Fundae bonuses: How to finance your company’s training?
Every competitive company needs to be training its employees on an ongoing basis. Although, at first glance, this may seem a problem for companies with little capital, the truth is that the vast majority of company courses can be paid for with external financing. This is known as Fundae fundings, a public program that grants credits to companies with the aim of improving their competitiveness.
Thanks to this program, the fact of training your employees does not have to mean an additional expense for your company. Quite the contrary. In-house training is a form of flexible remuneration, a method of payment that goes beyond direct remuneration. Therefore, with a good flexible compensation plan and a good implementation of training, your employees will feel more valued, which translates into improved job satisfaction. In other words, subsidized training can improve the work environment at a very low cost, without any additional cost.
But, what are Fundae credits? What are the requirements to apply for them? How can I calculate the training bonus that my company can receive? We tell you all about it!
What does it mean to subsidize your company’s training with Fundae?
Fundae subsidies can be claimed once the training of your employees has been completed. In that sense, the company will have to assume the costs of the training in the first instance, but a percentage of the cost will be returned. This figure varies depending on various parameters, such as the size of the workforce and the costs of the training, but a minimum of 50% of the costs is always returned.
Therefore, subsidizing your company’s training with Fundae translates into monetary benefits. It is clear that the courses to be implemented in each company are designed to improve its competitiveness, so that employees obtain or improve certain skills that will be useful in the workplace.
Therefore, corporate training is a form of flexible remuneration, of rewarding your employees for their services. But unlike other forms of flexible remuneration, subsidized training is not such a significant expense for companies, since part of its cost will be reimbursed.
Applying for training subsidies: necessary documentation, deadlines…
Of course, not all companies are eligible for Fundae subsidies; there are a series of requirements that must be met. The first and essential one is that the company must be registered in Spain and, therefore, pay taxes within the country. After all, the Fundae subsidies seek to improve the performance of Spanish companies, making it possible to finance everything from Excel courses for companies to language training.
On the other hand, it is essential to demonstrate that the company has successfully implemented employee training. The contract with the company that has offered the courses must be presented when applying for the subsidies. Another condition is that the employees who have enrolled in the course must have successfully completed it and attended the classes, and therefore diplomas or attendance certificates must be presented, depending on the nature of the course.
Finally, an invoice with the cost of the training must be submitted, as well as the application for the individual training permit (a document certifying that the training has been carried out during working hours). It will also be necessary to inform the number of workers in the company, which is important for calculating the amount of the Fundae bonus.
How to calculate my company’s Fundae bonus?
The process to calculate the bonus that your company will receive is very simple, although it is necessary to have access to certain internal data. The first of these is the number of employees, since the percentage of the amount of the courses that Fundae subsidizes depends on it: the fewer the number of employees, the higher the percentage of the subsidy. This figure is taken from the average staff size of the previous year.
On the other hand, it is also necessary to know the total contribution of the company’s employees for vocational training contingency. In other words, the amount the company has paid for vocational training. With these two figures you can easily obtain the amount of credit that your company can obtain. In this article we tell you exactly how to calculate the subsidized training credit.
Are you planning to train your employees this year and get a bonus for the training?
There are many companies that offer in-company training. And, although it is always possible to subsidize the training of your employees, carrying out the procedures is not always an easy task.
That’s why at Classgap for Enterprise we take care of everything to make training your employees as easy as possible. Not only do we listen to your needs and look for the teachers that best suit them, but we also manage all the administrative procedures for Fundae to subsidize the courses you choose.
If you want to implement training of any kind for your employees, but still need additional information, do not hesitate to contact us. We will be happy to assist you without any obligation.