Over 50? Employers can be rewarded financially for hiring you

Over 50? Employers can be rewarded financially for hiring you

In an attempt to ensure the experience of older Australians continues to add value to the workplace, the Federal Budget 2018 committed to providing up to $10,000 in Restart wage subsidies for employing Australians aged 50 and over. This is great news if you’re over 50 and looking to change jobs.

Just because you’ve been around the sun over 50 times doesn’t makes you less employable. After all, 50 is the new 40, and your track-record could be exactly what a business is looking for.

Why not give an employer an added incentive for favouring you over other candidates? Remind them that in addition to hiring you on merit, there’s the added bonus of a wage subsidy payment of up to $10,000. A prospective employer may also receive a ‘kickstart’ payment of up to 40 percent of the total wage subsidy after four weeks of a job starting.

Raise your skills on the government’s tab

Employer subsidies aside, the coalition government has also announced a Skills and Training Incentive ($19.3 million) to help you enhance your skills and explore new career opportunities as a mature age Australian. It will be complemented by the introduction of the Skills Checkpoint for Older Workers by the Minister for Education and Training.

Then there’s a $15.2 million Job Change initiative designed to support mature-age workers facing retrenchment by providing them with information about career options. Meantime, the Entrepreneurship Facilitators program is being expanded into 20 additional locations to promote self-employment among older Australians ($17.7 million).

Employer rewards for hiring other groups

Over 50s aren’t the only group that stand to benefit from Budget 2018 initiatives. Employers also have extra reason for hiring people in the following categories, and if you’re in one of these groups, then there’s no harm in reminding employers that there’s an added reason for hiring you.

Youth Bonus wage subsidy: Up to $10,000 (GST inclusive) when employers hire eligible job seekers who are 15 to 24 years of age.

Youth wage subsidy: Up to $6,500 (GST inclusive) when employers hire eligible job seekers who are 25 to 29 years of age.

Parents wage subsidy: Up to $6,500 (GST inclusive) when employers hire an eligible job seeker who is a principal carer parent.

Long-term unemployed and Indigenous Australians: Up to $6,500 (GST inclusive) when you hire a long-term unemployed job seeker who has been registered with employment services for 12 months, or an Indigenous Australian job seeker who has been registered with employment services for six months.

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