Finding and retaining talent remains a priority for employers across the Charleston region. While every business approaches hiring differently, there are resources available that can help reduce costs, mitigate risk and create opportunities to connect with qualified candidates who may otherwise be overlooked.
The South Carolina Department of Employment and Workforce (SCDEW) offers two programs designed to support employers while helping more individuals enter and succeed in the workforce. Whether you’re growing your team, filling hard-to-staff positions or exploring new talent pipelines, these programs may be worth considering.
Lower Your General Tax Liability as You Hire New Staff
The Work Opportunity Tax Credit (WOTC) program provides tax credits for businesses each time they hire a new, eligible employee. The program is simple. Businesses make the hiring decision and complete minimal paperwork to apply for the credit.
With absolutely no limit on the number of qualified hires your business can claim, you can receive a maximum credit anywhere from $1,200 to $9,600 for each one of your eligible employees. Take advantage of the WOTC program and increase your return on investment while helping targeted employees become self-sufficient and earn a steady income.
To learn more about the Work Opportunity Tax Credit, contact the South Carolina Department of Employment and Workforce at wotc@dew.sc.gov or visit: www.dew.sc.gov/work-opportunity-tax-credit.
Expand Your Candidate Pool & Mitigate Risk
Federal Bonding is a fidelity insurance program that helps employers confidently hire jobseekers who are considered “at-risk.” The program provides risk mitigation for employers willing to hire employees who may be hard-to-place due to circumstances such as judicial involvement.
The fidelity insurance coverage can be issued from $5,000 to $25,000 for the first six months of employment at no cost to either the employer or the employee.
To learn more about the Federal Bonding Program, contact the South Carolina Department of Employment and Workforce at FederalBonding@dew.sc.gov or visit: www.dew.sc.gov/federal-bonding-program.
Supporting Workforce Success
Strong workforce development depends on a variety of strategies and partnerships. Programs like these provide employers with additional tools to address hiring needs while creating pathways to employment for individuals working to overcome barriers to workforce participation.
To learn whether either program may be a fit for your organization, connect directly with SCDEW using the resources above.
