This article provides a high-level understanding of the IRAP Youth Employment Program (YEP) program that is available for businesses to access to offset the costs of hiring recent post-secondary graduates.
This is the third government funding grant that we will be discussing that is available for businesses to access, which is the IRAP Youth Employment Program (YEP). This grant is designed to assist in the funding of hiring young Canadian post-secondary graduates.
Graduate applications can be applied to most areas, like business development, technical, customer service or administration. Businesses who are planning to employ a post-secondary graduate between the ages of 15-30 can benefit from this program. Please ensure to check the MentorWorks website for the administration rules as these are subject for review.
- Businesses can receive up to $30,000 per graduate in funding (up to two) for a period of 6 to 12 months
- Candidates must be between the ages of 15-30 years old
- Incorporated and financially stable Canadian business with 1-500 employees
- Businesses are responsible for finding graduates before applying
- Recent graduate is defined as having graduated from a post-secondary institute within the last 1-2 years
- Focuses on affording recent post-secondary graduates the opportunity to work in technical or non-technical positions
These funding opportunities can open up many new chances for young adults and new graduates to gain experience in their chosen field with your business. This is a win-win scenario and could be the start of a life-long career for a new graduate in your company. Your fresh new employee is waiting right around the corner and through these financing options you can hire them (almost entirely) on the governments dime.