Student debt is painful for college graduates today. They are unable to begin saving toward their 401K, start a family, or even buy a house due to their mountain of student loan debt.
In fact, the debt amounts are so high for these grads that approximately 40% of them are in default on their loans. In one word, this is a PROBLEM.
However, the issue could potentially be remedied by making student debt payoff a benefit of your company.
5 reasons to add this benefit to your package:
1. Top Talent
If you help college graduates pay off what they owe, then you’ll most likely attract the best of the best job seekers. These promising candidates quite possibly could be facing a large debt amount. If you help them pay their loans off, then they will be more likely to accept your position over another company.
2. Innovative Concept
The idea to add student debt pay off to a benefits package is, currently, considered to be more cutting edge, different and new. (Perhaps not for long!) Try and be innovative with your benefits package! You’ll secure better candidates for your open positions.
3. Recruitment Tool
Provide a little inspiration by offering this benefit in the recruitment phase. If you use the student debt payoff as a reason to work for you, then you’ll quite possibly grab more attention from job seekers.
Marketing this benefit is essential as you recruit and will make a difference to those poor broke college grads.
4. Slow to Implement
A company’s slow pace in adding this benefit has been a flaw. Don’t let that be your story. Implement it already! Please don’t drag your feet. Start now and stand out to those seeking employment.
5. Be Different
I know this benefit is a little new feeling. However, don’t be the last one around to make it happen! Choose to be different, fresh and original. You’ll hire more talented employees and help those grads along the way. Win-win!
Student debt is extreme these days. Job seekers would be entranced by such an offer to help them pay down debt and have a job with your company.
What are you waiting for? Get a jump start on your program and make a difference in the lives of your recently graduated employees.
Contact us today for more information.
Written for us by our associate Gary Sorrell, Sorrell Associates, LLC. All rights reserved worldwide.
Written by our associate Gary Sorrell, Sorrell Associates, LLC. All rights reserved worldwide.