Looking for a cost-effective solution to recruitment? In an economy with labour shortages across industries, co-op student opportunities are a great way to develop students into loyal, life-long employees. Most Co-op positions align with the school calendar, starting in September, January, and May. Terms typically last four months, with some work terms lasting up to 16 months.
Why Hire a Co-op Student?
- Reduced cost: A C.D. Howe Institute Report on Co-op programs concluded that employers benefit from streamlined recruitment and screening processes, and the ability to bring in specific talents and skills for short-term needs. Meanwhile, students benefit from developing industry-specific workforce skills while earning income.
- Flexibility: The short contract allows employers to recruit short-term help for a particular project and provides students with the skills they need for the future. Students that fit in well can be considered for future positions.
- Fresh: Co-op students use these positions to gain valuable experience and are eager to gain connections and references. They often approach these positions with great energy and enthusiasm. Plus, students can offer up-to-date skills, the latest technology skills, as well as fresh ideas and perspectives.
- High Retention: A 2019 NACE study showed that employers chose to keep more than 50% of Co-op students on after their contract. Those that stay on often stay on for good. The one-year retention rate for Co-op students was 50% compared to 42% for those who had no previous internal experience. After five years, the Co-op student retention rate was 35%, compared to 28% for those who did not have previous internal experience.
- Ontario Co-op Education Tax Credit: Did you know that employers who hire students enrolled in a Co-operative education program at an Ontario university or college may be eligible for a tax credit? Employers can claim 25% (30% for small businesses) of eligible expenditures– up to a maximum of $3,000 per placement.
How to Hire a Co-op Student in Simcoe County
There are ample opportunities to tap into local Co-op student programs:
- Georgian College: Georgian College’s Co-operative Education and Career Success Team works to match employers with students and graduates. This free, one-stop, year-round job posting service promotes your organization to students and graduates seeking Co-op, internship, full-time, casual, part-time and summer positions. Please contact careerandcoop@georgiancollege.ca with your company and job opportunity information.
- Lakehead University: Lakehead University’s Co-operative Education program has a continuous cycle throughout the year, which includes job postings, interviewing and selection. Please contact coop@lakeheadu.ca with your company and job opportunity information.
- Secondary School Co-op Opportunities: When contacting secondary schools, letting them know what you are looking for – much like a simplified job ad helps connect interested students with your opportunities. Since Co-op is a learning experience, paying students is optional at the secondary school level, and at the discretion of the business, as students earn credits as they gain skills. To get involved in the Co-op program at the Simcoe County District School Board businesses can contact their local school by completing this expression of interest form. Once submitted, staff will connect with you. For additional information, please click here.
To get involved in the Simcoe Muskoka Catholic School Board Co-op program, employers are encouraged to reach out to individual schools directly and ask to speak with the cooperative education department.
If you’re looking for a great opportunity for your business that also supports our future workforce, consider participating in one of many regional Co-op student programs.
Articles:
- www.georgiancollege.ca/student-life/student-services/co-op-and-career-services/employers/
- https://www.mentorworks.ca/blog/government-funding/ontario-cooperative-education-tax-credit/
- Discover Lakehead University’s Co-operative Education Program, and become a co-educator today!
- https://www.cfib-fcei.ca/en/tools-resources/hiring-co-op-student-manitoba
- https://smallbusinessbc.ca/article/hiring-co-op-students-why-its-good-for-business/#:~:text=Co%2Dop%20provides%20a%20flexible,with%20a%20potential%20job%20candidate.
- https://uwaterloo.ca/co-op-can-boost-business-bottom-line/sites/ca.co-op-can-boost-business-bottom-line/files/uploads/files/c018437_blitz_campaign_white_paper_edit_print3_accessible_final-june_1.pdf