Employer Cash Incentives Increased (& Extended!)
The apprenticeship incentive scheme has been both extended and increased!
Rishi Sunak, Chanellor of the Exchequer, first introduced the apprenticeship incentives back in August and organisations are curently being offered £2,000 to take on apprentices aged 16 to 24, while if companies take on apprentices aged over 25, they are paid £1,500.From 1 April 2021, the incentives will become more generous with a £3,000 payment per hire, regardless of the apprentice's age. This more generous incentive will be in addition to the £1,000 payment provided for new apprentices aged 16 to 18 and those under 25 with an Education, Health and Care plan, meaning that some employers could earn as much as £4,000 for taking on an apprentice.
If you would like to learn more about hiring an apprentice and accessing these incentive funds, please contact our Workforce Development Team on 0300 123 8088 or email workforce@thelearningfoundry.co.uk.