Employ PEI
Highlights
This program is designed to help your business grow by providing a temporary wage subsidy for hiring new employees. You can receive up to 50% of the wages for a new full-time employee, for a maximum of 20 weeks. This means you can bring in fresh talent without bearing the full financial burden, allowing you to train them effectively and integrate them into your team.
What You Get:
- Up to 50% wage subsidy for new full-time employees
- Maximum contribution of $12.50 per hour during the training period
- Support for on-the-job training, making your new hire fully productive by the end of the subsidy period
Why Apply?
- Reduce hiring costs significantly
- Enhance your workforce with new talent
- Easy application process with ongoing acceptance of applications
By participating in this program, you can expand your team and improve productivity without the immediate financial strain. This is a straightforward and beneficial opportunity to invest in your business's future.
Financing Details
Type of Financing: Wage Subsidy
Repayment Terms and Interest Rates:
- There are no repayment terms or interest rates. This is a subsidy, not a loan.
Eligible Expenses:
- Up to 50% of wages for a new full-time employee.
- Maximum contribution of $12.50 per hour during the training period.
Use of Funds:
- Funds can be used solely for wages of the new employee during the training period.
Restrictions on Use of Funds:
- Funds cannot be used for any expenses other than wages.
- Mandatory employment-related costs such as CPP, EI, and Worker’s Compensation are not covered.
Fees:
- There are no fees associated with this program.
Qualifications
- Must be a registered private sector business, organization, municipality, band/tribal council, or public health and educational institution.
- Must be hiring a new full-time employee.
- New employee must be unemployed and looking for full-time work.
- New employee must be legally authorized to work in Canada (Canadian citizen or permanent resident).
New employee must have been out of high school for at least 2 years.
Disqualifications:
- None mentioned.
Description
This program offers your business a temporary wage subsidy. It helps you hire a new full-time employee who may lack the necessary work experience. The government will cover up to 50% of the wages for this new employee for a maximum of 20 weeks.
Here's what you get:
- Financial Support: Up to $12.50 per hour for the new employee's wages.
- Training Opportunity: On-the-job training to make the new hire fully productive.
- Long-term Benefits: By the end of the subsidy period, your new employee should be a valuable asset to your business.
You are responsible for mandatory employment costs like CPP and EI, and ensuring proper Worker’s Compensation coverage. This program is a great way to reduce hiring costs while investing in the growth and productivity of your business.
Program Steps
Complete the Application Form: Fill out the Employ PEI Application for Employers. Ensure all sections are completed accurately.
Prepare Documentation: Gather the following documents:
- Detailed job description (including job duties, education requirements, and timelines for the new employee)
- Contact information for the new employee
- Sustainability plan to maintain the new employee after the subsidy period
Submit Your Application: Email the completed application and supporting documentation to [email protected] or drop it off at your local SkillsPEI office.
Await Review: SkillsPEI will review your application. A Program Officer will contact you within a few days to discuss your application.
Receive Approval: Wait for confirmation that your application has been approved. Do not start the new employee until you have received this approval.
Begin Employment: Once approved, your new employee can begin work. Ensure the wage rate paid is within the wage range for the targeted occupation.
Cover Employment Costs: As the employer, cover mandatory employment-related costs, including CPP and EI. Ensure proper Worker’s Compensation coverage for the new employee.
Monitor and Report: Follow any additional reporting requirements as specified by SkillsPEI to ensure compliance with the program.