All companies have a common goal – to increase their revenue – and there are many ways to accomplish this. One of the most important, however, is through hiring employees.
As a business owner, your company’s job creation efforts provide more to the economy than you may realize. This isn’t just about boosting numbers or adding bodies to fill desks. More jobs mean more people who can spend money on their personal needs and wants.
In these tough economic times, it’s important to help others understand why this is so important. Although your type of business might not seem like a “job creator,” it can be by offering students and undergraduates an opportunity that they cannot only benefit from but will remember for years to come.
Job creation is so beneficial for both companies and students because it increases the revenue of both parties involved. At the same time, job creation allows students to gain invaluable experience in their field of study.
What Does Job Creation Actually Mean?
Job creation refers to a situation where a new employer enters a market and offers employment opportunities to people who would not have been available otherwise. It can be seen as an “additive” factor of production because the more jobs there are, the better off society is by having more access to goods and services than they would have if employers were not competing to hire employees.
So how can business owners help put undergraduates and students on a path toward success? – By offering individuals their first career experience and giving students and undergrads a chance to gain practical knowledge in an attempt to bridge the gap between education and employment.
Here Are Five Ways That Businesses Can Create More Jobs:
One solution is through offering summer internships or entry-level management positions. During these opportunities, students will not only be able to build their resumes, but they will also gain the soft skills needed for future employment.
However, keep in mind that when hiring any individual to work at your company, it is vital to have an internship agreement or contract in place with all of the imperative information stated.
Interns and apprentices often receive a small allowance throughout their term of work, making it easier for them to afford living expenses while gaining valuable experience in a new industry.
A relationship with a local college or university is also beneficial because it helps build a pipeline of potential employees who already have knowledge of your company’s culture and practices.
Hiring interns will also give you the opportunity to determine which individuals might be a good fit for full-time employment once they graduate.
- Create Apprenticeship Programs
Many companies are interested in having skilled workers on staff who can contribute immediately with little guidance or training required. Apprenticeships are a great way to bridge this gap.
College students can work part-time in an apprenticeship program while studying for their degree, giving them the opportunity to jump right into a new career without committing to full-time work until graduation.
- Hire Graduates
When it comes time for college students and recent graduates to begin searching for jobs and gain real-world experience, they quickly become disillusioned with their options.
According to one survey, 57% of college grads entering the workforce said they were unhappy or depressed because they couldn’t find employment that was right for them.
When planning for business growth, it’s important not to forget about graduating students that may need opportunities for advancement or new experiences in their field of study.
College grads have fresh skills and knowledge in their discipline, making them an invaluable asset to any company with openings in similar roles. Hiring recent graduates is a great way to attract top talent while creating more entry-level jobs for others hungry to prove themselves early in their careers.
- Offer Growth Opportunities
Whether you are hiring new graduates or experienced professionals, it is essential that companies offer them the opportunity to move up in the company and take on more responsibility.
Millennials highly value career advancement opportunities and chances to learn new skills — so providing these kinds of opportunities will help attract younger employees while encouraging their loyalty and commitment.
- Employ Retirees
If your company is looking to downsize, consider hiring older workers who are near or at retirement age. Experienced individuals can share their wealth of knowledge with other employees and take on projects that younger workers might not be equipped to handle.
This also gives retirees a financial cushion without requiring full-time hours, which might be difficult for them due to physical ailments related to ageing.
The Benefits Of Hiring Young Adults
Creating opportunities for college students and recent grads is also beneficial to business owners because it gives you a new avenue through which you can market your product or service.
Internships and apprenticeships allow companies to train potential employees while creating positive exposure in the community.
By hiring graduates, businesses are able to benefit from younger workers with fresh ideas who may be willing to try different strategies or attempt new tasks that older staff might find overwhelming or intimidating.
Finally, hiring interns and graduates gives your business a chance to build connections with colleges and universities in the local community.
These institutions might be able to send you a steady stream of promising young students looking for an opportunity for advancement or guidance as they take the first steps toward a fulfilling career.
By offering internships and apprenticeships, companies will attract talented employees who want to grow with the company instead of only focusing on salary. Instead of just filling open job positions, these strategies allow small businesses to grow and develop a team of dedicated employees.
The Bottom Line
Hiring undergraduates and students can have many benefits for your business. Not only do you gain passionate, hard-working employees, but also fresh ideas on how to improve operations.
If you remember what it was like as an undergraduate or student, try hiring someone with those same traits (e.g., enthusiasm, ability to learn quickly, etc.) as opposed to those applicants who already have experience working at another company. Doing so will boost morale across your company and potentially increase profits.