With the Coronavirus Job Retention Scheme ending on 31 October 2020, employment (or the lack of it) is weighing heavy on people’s minds.
In its place a Coronavirus Job Retention Bonus Scheme is being introduced which will incentivise employers with a £1,000 bonus for every previously furloughed employee who is retained on certain conditions until at least the end of January 2020. Detailed guidance on this scheme is yet to be provided so watch this space!
Another scheme to encourage businesses in helping kick start the economy is a placement scheme for young people called (would you believe) ‘Kickstart’. Businesses are being asked to place young people for a period of 6 months with a view to developing their skills and experience they need to find work when the placement finishes. There is criteria in place – one being a job placement must be a new job – but the main incentive for many will be the availability of government funding for 100% of the relevant National Minimum Wage for 25 hours per week plus NI and automatic enrolment contributions plus £1,500 per job placement for set up costs, support and training.
Whether these schemes will have the required impact is yet to be seen and at the moment we just hope that everyone plays their part in preventing another national lockdown which many believe will be catastrophic for the country.
If you require any employment advice as an employer or an employee including settlement agreements, redundancy, pay issues or issues pertaining to the pandemic, then please do not hesitate to contact Lorraine Walker or Manjit Kaur-Heer at Willsons for an initial, no-obligation discussion.
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