Wage incentives for taking on young unemployed workers
With the Government’s push to get young unemployed people into work, a wage incentive scheme is in place that is aimed at encouraging employers to take on and give young jobless people a chance in a tough employment market.
The incentive is available to employers taking on an 18-24 year olds who have been receiving benefits for 6 months. The wage incentive is worth up to £2,275 for employers taking on such a young person in a full time job lasting more than 26 weeks (30 hours per week).
The wage incentive is halved to £1,137.50 for part time workers taken on (between 16 and 29 hours per week) but still represents a good incentive for employers thinking of employing young workers.
If you are an employer with less than 50 employees, the wage incentive payment is paid in two stage payments at week 8 (£700 or £350 for part time) with the balance paid at week 26. Larger employers (over 50 employees) have the full payment paid at 26 weeks.
The wage incentive is claimed through the Jobcentre Plus or through local Work Programme Providers. The claim cannot be made retrospectively but must be done at the time of taking on the worker via a claim form issued by Work Programme Providers or Jobcentre Plus, with the payment claimed from the Department for Work and Pensions (DWP).
Finding out what incentives, grants, finance or assistance is available to businesses can be difficult for business owners. Moore and Smalley pride themselves on being proactive in this area with their clients and are able to carry out such searches targeted to your business and circumstances.
For further information please contact me on 01253 404404.