New Jersey has announced a financial hiring incentive to employers through the state Department of Labor and Workforce Development (LWD) if they hire and train former pharmaceutical industry employees. Employers willing to hire displaced pharmaceutical workers may reduce the cost to train new employees under this new on-the-job training program, which will reimburse each employer up to between 50% and 90% of a new hire’s salary for up to six months and a maximum of $14,000
“As a former business owner, I fully understand the expense associated with training new employees. This is an opportunity for employers to bring on new staff and offset their training costs. This program benefits employers and employees and will help stimulate job growth here in New Jersey,” said LWD Commissioner Harold J. Wirths.
New Jersey employers from all industries are eligible to participate in this program, which is commonly known as an on-the-job training program, as long as the prospective new hires are among the former pharmaceutical industry workers covered under a National Emergency Grant first issued to the LWD by the U.S. Department of Labor in 2010.
The program is being offered under a federal grant obtained by the LWD in October 2010 and managed in collaboration with the state’s Life Sciences Talent Network at BioNJ. It is designed to help workers who were displaced from the pharmaceutical industry due to the economic down-turn by providing job training and assistance in finding new employment.
New Jersey applied for the grant to keep the state’s pharmaceutical talent in the state and maintain New Jersey’s economic competitiveness. The workers covered under the grant include those who were displaced from approved locations of Bristol-Myers Squibb, Hoffman-La Roche, Johnson & Johnson, Merck and Pfizer companies.
Under the new on-the-job training component, employers will not incur any fees and LWD or the Life Sciences Talent Network staff will pre-screen applicants for eligibility or will assist in qualifying candidates prior to the actual hire.
Funds for this program are available for a limited time.