Interested in funding for employers? We take a detailed look at the funding options available to employers who are looking to take on career change candidates.
The Cost of Recruitment
People are an organisation’s biggest asset and therefore, they come at a cost. First of all, there is a cost of the recruitment process itself. This comes in the form of advertising, the resources needed to shortlist candidates, interview them and set up the necessary human resource processes to employ them. Subsequently, of course, you need to train them. This can mean external training costs or a loss in productivity as the new employees are trained internally.
For the applicant, they know that changing careers has a cost attached. This is particularly the case for a more mature applicant. There will be a need to retrain and pick up new skills and qualifications. However, employers can gain an advantage in the recruitment market by researching funding opportunities. These can help cover costs and offer a comprehensive recruitment and induction package to a new employee. There are various schemes which now encourage people of any age – from a 20-year-old college leaver to a 50-year-old seeking a new challenge – to re-train and prepare themselves for a new career.
Here we will take a look at some of the recent and more established funding for employers options that are currently available.
Funding for Employers: Final Thoughts
When preparing a recruitment strategy aimed at career changers, it makes sense for employers to have their funding plans in place. By doing this in advance, employers have easier access to the kind of talent they are hoping to attract. Additionally, businesses that offer training programmes generally attract better quality applicants.
Want to know more about funding for employers? Refreshing a Career has a wealth of help and advice for employers seeking funding. You’ll find lots of other resources including the benefits of hiring career changers and the ultimate guide on hiring career changers.
Be sure to also check out our services page for information on advertising on our specialist jobs board, creating a company profile, and more.
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