Google Skills Training Program: With the $100 million Google Career Certificates Fund, Google will enhance its skills training and job agency plan for low-income people in the United States on February 17, 2022. The fund will pay for the training programme in advance. And Individuals have to repay the loan if they acquire a job paying $40,000 or above per year.
In recent times, major IT companies have increased one’s efforts to support staff and worker skill development. For example, Amazon has instituted a scheme to cover the tuition costs of staff members enrolled in college, and Google has announced a digital vocational training system called “Google Career Certificates”.
Google Skills Training Programme- Announcement
On February 17, Google announced the formation of ‘Google Career Certificates Fund,’ a $100 million fund to encourage students pursuing skill training. The fund aims to give training programmes in skills that will help those without a degree, who make up two-thirds of the workforce in the United States, find better jobs.
There is also Social Finance, which generates cash and creates appropriate payback plans for training programme participants, Year Up. Year Up offers training programmes for underprivileged individuals , and technical programmes for those without a degree. We’re collaborating with Merit America, a group of three non-profit organisations that provide training. The fund’s cost is given to Google Career Certificates, Year Up, and Merit America via Social Finance, which specialises in finance and payback planning.
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People with a fund can attend a three to six months course without paying anything beforehand, and the loan is interest-free. Furthermore, only ‘graduates with a job with an annual salary of far more than 40,000 dollars’ are required to repay the loan; with a monthly repayment sum of $100 and payments lasting up to 5 years. Although not all students complete the programme and obtain a high-paying job; the repayment of loans by successful graduates aids in the long-term viability of the training programme.
Google is also planning to sponsor more than 20,000 trainees through this fund. This is resulting in a $ 1 billion wage rise. ‘This is to enable the eco system, from private businesses to organisations, working together to give financial opportunity to more Americans ,’ said Google CEO Sundar Pichai at the fund’s inaugural event. ‘It’s another promising example,’ he added; saying that it would be a reasonable alternative to typical government training programmes. And it will would establish a standard for other businesses.
Google is providing training to many learners under Google Career Certificates, Year Up, and Merit America. Moreover, Year Up, a programme that gives technical training to low-income workers between the ages of 18 and 26; reports that 80% of graduates find work within four months, with an average beginning wage of $44,000. This is more than double the pre-study income. Merit America also boasts a graduation rate of over 80%, and the majority of them have found work.