HOW CAN I CALCULATE MY COMPANY’S BONUS TRAINING?
Any company that is concerned about business growth knows perfectly well what bonus training is, its ins and outs, that it brings numerous advantages and that it is key to the development of professional skills and the development of the company in its field of work. There are many courses that you can take advantage of to train your employees according to their needs, it all depends on the company and the objectives that you have set for yourselves.
Even so, it can sometimes be complicated and time-consuming both to apply for the training credit granted by FUNDAE and to calculate how much the company is entitled to.
To speed up these processes, there are tools such as the bonus calculator that allows you to find out, completely free of charge, how much money you can save by training your employees. If you still want to find out how this process works and calculate it yourself, we’ll tell you about it below.
Calculation of the bonus training credit
First, you must be clear that, in order to calculate the bonus training credit you are entitled to, you must know the number of employees in your company (in reference to the previous year’s workforce), as the amount you are entitled to depend on this.
If there are 1 to 5 employees in your company, then you will be paid €420. This amount is a fixed bonus credit determined annually by the administration.
If you are more than 5 workers, you will have to use the following formula to see the total amount of training credit you are entitled to:
The formula does not usually change, but just in case, check the contribution bulletin for December of the previous year.
On the other hand, you have to take into account that the training credit will be affected by two variables: the maximum eligible cost and the private co-financing. Don’t worry, we know it’s all Greek, that’s why we’ll explain everything below.
Maximum eligible cost
Depending on the number of employees in your company, you can subsidize all or only part of the training. In the following table you can see the respective percentages:
On the other hand, also depending on the number of workers, the company itself will have to contribute a percentage of the training cost of its workers.
“The difference between the total cost of the training and the subsidy applied by the company will constitute the private contribution made by the company for the purpose of calculating the minimum percentage of co-financing required from the companies out of the total cost of training.”
If the employee’s training is provided during the employee’s working day, no additional financial payment would be necessary, as the costs would already be covered by the company.
It is important to bear in mind that the private co-financing is annual and that, once the workers have completed the training, it will be checked that all the requirements have been met and that the training has been carried out correctly. If this is not the case, the training credit granted may be lost.
Tools for calculating my company’s training bonus
As we have already mentioned, although you can calculate the company bonus yourself, if you are not very familiar with the formulas or the company data, this can be a difficult and stressful process. For this reason, different tools have been created so that this calculation process can be automatic and no time or effort is wasted in its development.
At Classgap for Enterprise we have developed a totally free tool that gives you all the information you need to know in less than 24 hours, the “bonus calculator“! We also take care of managing the whole training bonus process for your employees.
If you want to start training your employees but you are not quite sure how to do it, we can help you. We have a free audit service in which our professionals determine the training deficiencies of your workers and will help you to establish real objectives so that your company can update and grow as much as possible.
If you want to know more about bonus training and how to get a bonus, here is a free guide on everything you need to know to understand it perfectly.
Do you want us to help you with the bonus process? Don’t waste any more time and contact us today!