Apply for Human Resources Implementation Assistance
The Human Resources Implementation Assistance is designed to help new, existing and growing Prince Edward Island business. This will build value in your small or medium sized company through strengthened human resource skills. The support offers financial help to your Prince Edward Island business to gain the professional skills that will help in the design, development and fulfillment of your human resource plan.
Am I eligible for the Human Resources Implementation Assistance?
Human Resource Implementation Assistance contributes funds toward the cost of implementing the new HR strategies recommended through Human Resource Planning Assistance or a similar assessment. This support is available to new and existing Island-based companies that:
- Are implementing the recommended human resource strategy and policies identified in the planning phase
- Are a sole proprietorship, partnership, cooperative, or a limited liability company
What activities are supported?
Human Resources planning and fulfillment is an ongoing process involving the creation of policies and procedures that lead to a full human resource plan. Activities related to implementing a plan for long-term HR policies for the recruitment, development and retention of employees; and to strengthen internal skills to execute the plan and policies are eligible.
The HR policies may include, but are not limited to, the following areas:
- workforce planning and forecasting
- effective recruitment and interviewing
- training and leadership development
- performance management
- creating indicators to measuring effectiveness
- compensation, incentives and benefits
- work-from-home, remote work or flexible work arrangements
What is the level of assistance available?
Fifty per cent of the cost of hiring outside expertise for the design, development and implementation of a human resource plan focused on the growth and retention of employees. Maximum level of assistance is $5,000.
How do we decide who receives help?
Not all projects meeting the minimum criteria will receive funding. Other conditions when evaluating your application may include:
- Potential for long-term viability
- Cost benefit to the Province
- Employment creation/retention
- Availability of support funds
- Level of help from other government programs offered
The Human Resource Implementation Assistance requires monitoring. You must be prepared to provide information as requested on the outcomes of the process.
For each project approved, a signed letter of offer constitutes a contract between Innovation PEI and your business.
Should your project fail to comply with terms of the contract or come to an end, Innovation PEI may, at its sole discretion:
- declare your business to be in non-performance (default) of the contract;
- request your business to repay, in full, the incentive received; and
- take necessary legal action to collect the incentive amount, in full, with interest.
Application must be submitted before any financial or legal commitment is made on the project.
What do I need to apply for this service?
You should be prepared to provide the following:
- Business Plan Marketing Plan Project
- Feasibility or Market Study
- Competitive Analysis
- If the application concerns a study, please provide the consultant’s proposal(s) and the study’s terms of reference. (Costs should be supported by written quotations.)
What other information do I need to know before I fill in the application?
- Outline the history and description of your business.
- Existing businesses are required to provide detailed Financial Statements for the previous two years.
- New businesses and businesses planning expansions are required to submit complete business plans.
- List all shareholders and key management personnel.
- Describe the proposed project or activity in relation to the products and/or services delivered by your company.
- Describe the economic benefits to your organization and to Prince Edward Island.
- Provide detailed information on the estimated costs of the proposed project or activity. (Cost estimates should be supported by written quotations.)
- Outline all financial sources and provide appropriate contact information. (For example, lending institutions, banks, government loans and/or grants).
- Describe the size and capacity of your existing facility in relation to the proposed activity.
- Explain your current market position and identify your projected market outlining any increases in market share.