There’s one thing all businesses can agree on: there’s uncertainty looming and no one is sure when some degree of normality will return.
But instead of looking to shrink, divest, or reduce your staff – why not take stock of your human resources and see how you can improve their skill bank?
Investing in your workforce today will make them the resilient workers you need tomorrow. Now, imagine doing this without the usual financial burdens attached.
This is where we introduce Jobsplus’ Investing In Skills Scheme
Check out our explainer video on the scheme here!
This EU-funded project will support your staff investment by subsiding wage and training costs. It’s a fantastic opportunity to take your business the next level and handle whatever the unpredictable market throws at you.
How does it work?
You, the business owner or employer, can apply to have your staff trained in whatever field is useful, and Jobsplus will cushion the costs. The training can either be non accredited or accredited by the Malta Further and Higher Education Authority, ITS, UOM, and MCAST. Courses that are recognized by these institutions are accepted too.
In other words, you can send your staff to any local or overseas training provider that you deem fit.
So, if you’re a small silversmith’s business and you’ve got an employee who wants to learn a little more about the day-to-day running of the store, they can embark on a basic accounting course that doesn’t break the bank. Or say, you’re a media company that’s expanding into TV, your staff could use training in speaking in front of the camera. You could organise training sessions with experts and fall back onto this funding.
It’s a win-win really, because your employees are diversifying and increasing their expertise, and you’ve got a better-equipped pool of talent at a subsidised cost to you.
Of course, there are terms and conditions attached, for example, internal training delivered by an internal employee is not eligible and training that is mandatory by law cannot be supported.
Here’s the good part: you’ll be eligible for €25.70 per hour of training for each employee together with €5.15 an hour to cover wage costs.
Also, if it’s accredited training, there’s no cap to the hours, while non-accredited initiatives have a cap of 25 hours.
Additionally, if training is abroad, or if the trainer needs to come to Malta, air travel costs can be taken advantage of, which are calculated on a sliding scale according to how far staff or trainers would need to travel.
Here are some other perks that come with the scheme.
1. The aid you’re entitled to depends on the size of your business.
This scheme is definitely not just for big players out there. In fact, small and micro entities have the largest co-financing rate at 70%. So don’t shy away if you’re an owner employing a handful of people, you can and should take part.
2. Training can be in person, overseas or online.
The details of the training are super flexible under this Jobsplus scheme, which is super useful in these uncertain times. You can opt to have your employees attend in real life, go overseas for training or even from your office or their homes.
3. It’s open for any sized business, NGOs and self-employed persons.
The IIS is open for virtually everyone – small businesses to companies with hundreds of staff, non-governmental organisations and even self-employed people. This is about upping Malta’s labour force as a whole, so practically everyone is eligible.
5. Trainees can be both European and third-country nationals.
Long are the days that Malta’s workforce is comprised of locals. But fret not, both European and third-country nationals can participate as long as they are formally employed with the applicant entity.
In times of crisis, don’t let your staff take the brunt of it. As employers, you know that people make your company, so investing in them is key to getting ahead when push comes to shove.
Tag your employer to up your skillset now!