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Leverage Government Funds for Business Growth: Upskill Your Employees with the IWT Program

Business Solutions, Career Development Solutions, Career Training, Development, IWT, Professional Development

In today’s ever-evolving job market, the need for a skilled and adaptable workforce is paramount for business success. Recognizing this challenge, the Incumbent Worker Training program introduces a valuable initiative designed to bridge skill gaps and empower both employers and employees. In this article, we’ll explore the program’s key benefits, potential outcomes, and how you can leverage government funding to upskill your workforce.  

The Incumbent Worker Training Program

The Incumbent Worker Training (IWT) program is a work-based training and upskilling initiative aimed at addressing two critical needs within a company:

  1. Promotion and Backfill Opportunities: The program enables employers to enhance the skills of their current employees, making them eligible for promotions within the organization. Simultaneously, it opens opportunities for other employees to backfill the positions left by those who have been promoted.
  2. Layoff Aversion: For employees at risk of layoff due to a lack of essential skills, the IWT program offers the chance to acquire and develop these skills, thereby safeguarding their employment.

The central premise of this program is that it provides grant funding to assist employees in advancing their skills, fostering a stronger and more competitive workforce while boosting employer success.

Potential Outcomes

Leveraging funds from the Incumbent Worker Training program for your business can yield numerous positive outcomes for both employers and employees, such as:

  1. Worker Wage Increases: Employees can earn higher wages as their skills and qualifications improve.
  2. Backfill Skills Development: Cross-training opportunities ensure that skills gaps are filled seamlessly within the organization.
  3. Career Pathways Skills Development: Employees can chart their career growth with a clear trajectory, increasing motivation and job satisfaction.
  4. Job Promotions: As employees become more skilled, they become eligible for promotions within the company.
  5. Job Changes (Lateral, New Skills): Employees can explore lateral moves within the organization or acquire new skills for more diverse roles.
  6. Layoff Aversion: Employees at risk of layoff due to skill deficiencies can secure their jobs through upskilling.

Upcoming Webinar: Get Your Organization “IWT Ready”

For those eager to learn more about the Incumbent Worker Training program and how to maximize its benefits, we are introducing a webinar series on this topic! This webinar will be hosted monthly on the 1st Tuesday of each month, and will provide valuable insights into the program’s intricacies, best practices for employee upskilling, and actionable steps to initiate the training using government-funded resources.

Register Here for our monthly webinar on the IWT program.

IWT Webinar Topics:

  • Cost Coverage: Discover who covers the costs associated with the program.
  • Eligibility: Understand the criteria for businesses and employees to apply for the IWT program.
  • Incumbent Worker Definition: Learn when an employee is considered an “Incumbent Worker.”
  • Covered Courses: Explore the types of courses that may be covered by the IWT program.
  • Cost Limits: Find out if there are any limitations on the cost of training.
  • Training Delivery: Understand when and where the training can be delivered.
  • Application Process: Learn how businesses can apply for the program.

The webinar will be hosted on Zoom for your convenience, on the 1st Tuesday of each month. This provides an excellent opportunity to gain comprehensive knowledge about the Incumbent Worker Training program and ask our team any questions you may have about how it can benefit your business or workforce.

Conclusion

The Incumbent Worker Training program is a win-win solution for both employers and employees. It addresses skill gaps, enhances workforce competency, and ultimately boosts your company’s success. If you’re ready to think strategically about your employee retention plan and want to leverage government funding, be sure to register for our informative webinar on the 1st Tuesday of each month. Even if you’re not ready to reach out, this webinar can provide you with valuable insights on the program and its potential benefits.

Don’t miss this opportunity to enhance your employees’ skills, promote your business, and secure your company’s future with the Incumbent Worker Training program. Register today and take the first step towards building a stronger, more competitive workforce.

Register Here for our monthly webinar on the IWT program.