Workforce development and interns can bring a lot to a workplace. New training programs for your employees can boost employee morale and client satisfaction. Interns are usually highly motivated, full of new ideas, and excited to work.
Your current employees are (hopefully) great employees. However, everyone can benefit from continued training in the workplace. Teaching your current employees new information and skills is a great way to increase the amount of talent in your workplace—after all, talent does not have to be something you’re born with, but can be learned.
On the other hand, don’t underestimate the power of the intern. Often, you can train interns the way you want to, and provide the right educational opportunities to create the perfect employee for your workplace. Yes, an intern may be a blank slate. But you can shape that blank slate any way you like.
Unfortunately, in order to reap most of the benefits of both workforce training and having an intern around the office, there needs to be some money involved.
For some companies, the funding needed for an intern or employee training program just isn’t there. But don’t lose hope yet. Frederick has a few programs that helps STEM companies with on-the-job training and internships.
Programs for Workforce Development
When it comes to workforce development, there are two main reimbursement programs for businesses in Frederick County. These two are run by Frederick County Workforce Services and MD Tech Connection.
Frederick BusinessWORKS is run by Frederick County Workforce Services and may be able to reimburse your company for up to 50% of the cost of tuition and training materials for your employees’ workplace training.
In order to be eligible for this program, businesses must be in the private sector. You should also expect to develop training plans and select the most appropriate workforce training vendor for you before submitting your application to Frederick BusinessWORKS.
Once your training project is approved, the business pays the costs up front and is reimbursed after the training is completed.
If you have employees who need more training before a promotion or to avoid a layoff, then the Frederick BusinessWORKS may be the right program for you. They give priority to training that results in “an industry-recognized credential, leads directly to a promotion and/or wage increase, or averts a layoff.”
On-the-Job Training Salary Reimbursements
The On-the-Job training program is run by MD Tech Connection. Whereas Frederick County Workforce Services is government-driven, the MD Tech Connection is an industry initiative that aims to help grow the IT, cybersecurity, and bioscience industries. The initiative is a coalition of 59 different organizations all working towards the same goal.
The On-the-Job training program is just one of the ways MD Tech Connection works towards its goal. When you have an eligible new hire, MD Tech Connection steps in to provide up to $10,000 reimbursement for new employee training. Remember how long it takes to get a new employee up to speed? This program aims to speed that up and improve your business by providing the needed funding for employee onboarding.
While there are plenty of different requirements, one of the most important is that your employee must have experience or need training in the cybersecurity, IT, or bioscience fields. In order to apply for the training reimbursements, you must register with MTC.
Programs for Internship Funding
Maryland Technology Internship Program Funding
An internship lets you test out new employees before hiring them, gives you immediate help for less, and offers you the best talent right out of college. But in order to attract the best interns, it’s often best practice to offer a paid internship. Unfortunately, paid internships can be too expensive for some businesses.
The Maryland Technology Internship Program (MTIP) offers businesses reimbursement of up to 50% of an intern’s wages, or $3,000 per intern annually. MTIP began after legislation was passed in 2014. The goal of the program is to help Maryland retain the top talent that comes out of its colleges. UMBC administers the program.
In order for a business to be eligible, they must be within the technology field or offering a tech-based internship. They must also participate in an online orientation and complete a survey at the end of the internship.
Interns must also meet several requirements. Remote internships are not eligible for reimbursement, internships must be at least 120 hours of work per semester, and the internship must culminate in a substantive project. The salary is required to be at least the current state minimum wage, $10.10.
Don’t Let a Lack of Funding Slow You Down
When it comes to moving your business forward, there are many benefits to both workforce development and internships. If you think one of these programs is just what you need to get ahead, don’t stop now. These programs are designed to move Maryland’s economy forward- and take your business along with it.
CREST is proud to help you find the right programs for your business. If you have any questions about funding programs or which one is right for you, get in touch with us today.