When a potential employee considers a new education program, the study costs are typically a main factor in the decision. So much so, it can also be a limitation to their growth. It’s a challenge for individuals who are interested in gaining new knowledge that accelerates them in their career but have a difficult time affording the costs of the program.
While study costs can determine whether an individual pursues the program, this will be further strengthened by upcoming changes in the tax system in the Netherlands. After 2021, individuals can no longer make use of the current education tax benefits, creating a larger financial obstacle for the individual. This change however, doesn’t apply to companies who can still receive tax refunds on employee education costs.
In the upcoming years, we may start to see more and more people choosing not to pursue a new study program in the Netherlands because of the costs associated with it. This is a pitfall we want to avoid. Instead, we want to introduce the solutions to keep students motivated in their career growth and help companies find the right talent needed to grow their business.
As we're already seeing a shortage of developers in the tech workforce, this gap will only increase if companies don't focus on enabling new developers' careers and supporting their growth. If you want to hire the best developers, making the investment in new talent can greatly benefit both the employee and your company.
How will the tax system changes affect education costs?
The Dutch government has decided to change the tax system for education costs. If a student makes study costs in 2021, they can still get a tax deduction. As usual, students can declare the costs in their tax filing in 2022, so costs from 2021 can be deducted. However, if the student makes study costs in 2022, their tax refund will be dramatically reduced. They will no longer be deductible. As a result, the amount of study costs paid will be significantly higher for the individual.
For more information about the changes in the tax system regarding education costs, read our FAQ here.
What companies can do to get the best tech talent
Recruitment can be expensive for companies. Not only do you want developers with business-applicable knowledge in programming, you also want your employees to be motivated and show these other high-potential traits. You may find developers who have extensive experience but lack the knowledge about current technologies or possibly lack a growth mindset.
These can end up costing the company more than making the initial investment in a well-trained junior web developer from an academy. No matter how your recruitment process is structured, hiring the wrong employee can also cost you way more than money: the organizational development of your company strongly depends on its human capital. So investing on the right person can actually determine your business' success!
That’s where Codaisseur comes in. By selecting academy-qualified candidates and training them to be job-ready web developers, we form this talent pool so your company can hire a passionate employee eager to continuously develop his or her own skills and grow in this career.
How Codaisseur closes the tech talent gap
At Codaisseur, we select candidates for our Full-Stack Web Development Academy that demonstrate qualified experience and high potential. We then train them and provide career building resources to guide them in becoming junior web developers immediately after they graduate. Not only do we teach our developers with cutting-edge stack and technical skills but also we prepare them for all the workplace challenges that they might face.
During the academy, we also host Virtual Hiring Events to bring our students and hiring partners together for recruitment speed dating sessions. You can become a hiring partner with Codaisseur to meet your new tech talents before they step into the job market. So if you're looking for a go-getter who will bring his or her energy and value to your team, you know what to do!