Small businesses looking to grow in the digital age should consider hiring youth to strengthen their workforce and support their digital adoption plan. This was the key message from a recent webinar with Magnet, a platform that helps connect employers with young talent for paid work placements. In this article, we'll recap the main takeaways from the webinar, highlighting the many benefits of hiring youth and two programs available to help you hire youth for your business.
Why Hire Youth?
It's important to prepare young people for success in the global economy. Prosperity for all Canadians is directly linked to our ability to support and prepare young people as they enter the workforce. Young people bring a lot to the table, including digital skills relevant to executing a digital adoption plan. As well, young people are motivated and eager to secure opportunities for their future, making them ideal candidates for small businesses looking to grow.
Benefits of Hiring Youth
Some of the benefits of hiring youth include:
- Increased productivity: According to research from the University of Waterloo, every $1 invested in Work Integrated Learning leads to $2 of productivity. Work placements and subsidized youth hiring can lead to increased productivity in the workplace.
- In-demand skills: Young people bring a range of digital skills to the table, including social media expertise, open-mindedness, and energy that can invigorate your organization.
- Access to a national talent pool: Hiring youth allows you to access a diverse talent pool of young people with different skills, expertise, and backgrounds.
- Brand ambassadors: When you give a young person a great employment opportunity, they become an ambassador for your organization, sharing their positive experiences with friends and peers.
The University of Waterloo study also found that young people are wired to innovate and challenge the status quo. Moreover, their brains are wired for creativity and innovation, making them valuable assets to small businesses looking to grow and innovate.
How to Hire Youth
The Canada Digital Adoption Program (CDAP) Boost Your Business program offers a wage subsidy of up to $7,300 for businesses that hire a youth employee to support their digital adoption plan. This subsidy can be a powerful tool for businesses, as it can cover a significant portion of the wages for the new hire. For example, if a business hires a systems analyst for $25 an hour for 450 hours, the total cost would be $11,250. With the wage subsidy, the business would only pay roughly $3,900 for $11,000 worth of work, making it a no-brainer investment.
The Boost Your Business program has already had success stories, with employers hiring students to work on crucial features for clients. In some cases, employers have even hired students as full-time employees after the wage subsidy period.
Other Ways to Hire Youth
For those who do not qualify for the CDAP Boost your Business program, the Magnet Student Work Placement Program (SWPP) is a great alternative to consider. The SWPP is a wage subsidy program that helps employers create quality work-integrated learning opportunities for students. It provides funding to eligible employers to offset the cost of hiring students for paid work experience, allowing them to gain valuable skills and experience while also supporting the employers' business goals. The SWPP is available to small, medium, and large employers in all sectors, and employers can hire students from any Canadian post-secondary institution. To learn more about the program and how to apply, visit the SWPP website at swpp.magnet.today.
Conclusion
There are many benefits of hiring youth and integrating digital skills into your small business. Young people bring energy, innovation, and a range of in-demand skills to the table. By hiring youth, small businesses can access a diverse talent pool, increase productivity, and prepare young people for success in the global economy. If you're a small business looking to grow in the digital age, consider hiring youth through the CDAP Boost Your Business Program or the Student Work Placement Program.