The Youth Contract
From 2nd April 2012, a number of government initiatives come into effect to help young people gain employment and the focus is on incentivising companies and this includes Wage Incentives.
Wage incentives worth up to £2,275 each are now available to employers who can offer an unemployed 18 to 24 year-old from the Government’s Work Programme, a job lasting at least 26 weeks. The employment must be for 30 hours or more each week.
There is also a part-time rate of £1,137.50 for work between 16 and 29 hours. Small businesses (less than 50 employees) can claim a part payment 8 weeks after the employee starts work. After 26 weeks, full payment can be claimed from the Department for Work and Pensions (DWP).
For details on the Youth Contract and its various aspects please click here