What Is The Training Agreement
The updated document must be used for authorized training employers and authorized trainers. Not only may your company not benefit from the training it paid for in the short term, but it could also end up paying for the same training again if it hires a replacement. Consider the sunken costs inherent in every hiring process, and you can see how that could potentially put a small business in a really tough position. Properly executed, training agreements are a completely legal and appropriate way for companies to protect themselves financially. However, if you decide to place one, there are a few things you should pay attention to. The following points usually include, but are not limited to: Some training agreements operate on a kind of sliding scale where the longer the employee stays in the company, the less he has to repay if he decides to continue. In other companies, the training contract is a little black and white, with a certain threshold prescribing when the employee is no longer responsible for reimbursements. You must agree on an approved training period that will allow your students to complete the required 450 days of practical work experience: again, it is above all the correct wording of the training contract that counts. The training agreement template provided above does the job in most cases, but sometimes you`ll need more specialized support. It is important that you encourage and monitor the development of your students throughout the training contract, not only to ensure that your students receive the training required to qualify as a chartered accountant, but also to encourage your student to stay with your organisation after qualification. .