Are you training your workforce?
Subsidize it by 66% with Government Grants
In a recent survey of over 800 businesses across Canada (CME Management Issues Survey 2014), 56% stated that they face immediate labour and/or skills shortages. 50% of respondents also noted that their workforce training budget will increase in the next three years. Although many businesses identify the value of workforce training, the financial investment required limits their ability to implement comprehensive training plans. This leads to inefficient workflows, lowered employee satisfaction levels, and increased turnover within businesses, furthering the labour and/or skills shortage issues.
The Canadian federal and provincial governments have partnered to tackle this issue through government funding support. The Canada Job Grant was created to subsidize workforce development training focused on skills development and/or career advancement, covering up to 2/3 of eligible third party training costs.
Is your training eligible for the Canada-Ontario Job Grant?
Launched in 2014, the six-year Canada Job Grant program provides up to 66% of eligible training costs in grant funding to a maximum of $10,000 per trainee. This is a scalable program that businesses can apply for throughout the year for any employees interested in training to support career advancement and skills development. Eligible trainers include third party training programs within Canada provided by a product vendor (such as HIRE GRAY MATTER), university, public college, registered private career college, union based training centre, or school board. Eligible expenses include:
- Tuition or other training fees;
- Textbooks, software, and other required materials;
- Mandatory student fees; and
- Examination fees.
Is your business eligible for the Canada-Ontario Job Grant?
Businesses must apply on behalf of the trainees; trainees can’t apply directly for funding. Eligible businesses must be incorporated and operate within Canada. Owners are not eligible for training subsidies, however upper management without ownership are eligible to take part in training.
Please note that businesses must be approved for the Canada Job Grant before they can commence their training project. Application turnaround time is approximately 1 month. P lease note that training being carried out by Canada Job Grant should lead to as many of the following impacts as possible:
- Promotion of job title;
- Promotion of job role;
- Salary/wage improvements;
- Job creation; and
- Business impacts.
If you plan to train your employees this year with third party support, including training by Hire Gray Matter, please register for the upcoming informational training grant webinar on February 24, 2015 from 11:00-11:45am.
If you are unable to attend on that date, please be sure to check Mentor Works’ Business Funding Workshops and Webinars Page regularly, as they add more time slots and funding topics. You can also contact a Mentor Works Government Funding Expert for more info on training grants or other business funding programs.
Contact Chris by email at email@example.com