How hiring new staff in 2021 could actually save your business money

With a view to getting the economy back on track, we are beginning to see the Government release attractive financial incentives for business owners to hire new staff.

Despite this, hiring a new employee the traditional way can be a lengthy, stressful and costly process.

After all, that’s probably the reason you’re looking for new staff in the first place, right?! Because you have too much work and not enough time.

So, the last thing you want to do is add another task to your endless to-do list.

From my experience as a Recruitment Specialist working across the Hunter, searching and onboarding a new employee isn’t an overnight process.

Hiring takes time.

I know that most successful business owners and managers are insanely busy and don’t have time to headhunt or post jobs online.

Whether you are hiring your first employee or adding to the team, you may be second guessing if now is the right time or if you yourself have enough time. Or maybe you’re worried about whether you have the budget?

If these sounds like questions you’ve been asking yourself, Coastal Recruitment Group can help.

While we can’t give you more time, we can take the burden of identifying, shortlisting and recommending your next great hire.

What’s more, we can also help you save money when hiring new staff.

The Australian and NSW governments are keen to stimulate the economy. They have made clear their mandate: to help more business owners grow, and in doing so, support the creation of new jobs.

Let’s take a quick look at the financial incentives behind their mandate, incentives that make now the perfect time for you to onboard a new employee.

Here’s 3 financial incentives to cash in on if you’re ready to hire:

 

1. Wage Subsidies

Wage subsidies are a financial incentive for employers to hire new staff in ongoing jobs. These jobs can be full-time, part-time or casual as long as the average hours is more than 20 hours per week.

According to the Australian Government website,

“Wage subsidies up to $10,000 (GST inclusive) may be available to Australian businesses hiring employment services participants in ongoing jobs.”1

These wage subsidies are available for new employees who are:

  • 15 to 29 years of age
  • Parents
  • Indigenous Australians

Registered with an employment services provider for 12 months or more.

Find out more about the eligibility criteria for both your business and potential employees here.

2. Restart wage subsidy: claim $10,000 by hiring mature aged workers

The Restart Wage Subsidy aims to help mature age workers re-enter the workforce.

To claim the Restart wage subsidy for your business, your new employee needs to be 50 years of age or over.

Find out more about Restart here.

3. Apprenticeship and Trainee Wage Subsidies

If you are planning to hire an apprentice or a trainee, your business or Group Training Organisation (GTO) may be eligible for a wage subsidy of up to 50%.

The Federal Government introduced two different initiatives to support Australian apprentices and businesses:

  1. Boosting Apprenticeship Commencements (BAC)
  2. Supporting Apprentices and Trainees (SAT)

BAC is encouraging businesses to hire new apprentices while SAT is providing an incentive to encourage small and medium businesses to keep their trainees and apprentices in their current roles.

With these incentives on offer, it is clear why now is an ideal time for business owners to grow and find their next superstar!

If you are looking to expand your business and strengthen your team, take advantage of these incentives so you can grow the right way.

Looking for someone to join your amazing team?

Want a recruitment expert to take the time and stress out of the hiring process?

Let Coastal Recruitment Group take care of the hard work and find the best person for your business.

Our Recruitment Specialists have the experience and know-how to make the hiring process a breeze – we want to help you grow your business the right way!

Get in contact with our leading Recruitment Specialists today – call (02) 4058 1930 or email hello@coastalrecruitmentgroup.com.au.

REFERENCES
1 https://www.dese.gov.au/wage-subsidies/resources/wage-subsidies-fact-sheet

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