Benefits to Business of Offering Work Placements to Business Students
Benefits to Business of Offering Work Placements to Business Students
Fresh Perspectives and Ideas
- Innovation: Work placements can bring in new ideas and thoughts that can lead to innovation in business processes or products.
- Diverse Viewpoints: Individuals from different educational backgrounds can provide a new perspective on existing business issues.
Skills Development for Workforce
- Mentoring Skills: Staff members develop their mentoring and management skills by guiding and supervising placement workers.
- Enhanced job satisfaction: Employee morale and job satisfaction can be improved by sharing their experience and knowledge with individuals keen to learn and grow in the business world.
Cost-Efficient Resource Utilisation
- Extra Resource: Work placements bring in extra hands at a relatively low cost to help manage tasks.
- Staffing Flexibility: In times of increased workload, these placements can take up some of the staff’s tasks, thereby relieving the pressure.
Talent Identification and Retention
- Potential Recruitment: Companies have the opportunity to identify competent and skilled individuals through work placements for future recruitment.
- Reduced Turnover: Individuals are more likely to remain with the company post-graduation if they’ve had a successful and rewarding work placement experience, reducing company turnover.
Positive Company Reputation
- Corporate Social Responsibility: Providing work placements to individuals willing to learn portrays the company as socially responsible, which can enhance its public reputation.
- Brand Promotion: The positive experiences of these workers can lead to word-of-mouth promotion of the company brand among their peers and family.