Investing in an Apprenticeships Incentives Program
Investing in an apprenticeships incentives program can be one of the most important decisions that you can make for your business. It will improve your workforce and your bottom line. Whether you have a large company or a small business, you can take advantage of the program.
ODEP supports inclusive apprenticeship models
ODEP supports inclusive apprenticeship models to improve the labor market outcomes of individuals with disabilities. The Agency’s initiatives span career development, employer engagement, return to work, and assistance for workplace accommodations. It also includes autism-related initiatives. These initiatives enhance the Department’s policies and practices, promote greater inclusion of people with disabilities, and increase access to competitive employment.
The largest federal investment in inclusive apprenticeship is the Partnership for Inclusive Apprenticeship (PIA). The initiative provides an avenue for individuals with disabilities to gain credentials and gain skills. It works in collaboration with employers and apprenticeship intermediary organizations. The initiative works with up to ten industry associations and apprenticeship providers to help expand apprenticeships. It also conducts a survey of partners and Community of Practice members to learn more about their experiences with apprenticeship programs.
Several countries around the world offer apprenticeship incentives to encourage businesses to take on apprentices. These incentives range from tax exemptions to subsidies. The aim is to provide individuals with skills in demand, while helping businesses to build capacity.
The government has announced its Plan for Jobs which includes a series of updates to apprenticeship funding policy. These incentives will be available to businesses until March 2023. The government also introduced a new scheme called the Apprenticeship Incentive Grant for Women (AIG-W) in Budget 2018.
Incentives are conditional, meaning businesses that don’t hire an apprentice will have to pay a fee into the entrepreneurship fund. These fees are equal to five percent of the firm’s full-time workforce multiplied by the minimum wage.
Upskilling of staff to Diploma or Advanced Diploma level
Providing an incentive for upskilling staff to a diploma or advanced diploma level is a laudable goal. In fact, many firms are so aware of their talent pipeline abyss that they are already training their employees on their own. In particular, IBM has taken the lead by creating an apprenticeship program for their upcoming crop of techies. It’s a win-win for all parties. IBM will provide tuition-free training, evening childcare for its students, and a new accelerated training program allowing students to earn a bachelor’s degree in as little as 18 months. Similarly, Accenture has pledged to train a billion dollars in retraining every year for the foreseeable future.
Small business smart business program
Designed to help small business owners access training, the Small Business Smart Business Apprenticeships Incentives program offers training vouchers to small business operators in Western Australia. In return for agreeing to participate in the program, businesses can claim $200 toward training costs and up to $200 toward start-up costs.
The program is available to small businesses with less than $5 million in revenue in the previous two years. In order to qualify, companies must be conducting a tier one activity, including developing a product or prototype, or planning a strategic plan.
The Small Business Smart Business Program is designed to help small business operators improve productivity. Incentives for hiring apprentices are available at both school-age and mature age. These incentives can range from $1,250 to $4,000.
There are also grants for SMEs. The Tasmanian Innovations Program offers grants of up to $150,000, and the First Step Exporter Program offers grants of up to $10,000 to help small businesses enter the first export market.
For more information on how to signup and qualify, send your inquiries to Apprenticeship Community.