Graduate Mentorship Program — For Employers
Highlights
The Graduate Mentorship Program is designed to help your business grow by providing financial support for hiring recent graduates. You can receive up to 50% wage subsidy for 52 weeks, making it easier to bring in fresh talent without the full financial burden. This program not only helps you save on wages but also allows you to mentor and train a new employee, ensuring they become a valuable asset to your team.
Key Benefits:
- 50% wage subsidy for 52 weeks
- Up to $10.00 per hour covered
- Mentorship and training support
By participating, you can enhance your workforce with motivated graduates who are eager to contribute. The application process is straightforward, and there is no deadline, making it easy to apply at any time. This program is a great way to invest in the future of your business while supporting the next generation of professionals.
Financing Details
Type of Financing: Wage Subsidy
Repayment Terms and Interest Rates:
- This program does not require repayment. It is a subsidy, not a loan, so there are no interest rates or repayment terms.
Eligible Expenses:
- Up to 50% of the wages for a new employee for 52 weeks.
- Maximum subsidy is $10.00 per hour for the new employee's wages during the training period.
Ineligible Expenses:
- The subsidy cannot be used for mandatory employment-related costs such as CPP, EI, or Worker’s Compensation coverage.
- Funds cannot be used for any expenses outside of the new employee's wages.
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.
- Business must be operating in Prince Edward Island.
- Must be hiring an unemployed recent post-secondary graduate within the last five years.
- The new employee must be looking for full-time employment.
The new employee must be legally authorized to work in Canada (Canadian citizen or permanent resident).
Disqualifications:
- Businesses not operating in Prince Edward Island.
- Hiring individuals who are not recent post-secondary graduates within the last five years.
- Hiring individuals who are not legally authorized to work in Canada.
Description
This program offers a great chance to support your business by hiring a recent graduate. You can get up to 50% of the wages covered for 52 weeks. This means you can bring in new talent without bearing the full cost.
The subsidy can help you hire someone who has recently finished their studies but lacks work experience. During this period, you can mentor them and help them grow into a productive member of your team. By the end of the year, they should be fully contributing to your business.
You can receive up to $10.00 per hour for the new employee's wages during the training period. This makes it easier to manage your budget while investing in new talent. You will need to cover mandatory employment costs like CPP and EI, and ensure proper Worker’s Compensation coverage. This program is a valuable opportunity to grow your team and support your business’s success.
Program Steps
Download the Application Form: Obtain the Graduate Mentorship Application for Employers from the SkillsPEI website.
Prepare Documentation: Gather the necessary documents to support your application. You will need:
- Completed Graduate Mentorship Application for Employers
- Detailed job description (including job duties, education requirements, and training timelines)
- Contact information for the new employee
- Detailed mentorship plan (including the mentor's name and position, feedback process, training opportunities, and how the position benefits the graduate)
- Description of your business or company profile and location of the activity
- Sustainability plan to maintain the new employee after the subsidy period
Complete the Application Form: Fill out the Graduate Mentorship Application for Employers form with accurate and detailed information.
Submit the Application: Email the completed application form and supporting documents to [email protected] or drop them off at your local SkillsPEI office.
Wait for Review: SkillsPEI will review your application. A Program Officer will contact you within a few days to discuss your application.
Receive Approval: Once your application is approved, you will receive confirmation from SkillsPEI. Ensure you wait for this approval before your new employee starts working.
Begin Employment: After receiving approval, your new employee can start work. Ensure the wage rate paid is suitable for the targeted occupation and complies with program guidelines.
Cover Employment Costs: As the employer, you are responsible for covering mandatory employment-related costs, including CPP, EI, and proper Worker’s Compensation coverage for the participant.