Semta announce new grant to encourage SMEs to hire graduates
The Sector Skills Council for the Advanced Manufacturing and Engineering sectors (Semta) has announced that it will be administering a new grant aimed at supporting UK-based advanced manufacturing and engineering SMEs in employing and training graduates.
Having secured funding from the UK Commission for Employment and Skills' Employer Investment Fund, Semta aim to reduce youth unemployment by March 2013. The goal is to get 200 young people into work, with at least one-third of these opportunities being in Scotland, Wales and Northern Ireland.
Only 15% of SMEs in advanced manufacturing and engineering currently employ graduates. With the introduction of the new grant, Semta hope to increase this percentage to 17% over the next three years.
Companies that hire a graduate who begins work on or after 1 October for at least three months are eligible for the £1,000 grant.