Investing in Experience - Over 50’s Funding
Investing in Experience – Skills Recognition & Training (IIE-SRT) – Over 50’s Funding
Investing in Experience (Skills Recognition & Training) (IIE-SRT) is an Australian Government program which is providing $20 million over two years to support up to 5,000 mature age workers (aged 50 years and over) to gain nationally recognised qualifications. It is designed to provide an opportunity for mature age workers to have their current capabilities recognised and to receive training to fill any knowledge or skills gaps.
They can then obtain a nationally recognised qualification at the Certificate III to Advanced Diploma level. Under the IIE–SRT program, employers can apply for grants of up to $4,400 (incl. GST) to assist their mature age workers to undertake a skills assessment and obtain gap training if the skills assessment identifies a need. The funding applies to both employees and the self employed, with these individuals needing to meet a number of eligibility criteria.
Why is it important to act now?
The shifting nature of government policy means that the funding and incentives landscape is rapidly changing. At present, prospects for subsidised L&D upskilling are extremely favourable; the 3CM team recommends that organisations act now in order to maximise existing opportunities.