OBIO — Health to Business Bridge Program
Highlights
This program is designed specifically for businesses like yours in the health science sector. It offers wage subsidies to help offset the costs of onboarding and training new hires. This means you can bring in top talent without the financial strain. The program also provides coaching and mentorship, ensuring your new employees are well-prepared to meet your company's needs quickly.
What You Get:
- Access to a robust job board and Talent Network™ with highly qualified candidates.
- Wage subsidies to reduce the cost of hiring and training.
- Hands-on training sessions and business bootcamps to upskill your team.
- An Applicant Tracking System (ATS) to streamline your recruitment process.
By participating, you can enhance your workforce with skilled professionals who are ready to contribute from day one. The program is designed to be easy to qualify for, making it a seamless addition to your business strategy.
Financing Details
Type of Financing: Wage Subsidy
Repayment Terms and Interest Rates:
- There are no repayment terms or interest rates associated with this wage subsidy. The funds are provided to offset the costs of onboarding and training new hires.
Eligible Expenses:
- Onboarding costs for new hires
- Training expenses for new employees
- Coaching and mentorship programs
- Hands-on training sessions related to health science business operations
Ineligible Expenses:
- The funds cannot be used for general business expenses unrelated to onboarding and training.
- They cannot be used for capital expenditures, such as equipment or real estate.
Fees:
- There are no fees associated with applying for or receiving this wage subsidy.
Qualifications
- Must be a health science company.
- Must be located in Ontario.
Must be an OBIO® member.
Disqualifications:
- Businesses outside the health science sector.
- Businesses not located in Ontario.
- Non-OBIO® members.
Description
This program helps your business find and train new employees in the health science sector. You can receive wage subsidies to cover the costs of hiring and training new staff. This means you can bring in skilled workers without worrying about the initial expense.
The program offers coaching and mentorship to ensure your new hires are well-prepared. They will receive hands-on training in health science business operations, allowing them to contribute effectively from day one.
Additionally, you have access to a robust job board and talent network. This platform connects you with highly qualified candidates, including those who have completed specialized training programs. This ensures you find the right talent to meet your business needs.
Program Steps
Gather Required Documentation: Prepare the necessary documents for your application. You will need:
- Business registration details
- Financial statements
- Business plan
- Details of intended use of funds
- Employee information
Complete the Application Form: Fill out the application form provided by the program. Ensure all sections are completed accurately.
Submit the Application: Submit the completed application form along with the required documentation to the program's designated submission portal or email address.
Attend an Information Session: If required, attend an information session or webinar to understand the program's benefits and requirements better.
Review and Sign Agreement: Once your application is reviewed and approved, you will receive an agreement. Review the terms and conditions carefully, then sign and return the agreement.
Onboard New Hires: Utilize the program's resources to onboard and train new hires. This may include accessing the job board, talent network, and training sessions.
Track and Report Progress: Regularly track the progress of your new hires and report back to the program as required. This may include providing updates on their training and development.
Utilize Wage Subsidies: Apply for wage subsidies to offset the cost of onboarding and training your new hires. Ensure you follow the guidelines for claiming these subsidies.
Engage in Coaching and Mentorship: Take advantage of the coaching and mentorship opportunities provided by the program to support your new hires' development.
Provide Feedback: Submit feedback on the program to help improve its offerings and support for businesses like yours.