Training is crucial for organizational development and success as it improves employee morale, performance, and expands skill sets to help your business succeed.
Types of Training and Costs
Formal training includes courses offered by accredited institutions and professional associations, workshops, seminars, lectures and conferences. The time and cost for these types of training tends to be higher, but may yield structured, consistent and recognized results.
Informal training includes on-the-job training, job shadowing, special “stretch” projects, and online learning. The cost tends to be lower as most are conducted within a employee’s regular work day, but the learning may be inconsistent and less effective.
Read Skills by Design (PDF) to get more information on various training methods.
If you are looking to employ skilled trades in your company, apprenticeships may be an option to consider. Apprenticeships are post-secondary education programs consisting of on-the-job training provided by employers and technical training at an approved technical training provider.
There are many benefits to hiring apprentices:
- Apprentices are more likely to stay with an employer who has invested in their training thereby reducing turnover and recruitment costs.
- They learn your company’s operation and workplace practices from certified journeypersons.
- Apprentices reduce the risk of skilled workforce shortages by ensuring there is a workforce available.
- They are the best way to provide timely and effective knowledge transfer from current journeypersons to future trades professionals.
Apprentices are required to successfully complete technical training and the industry examination(s), in addition to completing the required on-the-job training. An Alberta Journeyman Certificate is awarded when an apprentice has satisfied all of the requirements of the program.
To learn more about apprenticeship training, visit Trade Secrets.
Canada Apprenticeship Job Creation Tax Credit
The federal Apprenticeship Job Creation Tax Credit (AJCTC) is a non-refundable tax credit for an employer that hires eligible apprentices. The maximum credit an employer can claim is $2,000 per year for each eligible apprentice.
Date Updated: Wed, 08 Nov 2017 01:27:59