Having trouble attracting good talent? Here's 1 simple benefit that can help you land the most sought after candidates. Student Loan Debt Repayment!
It's no secret that the cost of higher education has increased to the point where a 4 year college degree is causing serious financial problems for many recent graduates and their families. It has even been commonly referred to as the student debt crisis; and for good reason. In March of 2018 student loan debt totaled 1.5 trillion dollars according to the Federal Reserve. Professionals from Teachers to Nurses have taken to driving for Uber and Lyft to earn extra income. Coupled with the cost of living in major cities and the burden of student loans, many young professionals find it impossible to consider buying a home or in many cases even living on their own.
So what does a newly minted grad or one with a few years under their belt consider important when weighing job opportunities? You can bet student loan debt repayment is now one of the most important benefits they are seeking. They are not asking for more ping pong or bean bags or happy hours at work. They actually prefer help with relieving the stress they incur each month from high student loan payments! The prove is in the statistics.
Enter your competitive advantage here!. Seek out a few of the companies like Goodly who are leading the charge to help bring this benefit to companies.
When you are able to offer this benefit to a perspective employee who may have loans you will certainly have their attention vs. your competitor who doesn't offer the benefit.
For more information check out this article by SHRM.