Within L&D, there is the age-old dilemma, “What if we train our employees and they leave? What if we don’t and they stay?” What’s hiding between the lines? There is both great cost in training and losing employees, and even more so in not training them at all. Massachusetts provides grants to help supplement this effort. So, you want in on the money? Here’s what you need to know:
Why do programs like this exist?
Massachusetts (and many other states) want a low unemployment rate. Low unemployment = less strain on the government to support people out of work. One of the programs the government has enacted provides grant dollars to companies for training. Productive companies need a skilled workforce, and a skilled workforce results in a productive company. Massachusetts recognizes that contemporary training and development is one of the mechanisms that enables the realization of this goal. The hope is to make employees more skillful which in turn creates a more productive company. And what do more productive companies need? More people to help with all that growth!
How do we get our slice?
This is where the work comes in. The grant process is tough. The Commonwealth needs to clearly understand why your company deserves their investment. Companies need to show the merit in your training and development as well as how you will measure it’s effectiveness.
There are a few different options to get through the main strain and get to the good stuff.
- Keep paying out of pocket. Now that you know about these programs, are you really going to let that money slip away?
- Do it yourself. It will take time but the employees at the Workforce Training Fund are always willing to help.
- Hire someone to do it for you. There are two different options here:
- Some companies will write the grant application for you “free of charge”. However, you will generally be required to use ONLY that company’s training program, which may or may not best fit your organization’s goals.
- Hire a grant writing company, such as Building PPL, to write the grant based on your company’s goals while sourcing the best vendors. They will work with you to understand what your business needs are, research vendors to fit those needs and write the grant for you. They charge a flat rate of 5% of the grant only after you are awarded the grant.
So what are you waiting for? Get working to provide your employees with growth opportunities that will benefit them and the organization. What do you have to lose?
