Businesses like G&W Electric are saving thousands by participating in the Employer Training Investment Program (ETIP).
In today’s business environment, it’s no secret that companies are being forced to deploy unique strategies to retain employees. Dubbed “The Great Resignation”, employees are migrating from company to company at a faster rate than ever before making these strategies increasingly crucial.
So, what makes employees stay?
One of the biggest factors in employee satisfaction can be attributed to a feeling that their company is investing in their future through ongoing development. Upskilling your workforce has its advantages. Unfortunately, training costs can quickly add up, especially for scaling businesses.
The good news is that solutions do exist, and companies like G&W Electric have unlocked the golden formula of cost-effective retention through the Employer Training Investment Program.
ETIP is funded by a generous grant from the Illinois Department of Commerce & Economic Opportunity (DCEO) and provides Illinois businesses with the opportunity to be reimbursed 50% on eligible training expenses.
Reinvesting in Talent during Hard Times
Since the program’s origin in 2019, G&W Electric has used ETIP to train over 600 employees in areas such as leadership, electronics, and torque techniques. They have also standardized their Quality training package of SPC, APQP, FMEA and Internal Audits.
Chamber pre-qualified training providers worked with G&W Electric through new and imaginative ways to engage employees, including remote learning and break-out sessions for group discussion and comprehension activities.
In the same timeframe, G&W Electric saved over $200,000 in training costs, which was reinvested into additional training and COVID-19 response.
G&W Electric’s owner John Mueller has continued his commitment to investing in people throughout the pandemic. Essential business not only survived, but thrived, as G&W Electric continued to develop 41 Emerging Leaders and multiple quality professionals.
Value in the Numbers
Since 2019, more than 93 companies have participated in this program, resulting in 3,325 employees expanding their skill sets.
“The Employer Training Investment Program is a no-brainer for companies seeking a cost-effective method to retain and upskill employees. Funding is available and the Chicagoland Chamber wants to make sure Illinois companies are utilizing this benefit to its fullest extent.“
Jack Lavin, President and CEO of the Chicagoland Chamber of Commerce
Your business may be eligible if your company is physically located in Illinois and your trainees are full-time, Illinois-based employees. Check out the ETIP FAQ for additional information on eligble trainings, expenses, and requirements.
Check if your company is eligible to apply for ETIP funding!