Earlier today, Rishi Sunak announced his three-point ‘Plan for Jobs’, worth up to £30 billion. The proposed plan aims to protect, support and create jobs. To achieve this goal, the government has highlighted three new schemes to incentivise and encourage businesses to bring back furloughed employees, and employ new ones.
- The Job Retention Bonus scheme. This states that employers who successfully bring back furloughed staff, and continuously employ them until end of January, will receive a £1000 bonus for each employee.
- The Kickstart Scheme. The government will directly pay employers to create new additional jobs for young people aged between 16 and 24, who are at risk of long-term unemployment. The government will reward employers by paying the new employees’ wages for six months, plus an additional amount to cover overheads. This initiative aims to allow young people to develop key skills in the workplace, thus increasing their chances of obtaining permanent work.
- The Apprenticeship Scheme. For the next 6 months, the government has pledged to pay businesses £2000 per young apprentice aged 16-25. Similarly, the government will pay businesses £1500 per apprentice aged 25 and over. Traineeships are also highly encouraged, and the government will pay employers £1000 to take on trainees in the form of work experience placements, ranging between 6 weeks and 6 months.
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Whether you’re an employee or employer, the law is complicated. Legislation governing dismissal, discrimination, settlement agreements, redundancy, tribunals and employment contracts constitute a legal minefield for people on both sides of the employer / employee relationship.
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