How the KickStart Scheme Can Help You Long Term
In addition to the greater risk of unemployment for young people during the pandemic, the longer-term structural changes in the labour market are likely to reduce future employment opportunities for young people without support to improve skills for the jobs available.
In response to the Corona Virus Pandemic the government launched the kickstart scheme in order to help support young people who have been disproportionately affected by the pandemic.
Due to the nature of industries typically employ young people, being hit the hardest during this pandemic, the economy has witnessed relatively high unemployment for people in this age group.
According a recent report by the princes trust under 25s accounted for three in five jobs lost, and youth unemployment is expected to climb further still, even as the economy recovers.
This where the governments kickstart scheme hopes to help, providing a fund of £2 billion for any size business to take on a young worker on 6 month contract at minimum wage.
As an SME business this is a great opportunity for you to increase your own workforce for what is ultimately of little financial risk to you as the government would be covering their wages, but what you must remember is the value you bring to your trainee.
Trainees would be on a minimum wage contract so what you should remember and hope to achieve is that they are being rewarded with value other than finances. Whilst for many who may be coming from a long period of unemployment the pay will be a welcome relief, value such as personal development and training should be their biggest takeaway.
This scheme acts as an opportunity for both the employer and trainee to gain valuable experience, as an employer you should be tracking their progress, providing help and encouragement as to their performance.
Personal development should already be an important mandate of your HR strategy and one of the key deliverables for the scheme. Correctly going about this can be very difficult and if done incorrectly lead to a waste of time and resources.
Training and personal development will always be integral to any successful HR strategy, this scheme provides an opportunity for young people to build the skills they will need in the workplace and the opportunity for you to develop your own training resources for the long term.
Visit Human Capital Department to see how we can help you improve the training and personal development offered to your employees.