Why Investing in Early Career Talent is Good Business

In today’s competitive labor market, the demand for skilled, adaptable talent has never been higher. Investing in early career talent has become a powerful strategy for employers seeking to secure their future. By partnering with organizations like Education at Work, companies can access a pipeline of motivated, tech-savvy college students eager to bring fresh perspectives and energy to the workforce. This blog explores why investing in early career talent is not only beneficial for the future workforce but also an innovative, forward-thinking business decision for today’s employers.

The Challenge: Attracting and Retaining Skilled Talent

Employers across industries face a common challenge: attracting and retaining qualified talent. With unemployment rates for skilled workers at historic lows, competition for top talent is fierce. According to a survey from ManpowerGroup, nearly 70% of companies report talent shortages, and many need help filling key roles, particularly those requiring advanced digital skills and adaptability.

This shortage often means higher costs as companies compete to attract mid-career professionals or need to increase wages to retain current employees. Additionally, younger generations of workers, such as Gen Z, have shifted workplace expectations. They seek career development, purpose-driven work, and flexibility, often leading them to pursue roles offering growth and stability over traditional career tracks. These expectations make employers need to reimagine their talent strategy to include younger talent ready to grow within the organization.

The High Costs of Turnover and Recruitment

Turnover is costly – and not just in terms of direct recruitment expenses. The Society for Human Resource Management (SHRM) estimates that the average cost per hire is around $4,700, and for roles that require specialized skills, this figure can exceed $10,000. Additionally, the expenses related to lost productivity, training, and onboarding can further stretch budgets. (Fit Small Business)

Gallup reports that U.S. businesses lose nearly $1 trillion yearly due to voluntary turnover. When companies can’t retain employees, they face higher recruitment costs and disruptions to their operations, which can hurt team morale and reduce productivity. By hiring students early in their careers, companies can address these pain points more effectively. With the proper onboarding and mentorship, students are often more likely to grow and stay within an organization, saving employers time and money. (Gallup)

The Benefits of Hiring Student Employees

• Financial Returns: Hiring early career talent presents a clear financial upside. Students entering the workforce through a structured program, like those offered by Education at Work, bring relevant skills at a competitive cost. Organizations benefit from a lower cost-per-hire and have the potential to shape these young professionals to fit their company culture and needs. Employers can reduce their reliance on expensive recruiting tactics by investing in students who become long-term contributors, thus minimizing turnover costs.
• Enhanced Company Culture: Working with students fosters a culture of growth and mentorship within organizations. Seasoned employees become mentors, creating opportunities for knowledge-sharing and promoting leadership skills. This development culture can attract more high-potential employees and enhance team morale, as employees at all levels contribute to developing the next generation of talent.
• Diversity and Innovation: Student hires bring new ideas and a fresh perspective to the workplace. Partnering with organizations like Education at Work ensures that companies access a diverse range of talented young people who can contribute innovative solutions to modern challenges. This infusion of diverse perspectives helps organizations stay agile, culturally aware, and forward-thinking – essential qualities in today’s fast-paced business landscape.

Why Partner with Education at Work?

Education at Work specializes in connecting employers with college students who are eager to build their skills. These partnerships allow businesses to address immediate staffing needs and foster long-term workforce development. Employers can create a robust early talent pipeline by investing in student talent through a dedicated program, supporting sustainable growth and competitive advantage.

When businesses invest in early career talent, they aren’t just hiring for the present – they’re building a more agile, resilient, and innovative future. Partnering with Education at Work ensures employers can access motivated, skilled students ready to contribute and grow, making it a win-win strategy for today and tomorrow.  Contact us to learn more.