The RBC Talent Fund is a wage subsidy program aimed to benefit entrepreneurial led companies based in the HRM area. In partnership with the SMU Co-operative Education Office, the program can help grow your business by adding bright young talent to your team through the hiring of SMU students.
RBC Talent Fund Provides
A wage subsidy that can cover up to $3,150 per hire
Flexibility for employers to choose between a part-time, full-time or co-op term hire
Assistance with job posting and short listing of candidates
Training and mentoring for participants to enhance their work experience
Advice and monitoring throughout the program to ensure participants and employers are receiving the best possible experience
Full Time Hire (16 weeks)
The wage subsidy can cover 50% of the wage, up to $7.50 an hour for the first 12 weeks (based on a $15/hr wage), leaving the employer to fully fund the final 4 weeks
Part Time Hire
The subsidy can cover 37.5% of the total wage (or up to $5.63 an hour) for a work term covering up to 240 hours (based on a $15/hr wage)
• A simpler way to breakdown the math is to say that the wage subsidy would cover 37.5% of the total wage or up to $5.63 an hour (based on a $15/hr wage), for both options
Employer Requirements
The company must be in its early stage of development and be located in the Halifax Regional Municipality
The hire must be a Saint Mary’s University Undergraduate Student
Provide a minimum of $15/hr wage to the new hire
Coverage of MERC (mandatory employment related costs) – CPP, EI, Vacation Pay
Assign an organization supervisor to act as a mentor for the participant
Full Time Hire (16 weeks)
Provide a 16 week work term covering 35 hours per week
Part Time Hire
Provide a work term covering up to 240 hours in total
Employer Application
For more information, please contact talenthub@smu.ca
Made possible through the RBC Foundation in support of RBC Future Launch. For more information please visit https://news.smu.ca/news