Recovery of training costs policy template

Name: Recovery of training costs policy template
Brand: hrdocbox.co.uk
Price: 20 GBP

£ 20

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This policy outlines the recovery of training costs for when employee leaves employment while undertaking sponsored training, or for a specified period of time after its completion.

How long to understand and prepare this policy?
5 mins

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What is a Recovery of training costs policy?

The purpose of this Recovery of training costs policy template is to provide you with a flexible and customisable document to serve as a robust and effective starting point for you.

By using our Recovery of training costs policy template, you can streamline your process, maintain consistency and accuracy, and save time, and it can be easily adapted to fit your specific scenario.

When should this policy be issued?
During onboarding / after changes / planned refresher

Who should issue this policy, and to whom?
Internally issued to appropriate recipients in your Company

In which jurisdictions can this policy be used?
Great Britain & NI (United Kingdom), Worldwide

Recovery of training costs

Overview

This policy sets out rules on how training costs may be recovered if an employee leaves employment while undertaking sponsored training, or for a specified period of time after completion.

Scope

This policy is applicable to all employees of [company name].

General principles

In the event that you leave employment for any reason [other than redundancy or long-term ill health] prior to the completion of the sponsored training, you agree to repay in full any contribution made by the organisation towards the costs of it [including monies paid under the cost of training clause for [books and materials] ].

If you leave the organisation within [12 | 24] months of completing the sponsored training for any reason [other than redundancy or long-term ill health], you will reimburse the organisation at the rate of 1/[12 | 24]th per complete month remaining of the [12 | 24]-month period after completion of the sponsored training, of any contribution made by the organisation towards the costs of the sponsored training [including monies paid under the cost of training clause for [books and materials] ].

The organisation reserves the right to deduct the relevant amount due to it under this clause from any sums due to you from the organisation, including (but not limited to) your [salary/outstanding expenses/outstanding commission/bonus/holiday pay]. If there is still an outstanding amount after making such deductions, you will be required to repay the outstanding balance to the organisation within [one month] of the date of termination of employment.

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This policy [does not] form[s] part of your terms and conditions of employment.

Version: [1.0]

Issue date: [date]

Author: [name, job title]

Who are some Companies who utilise our Recovery of training costs policy template?

Why buy our Recovery of training costs policy template?

It's easily editable and implementable, saving you time and money
It's designed by CIPD accedited Chartered HR practitioners with operational experience in this area
You will maintain compliance with ACAS guidelines, legislation, and industry best practices

What other advantages does buying from hrdocbox.co.uk offer?

Email notifications for any updates made to this template or its accompanying materials
12 months of unrestricted access without any additional costs (any update in that period is free to you)
A 25% discount on all library, toolkit, and template purchases/renewals

Recovery of training costs policy template

What is a Recovery of training costs policy?

Why buy our Recovery of training costs policy template?

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