Talent development has been a priority for our region for years. Still, now more than ever is a great time to refresh employers with the options available to help them attract and retain the talent they need.
One of the programs that offer no-cost training for employees is the Incumbent Workers Training. Continue reading to learn more about how your company can take advantage of 100% funding for employee training.
Incumbent Worker Training (IWT) provides funding assistance to employers to provide training designed to improve the skills of employees and the competitiveness of an employer. IWT can help avert potential layoffs or increase the skill level of employees so they can be promoted, or create backfill opportunities. Companies will receive the funding assistance needed to meet the rapidly changing demands of the economy. The employees will receive the training necessary to upgrade present work skills, heighten job security, provide marketable skills, and increase the possibilities for higher wages and promotional opportunities.
- What employees are eligible for training?
- It is preferred that this training be for employees who have been employed for a minimum for six months but the requirement is that the average of all participants be a minimum of six months. IWT funding cannot be used to fund training for seasonal, temporary or intermittent employment.
- What costs does the funding cover?
- 100% of direct training costs. The funding covers training-related costs including tuition, instructor wages, books, manuals and technology fees.
- Are there any costs to the employer?
- The employer’s share of the cost is determined by the size of the company’s workforce and may include the amount of the wages paid to the employee while the employee is attending training. This is the employer’s non-federal share of the cost of the training. The non-federal share can also include other costs associated with the training. The employer non-federal share may not be less than:
- 50 or fewer employees = 10% of training related costs
- 51 to 100 employees = 25% of training related costs
- 101 employees or more = 50% of training related costs
- How does a company apply for funding?
- Funding is awarded through an application process.
If you have questions or would like to apply for IWT in the Coastal Region, contact Dr. Pete Snell of Coastal Pines Technical College.
Dr. Pete Snell | Vice President Economic Development | Email: firstname.lastname@example.org | Office: 912-262-4303