How Can Companies Get Funding for Employee Training?
Reading Time: ~4 Mins | Written By: Sean Imoo
Investing in your workforce is the most reliable way to future-proof your business. In fact, “Organizations with strong learning and development (L&D) cultures report a 57% higher employee retention rate.” However, the cost of high-quality training can be a significant hurdle for many Canadian companies.
The good news? The Government of Canada and various regional organizations offer substantial financial support to help businesses upskill their teams. Whether you are looking to hire new talent, support Indigenous employees, or help internationally trained professionals, there is a funding stream for you.
Canada Job Grant
For many businesses, the most widely used funding program is the Canada Job Grant.
This program allows Canadian employers to receive funding to cover a significant portion of employee training costs. The exact funding structure varies by province or territory, but the grant often covers a majority of training expenses, making professional development much more accessible.
Key things to know about the program:
All business sectors are eligible for the grant
Employers must fill out and submit all applications
Individuals interested in training must ask their employer to apply on their behalf
Funding availability and guidelines vary by region
While the Canada Job Grant is available in many provinces, it is not offered everywhere. In some regions, alternative workforce training programs may exist that provide similar funding support.
Indigenous Skills and Employment Training (ISET) Program
In 2019, the Government of Canada introduced the Indigenous Skills and Employment Training Program (ISET). The program provides funding to Indigenous service delivery organizations to help Indigenous individuals build skills and secure meaningful employment.
The program focuses on four key labour markets: First Nations, Inuit, Métis, and Urban & non-Indigenous people.
Based on the needs of these communities, Indigenous service delivery organizations offer a range of training services. These can include:
Essential skills training, such as literacy and numeracy
Job readiness and career planning
Technical training for in-demand careers
Industry-specific skills development
These organizations work directly with individuals to support their employment journey and ensure training aligns with real labour market opportunities. If you or your employees are interested in accessing these resources, you can connect with your local Indigenous service delivery organization to learn about available training options.
Global Talent Loans Program at ISSofBC
Another option for individuals seeking career advancement is the Global Talent Loans Program offered by Immigrant Services Society of British Columbia (ISSofBC).
This program is designed to help internationally trained professionals continue their careers in Canada by funding training and certification costs.
Participants can:
Access low-cost loans ranging from $1,000 to $30,000
Receive support for credential evaluations, exam fees, short-term training, memberships, and course materials
Cover travel costs related to training or licensing
In addition to financial support, the program also provides: a personalized Action Plan developed with a career counsellor, guidance on job search tools and strategies, and opportunities to connect with employers and mentors
For employers, this program can help team members gain the credentials or certifications needed to grow within the organization.
Finding Additional Funding Opportunities
Beyond government programs, there are organizations that help businesses identify additional funding sources for training.
For example:
Pocketed helps businesses discover grants and tax credits that can offset training and business expenses.
Granted works with companies to identify and apply for funding programs that support business growth.
These organizations can help employers navigate the often complex landscape of grants and funding programs, ensuring they maximize available opportunities.
Conclusion
Employee training doesn’t have to be a major financial burden. With programs like the Canada Job Grant, ISET, and the Global Talent Loans Program, businesses can access funding to support workforce development, which can lead to increased conversions, clients and revenue.
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