Are you on the lookout for dedicated employees to serve your startup? Do you want to minimize employee cost and invest in other potential areas of making profit? Do you want creative and dynamic energy to fuel your new business ideas? Hiring co-op students is a sure-fire way to hire employees with unwavering determination and the zeal and zest to reach unprecedented heights. This deal ends up benefiting both the parties, in the long run.
What do you mean by Co-operative education?
Co-operative education is a meaningful learning strategy which involves experiential learning. What is better than applying the knowledge gained from books in the practical world? Giving enthusiastic students who have the will to learn a chance to integrate their education experience with hands-on experience in the corporate world will be beneficial for both the student and the market.
It is different from internships as it alternated with a school term and is a form of structured training that allows students to make the transition from academic to professional life smooth. It is based upon an official deal signed between the academic institution and the employer to help students progress in his relevant field and gain related experience to acquire a credible permanent job.
Co-op Hiring- a viable alternative for small businesses
Since small and recently started business ventures are on the constant lookout for cost-cutting methods, co-op provides a worthwhile and versatile opportunity to hire new employees. Are you loaded with short-term projects that require innovative insight with economical investment?
- To minimize risks associated with hiring and recruitment, employers can opt for co-op students to evaluate a student’s level of knowledge, skills set, reliability and the prospect of hiring that individual as a permanent employee. A pool of co-op students then becomes potential candidates for a vacant job position.
- This type of hiring is cost-effective and does not entail any long-term commitment to be made hence effectively lowering permanent employee recruiting costs.
- By hiring young blood, who have the passion to learn and excel and are up-to-date with the latest technology helps the company stay abreast with recent market trends. Co-op students on the other hand get an extra source of income which helps them save while they are in college.
- Co-op students are a great source of relief in times of extreme pressure, when deadlines are on the head and existing projects need to completed and delivered on time. Some new projects that are waiting in the pipeline also get a push to be started with extra help.
- Employee retention is higher with co-op students as those who prove to serve the company in the best of their abilities are offered a permanent position in the company. This reduces the effort and cost of recruiting and hiring new employees.
Costs associated with Co-op
Co-op employers are usually small business based. This is because they have meager and dear amount of money to allocate to the hiring of employees. A salary amount is unanimously decided upon depending on the skills set possessed by the student, the resources within which the employer is working and the trending industry standards that sets the bar. Salary options are always negotiable, but the situation is always a win-win for the co-op employer.
Hiring co-op students is certainly a workable and feasible option to opt for, for small business as you will be nurturing students’ talent and provide a dynamic platform to passionate students to further their study and practical work goals helping them excel and identify their talents.