6 April 2022
As Human Resources Professionals we often talk about how much we value our staff and the importance of skill development for our employees. The Investing in Skills (IIS) Scheme is an incentive created to encourage employers to invest in human capital in order to boost productivity and adaptability in the Maltese labour market.This incentive is a European Union funding scheme operated by Jobsplus in Malta, with a budget of €5 million.
21 Academy offers a vast array of training opportunities that can be subsidised via the IIS. Classroom training, e-learning online training, and distance learning are all eligible costs and can be applied for by self-employed, partnerships, co-operatives, businesses, and voluntary organizations.
Employers who apply for this program will receive an increased wage subsidy as well as a higher training cost subsidy. For micro and small businesses, the assistance intensity is set at 70%, while medium and big enterprises can obtain up to 60% and 50% back, respectively. Applicant employers will be entitled for a €25.85 per trainee per hour training subsidy and €5.20 salary subsidy. Training held as Classroom Style Training and E-Learning Online Training are both eligible for the wage cost subsidies (Live Sessions). E-Learning Online Training (Self-Led) and Distance Learning will not be covered by personnel costs.
Employer-provided training that complies with National Mandatory Training Standards is not eligible for financial assistance (this means that the training cannot be that which is considered compulsory by law). Furthermore, because information sessions and team building events are not considered training, they are not eligible for funding under Investing in Skills.
During the training period, the trainee must be formally employed by the beneficiary. Individuals engaged as apprentices, or students enrolled in a vocational training program through a training contract are not eligible.
Beneficiaries must submit a written application for the aid before work on the project or activity begins. This means that the claim and proof of deliverables should be dated after the IIS application’s submission date. Applicants must provide an original, filled-out Investing in Skills application form, as well as supporting evidence.
Any undertaking that is found to be in difficulty will not be eligible for assistance. Jobsplus will perform background checks to guarantee that each applicant’s project is financially viable.
Businesses and professionals can apply for funding through courses organised in partnership with 21 Academy that is accredited by the Malta for Further and Higher Education Authority. It is possible to select from a catalogue of courses or custom-designed courses based on specific company or professional needs.
Get more information on how to apply for training refunds under the Investing in Skills Scheme from this link.