Having a well-trained organization helps a business optimize its success. Employees are more productive, less likely to get hurt, more satisfied with their jobs, and are more likely to embrace new responsibilities or introduce new technologies if the opportunity arises. Happy employees are typically reliable employees, and proper training also reduces employee turnover. Simply put, training makes a world of sense for every organization.
That’s why the Canadian government introduced the collaborative initiative of the Canada-British Columbia Job Grant, which provides government funding for businesses to train existing staff or hire new employees, as necessary.
This innovative and employer-driven program helps eligible Canadians acquire the skills they need to experience success. It also helps create opportunities for vulnerable workers to develop the skills they need to succeed and progress in today’s competitive job market.
There is an increasing demand for new workers in a wide variety of industries—in the next ten years, Canada will require up to 150,000 new workers in the petroleum sector, 145,000 workers in the mining sector, and 300,000 workers in construction. British Columbia alone may require over 50,000 construction workers and 10,000 mining workers. The Canada-B.C. Job Grant will help ensure that Canadian residents get the training they need to secure these new positions.
How this job grant helps
Unfortunately, training is never free, but this job grant certainly helps to keep costs manageable. Eligible employers can receive up to two-thirds of training costs, with employers providing the remaining one-third of costs. The maximum amount of government funding a business can receive is $10,000 for each employee trained. There must also be a job available for these participants upon completion of the training routine.
Eligible training costs include mandatory student fees, textbooks, software, tuition fees, examination fees, and other required materials.
The Canada-B.C. Job Grant has four major funding streams:
- The C. Jobs Plan Priority Sector, with $3 million in targeted funding. For instance, the technology sector was promised $500,000 to assist employers in the technology sector to provide training for new and existing staff, and $250,000 was allocated for training existing employers and new hires in the contract logging industry.
- The CJG New Canadian Fund, with $500,000 worth of government funding. This stream considers organizations and employers that train protected persons and refugees that are eligible to work in Canada, and new immigrants arriving in Canada within the last five years for new or existing jobs.
- The Refugee Fund, with $1,000,000 available for industry/sector and employer associations that deliver employment along with job specific skills and job readiness to refugees arriving in B.C.
- The Construction Sector, which remains open until the program meets its funding allocation for applications.
Some of the top priorities for today’s Canadian government are job creation, economic growth, and long-term prosperity. The time is now to capitalize on this assistance while it is available. Provide representation to those in the workforce who need it most, while creating new opportunities for existing employees to succeed.
All training regimes must start on or before March 31st, 2016, so there is no time to waste for submitting applications. If you are interested in securing up to $10,000 in government funding for your business to train new or existing employees, get in contact with INAC Services today.