What You Need to Know About the Kickstart Scheme
Global Pandemic, Mass Unemployment, Loss of Livelihood, Death, have I got your attention? Good, in this blog post I’m going to discuss several things about the Kickstart scheme that you should know before you sign up. This is a must read for both employers looking for new employees for their businesses, it’s aimed at a range of business sizes, and for those who are eligible by meeting the criterions for the scheme to gain a new job and skills that will be beneficial for them and aid them in their future prospects.
What is the Kickstart scheme?
Now let’s get into the nitty gritty of what the Kickstart Scheme is all about. The Kickstart Scheme is a job creation initiative, it’s two-way opportunity for both business & enterprises of various sizes whether they be small and medium sized enterprises or they are big & large businesses to be able to obtain grant funding from the central government in an attempt to abate employment amongst the masses. The grant funding will enable employers with operational setup costs related to new hires, and training and other support measures. For young adults who meet the eligibility criterions, this is a scheme that endeavours to protect and support them by giving them opportunities to upskill and learn and garner commercial experience setting them up for what will likely be a highly challenging and competitive post lockdown job market.
How does the Kickstart Scheme work?
Good question, here’s a good answer, there is a set criterion: young adults must be between aged 18-24, and they must be on Universal Credit. There will be an allocated limit as to how many hours people could work (25 hours) for a maximum duration of 6 months. The Government will offer 100% wage subsidies (National minimum wage) to those who take part, saving employers who take part in the scheme on overheads I.e., wages & training but they have the option to pay extra if they should wish.
What’s the point & will it be a success?
You’re probably wondering why only 18-24 years are allowed subsidised employment? Pandemic & lockdown measures have affected everyone, but bearing the brunt of those measures are young adults whose current and future jobs prospects appear more grim. The purpose of the initiative is to build skills in the workplace and are meant to help young adults by giving them an opportunity to gain experience to become more employable & improve their chances of finding long-term work otherwise be left behind as a result of the pandemic.
In summation, the jury is still out on whether this is a success, a similar initiative setup by Gordon Brown during the 2008 financial crisis, the Future Jobs Fund with a war chest of £330 million pounds compared that to Rishi Sunak’s £2 billion, only time will tell is this achieves the key objective, but the general consensus amongst everyone is if the Government hadn’t acted sooner then the long-term effects of coronavirus will be a strain on the economy in the long term, nobody wants a return of the1980’s unemployment levels. What do you think, leave a comment below.