When it comes to hiring new employees, businesses have a unique opportunity to save money while providing career growth opportunities to individuals needing a boost. Qualified businesses can access wage subsidies in exchange for providing new employees with training and needed experience.
No matter the size of your business, you may be eligible to access the Training Subsidy program. It is designed to reduce the burden of employee recruitment and additional costs on your payroll.
HOW IT WORKS
The Training Subsidy program offers 50% reimbursement of wages to businesses that hire qualified individuals to train in new career opportunities. New employees gain valuable work experience, increase their skills and obtain long-term employment.
WHAT YOU GET
-- Pre-screened candidates that closely meet the requirements of your available position.
-- Reimbursement of 50 percent of a new hire’s wages for a period of up to six months.
-- Participating businesses hold the final hiring decision on every pre-screened applicant.
-- We provide ongoing support and assistance during the entire placement period.
HOW TO QUALIFY
-- Have a new, full-time position available that provides at least 32 hours of work per week.
-- Be established in Colorado for at least 120 days.
-- Pay into workers’ compensation and unemployment insurance.
-- Not have experienced layoffs within the past 60 days.
-- Be able to provide on-the-job training to help increase the skill set and growth opportunities of your new employee.
-- Pay wages at the current industry standard for the position.
-- Agree to retain the employee following the training period, so long as the individual successfully completes the training.
-- Have a flexible timeline for starting participation in the program. (The process of obtaining subsidized positions can take up to 3-4 weeks. Reimbursement of wages to you can take up to 30 days after we receive your invoice.)
The Training Subsidy program also benefits businesses needing to increase the skills of their existing employees. If your business requires staff training in order to remain competitive, you can apply for subsidies covering up to 50 percent of the training costs. Training must relate to the introduction of new technologies, the introduction of new production or service procedures, and/or additional skills required to upgrade to a new job/classification.
For customized assistance with training subsidies or other programs offered at our Workforce Centers, please contact Tony Anderson, Business Services Supervisor for Denver Workforce Development, at 720-865-5572 or firstname.lastname@example.org. You may also use this form to provide information that will best help us meet your needs.
For more information:
Training Subsidy Reference Guide
Training Subsidy Program Overview