The DfE has announced the launch of the Graduate Role Incentive offering local businesses 20% of the first year salary up to £6,000 and an employer National Insurance rebate for each returning or incoming graduate hired into supported roles.
Essentially that all means they’re trying to get graduates to come back, or move, to the island to work and seeking to encourage businesses to hire them by helping to pay part of their salaries and National Insurance.
Applications for the scheme opened this week, with DfE saying it is for full-time roles, which require an RQF Level 6 qualification or higher, at a minimum starting gross salary of £21,000 per year. All applications must also carry a development plan to ‘ensure they have sufficient opportunities for professional growth’.
Businesses who want to take part must have a permanent establishment on the island and they also have to submit their application in advance of appointing anyone. The 20% towards their salary, up to £6,000, and NI rebate will be paid after the graduate has worked for one year in the company.
Minister Laurence Skelly said: ‘The Graduate Role Incentive has been designed to improve the opportunities available for graduates seeking a career in the Isle of Man. We recognise that there are often additional resource requirements for employees at the beginning of their career, and this Incentive has been developed to help businesses take on, and support the development of, graduates for the ultimate benefit of both the organisation and the individual. Providing career opportunities in the Isle of Man for qualified graduates who have chosen to conduct their studies off-Island is important to ensure the Island has the skills required to meet business requirements both now and in the future.’
As if this wasn’t exciting enough, the Manx Internship Programme is back too. Applications for that scheme, which provides work experience placements, will open later this month.
For more information on the Manx Internship Programme, and to express interest as a business or individual, visit.
To find out more about the Graduate Role Incentive, visit.