Any company would agree that their employees are the key to business success. A great workforce can save a struggling company and carry it to the forefront of the industry. However, human resource activities aren’t cheap. Large corporations can afford to allocate significant budgets to the hiring process, however most Canadian businesses struggle to budget effectively and would benefit from hiring support.
We have put together a list of the top five hiring grants that will allow companies in Canada to find and train the best candidate possible for a particular position.
Funding Amount: $10,000 for Undergrad, $15,000 for Graduate up to 6-months (Ontario only)
Candidate Specialization: Science, Technical, Engineering, or Math
Description: GEP allows companies to hire recent graduates from an Ontario post-secondary institution with a specialization in science, engineering, math, or IT for a 6-month period in order to tap into their skills and provide the grad with a technical project that demands their skillset.
2. Ontario Centres of Excellence – First Job
Funding Amount: $25,000 (Ontario only)
Candidate Specialization: Science and Technology
Description: The First Job program was created to help companies find young talent in the science and technology fields in order to help them solve a technical problem or commercialize a new innovation. The grant covers up to $25,000 of the candidate’s first year salary.
Funding Amount: $10,000
Candidate Specialization: Marketing, Web Development, Search Engine Optimization
The SBIP program alternates annually between an intern and graduate hiring mechanism. The fund covers 75% of the marketing candidate’s salary, up to $10,000 over 12 weeks. This candidate will be expected to carry out activities such as online marketing, website development, and search engine optimization.
Funding Amount: $10,000
Candidate Specialization: Information & Communication Technology
Description: Career Focus was created to assist companies in the hiring and employment of Information & Communication Technology graduates. The funding mechanism covers 65% of the successful candidate’s salary for 4-11 months, up to $10,000. Funding is available until February 28, 2012 or when funding allocation is exhausted.
Funding Amount: $5,000 from Connect Canada, $5,000 from partnership company
Candidate Specialization: All Research Disciplines: Natural Sciences, Engineering, Economy, Social Science, Health, Environment, or Ethics.
Description: If you have an R&D problem, Connect Canada will support your company in the hiring of an intern over 4-6 months in order to conduct research that demands their skillset.
6. Apprenticeship Job Creation Tax Credit
Funding Amount: $2,000 ($7,000 if combined with ATTC)
Candidate Specialization: All high-skilled trades
Description: This is a great program for employers looking to hire a new apprentice in a high-skilled trade. The program provides the company with a $2,000 tax credit. This tax credit should be combined with the Apprenticeship Training Tax Credit, which provides the company with an additional $5,000 per year in tax credits for supporting the apprentice.
Finding the Right Candidate
Having ideal funding mechanisms for your hiring needs is useless unless you have the ideal candidate. The Internet cuts down the communication and geographic barriers that previously existed in the candidate search. We suggest that you use multiple University and College job boards, as well as popular online job boards, such as Monster.ca (currently running the Virtual Career Fair), Workopolis, and Service Canada’s Job Board. For more information, please see our post on finding the right candidate for your business.
Learn More About Canadian Hiring Grants & Tax Credits
If you are interested in learning more about any of the hiring programs listed above or would like to discover other government grants for business, please sign up for our Free 60 Minute Government Funding Informational Workshop, held in Cambridge and Burlington, Ontario. Alternatively, you can contact us directly or submit a comment below.