Client Spotlight: Funding Success for Vidyard
Hiring grants and wage subsidies offer Canadian businesses a valuable opportunity to grow their teams while managing the costs associated with onboarding new employees. These grants are designed to help companies attract and retain talent, particularly from underrepresented groups, by providing financial support that reduces wage expenses. Whether you’re looking to bring in fresh graduates or experienced professionals, hiring grants can make a significant difference in your recruitment efforts. They are available year-round, so businesses should regularly check in with us to see what funding options are currently open.
Vidyard’s Success with Hiring Grants
Vidyard, a leading video sales enablement platform, has successfully leveraged hiring grants to grow their team, especially by integrating co-op students into their workforce. Since 2013, Vidyard has partnered with our team of funding experts to secure grants and wage subsidies, focusing primarily on hiring software development co-ops.
Caitlin Neary, People Operations Specialist at Vidyard, plays a crucial role in maintaining this partnership. Upon joining Vidyard, she learned that hiring grants were a regular process for her team, and she continues to work closely with our team to ensure that the company accesses the necessary funding. This strategy allows Vidyard to hire enthusiastic and knowledgeable co-op students who bring fresh perspectives, updated knowledge, and new skills to the company.
“One of the biggest things is enthusiasm and excitement and a really good work ethic because they’re super stoked to be a part of a workplace to be in a full-time role and trying to make connections and learn as much as they can.” – Caitlin Neary, Vidyard.
The Funding Process
The funding process at Vidyard is streamlined and efficient. They hire in batches, and by the time one batch of funding is approved, they are already applying for the next. This process is kept alive by frequent communication with our team who ensures that Vidyard can consistently onboard new talent, keeping their team dynamic and innovative.
One standout success story involves a co-op student from Mohawk College who was hired as a full-time employee and quickly became a top performer. This individual advanced rapidly from a junior developer to an intermediate developer od, contributing significantly to Vidyard’s growth. This is a testament to the long-term value that comes with hiring grants.
Vidyard’s commitment to hiring co-op students has led to strong, ongoing relationships that extend beyond a single work term. For example, a co-op student hired last summer reached out this year to inquire about new opportunities. Given the overwhelming volume of applications for Vidyard’s co-op positions, identifying the right candidates can be challenging. However, with the support of hiring grants, Vidyard has been able to consistently bring in new co-ops each year, allowing them to build a database of talented students. By maintaining relationships with these students, Vidyard can confidently hire based on past performance, ensuring they bring on team members who are proven to excel in their roles.
Understanding Hiring Grants: Funding Amounts and Eligibility
Hiring grants typically offer:
- Up to 50% of wages, to a maximum of $5,000; or
- Up to 70% of wages, to a maximum of $7,000 for hiring from underrepresented groups.
To qualify for these grants, businesses must ensure that their candidates meet specific eligibility criteria:
- Enrollment: Candidates must be domestic students registered at a recognized Canadian post-secondary institution and enrolled in a program that includes a Work-Integrated Learning (WIL) component, such as a co-op.
- Legal Status: Candidates must be Canadian citizens, permanent residents, or individuals granted refugee protection under the Immigration and Refugee Protection Act, and they must be legally entitled to work in Canada.
- Employment Status: Candidates must be hired as employees, not as contractors or independent contractors, and must not replace displaced workers or fill roles left vacant due to labor disputes.
Given that these grants are available throughout the year, it’s important for businesses to stay informed about the latest opportunities. Regularly consulting with a funding expert can help ensure that you don’t miss out on valuable support for your hiring needs.
Find Out If Your Business is Eligible for Canadian Government Hiring Grants
Vidyard’s experience underscores the importance of hiring grants in building a talented workforce. By partnering with our government funding experts, they have been able to secure ongoing funding that supports their recruitment and growth strategies. If your business is interested in exploring similar opportunities, contact our team today to learn more about the hiring grants available to you.
