Small Business Resources- Hire Co-Op Students

by Dawn Fotopulos on June 24, 2011

Small business resources that are dependable and professional can make or break your growing company.

Will Rico of Common Mind and I were having an interesting conversation today about how to find great subcontractors.

Common Mind was looking for administrative support and hired a firm based in India that didn’t deliver. What Will realized was that labor costs have risen so much in India because the competition for talent has gotten so fierce. The net result is you can pay U.S. wages to someone in India and not receive the best service.

Looking Stateside, there are so many talented people in the U.S. now looking for work, you can find incredible small business resources that won’t break the bank. Here’s where Will found his best small business support..

Will hires co-op students from Northeastern University which takes training and placing their co-op students very seriously. He’s had five interns so far, all of whom have proven to be super smart, responsible and teachable. Each student spent six months with Common Mind.

The challenge in hiring a student for six months versus a firm in either India or the U.S. is that you have to pay social security, disability and unemployment insurance for these co-op students as if they were full time employees. For the six months they work for you, they are.

The real cost to this is the administrative burden it places on your business to ensure you’re meeting all the filing obligations required. Speak to your bookkeeper or accountant. It might well be worth your while.

By hiring a smart college co-op student who wants to grow, you get great talent at a reasonable cost.

Northeastern College will help you screen for a suitable short term, full time employee and even make recommendations for students who would be a fit for your company.

That reduces your hiring risk of finding small business resources that can hit the ground running from the first day on the job.

You also get the opportunity to invest in the next generation. This talent management strategy reduces costs and can improve profits. Learn many more ways to boost profits by watching our training videos here.

If you know of a college that offers great co-op students or interns, let us know. We’ll post it.

Isn’t it time we engaged all the rich talent we had in the U.S.? We’ll continue to find sources for the best small business resources for our readers.

Looking forward to hearing from you.


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