New Employer-Directed Skills Accounts for Workforce Training
This act changes how job training is funded. Companies can receive financial support to train new individuals, not yet employees, provided they commit to hiring them upon successful completion of the program. Citizens will gain new opportunities to acquire in-demand skills, often with a job guarantee.
Key points
Employers can receive funding to train individuals who are not yet their employees, but will be hired after training completion.
Companies must cover a portion of the training costs, varying by size (10% for small businesses to 50% for large ones).
Training programs must be selected by the employer to meet their specific workforce needs.
Participants in these programs may be exempt from certain initial assessments, speeding up access to training.
Local boards will approve training agreements, prioritizing small businesses and training for in-demand occupations.
Expired
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