of this information is accepted by Rouse Partners LLP. In all cases appropriate advice should be sought before making a decision.