In the 21st century, an MBA remains one of the most lucrative and sought-after qualifications among many business organizations. Many companies hire individuals with business administration expertise today. A survey shows that over 80% of startups founded by MBA graduates were operational after three years! You can compare these statistics from the fact that 90% of startups collapse within a year.
So, now why should business owners employ the services of these administration professionals? While rumors dictate that the MBA degree has lost its value recently, statistics describe a different narrative. We’ll now explain some primary reasons why hiring MBA graduates can help your business flourish and succeed.
Benefits of hiring MBA graduates in your company
Several multinational corporations employ the services of MBA graduates, including tech giants such as Google and Amazon. During the pandemic, experts estimated that the digital industry’s demand for MBA students would increase by 10% in 2021. It has also been observed that adding more individuals with a business administration degree can improve your marketing and bolster your finances.
So, these experts can enhance your ROI, thereby making your company more profitable. No wonder MBA grads remain some of the most in-demand professionals in the business industry today. That’s why we’ll talk about some essential business advantages of recruiting MBA graduates to help your company grow:
1. They can fit any role
It’s a misconception that MBA graduates are only appropriate for the business sector or the financial industry. They’re also ideal for nonprofit organizations or government agencies and can even find employment opportunities in the entertainment industry. There are several conventional and nonconventional MBA fields for a graduate’s career advancement. That’s why different companies have shown interest in hiring MBA experts to increase their ROI and become increasingly profitable.
2. They stay longer
Hiring MBA graduates can help companies retain these employees and reduce their turnover rates. Many organizations suffer from the “revolving door” syndrome in which workers tend to switch to other careers after some time. However, professionals with business administration degrees tend to stick with their employers because they generally tend to land mid to senior-level jobs. It exhibits stability to your stakeholders and customers. Moreover, it reduces the expensive requirement to interview/conscript people to fill the gaps left by former employees.
3. They are leaders
A master’s degree in business administration prepares a person to handle leadership and managerial responsibilities. So, business owners who require candidates with headship expertise may give MBA graduates a chance! They can serve as mentors/leaders to their subordinates and even impart some of their wisdom to other employees. When faced with day-to-day challenges, these graduates don’t just wait for instructions silently. Instead, take the right action and resolve the problems successfully.
4. They think critically
Their critical thinking qualities make MBA graduates crucial assets to any company. We have Forbes claiming that 90% of in-demand employment positions created after 2010 require people to possess critical thinking abilities. It enables workers to observe situations rationally, collect the information scientifically, and receive feedback from everyone involved before reaching a verdict. They can help you arrive at in-depth solutions and suggestions to determine problems faced by the organization.
5. They are cost-effective
Some companies hesitate when it comes to hiring MBA graduates because they’re afraid of paying higher salaries. However, hiring these experts can become a cost-effective decision in the long run. MBA graduates don’t quit easily, and they’re more productive than other meagerly-educated employees you’re going to hire instead. So, hiring these experts will automatically help you increase the company’s ROI on human resources. Thus, many business owners are looking forward to recruiting MBA graduates.
6. They have connections
Studying to achieve a master’s in business administration doesn’t just prepare individuals for career advancement opportunities, but it also helps them connect with like-minded individuals. These people then leverage these connections to resolve issues that arise during their careers. Employers should employ the services of workers with correlations everywhere in the industry and influential relationships with relevant individuals/organizations. These associations with professionals often come in handy.
7. They perform effectively
Hiring business administration experts can hone your ROI because MBA graduates show impeccable performance. They apply with outstanding educational excellence, thereby contributing to business success and improving the company’s profitability. That’s why – before the coronavirus pandemic – some 92% of business owners wanted to hire MBA graduates in the next year. So, their performance will give the desired results if hired as the pandemic’s nearly over, and the markets are now opening.
8. They are problem-solvers
MBA graduates acquire and improve “soft skills” while studying how to manage business organizations. So, they also pick up acute problem-solving capabilities that include communicating with people and resolving conflicts effectively. They also look at the “big picture” stuff and work to find the right solution to your business problems. These abilities make them ideal recruits to hone your business productivity and maintain a higher ROI. So, we recommend MBA graduates as your ideal workers.
Conclusion
Statistics show that MBA graduates constitute some of the most successful professionals out there. One survey recounts how 80% of MBA students consider their education a “good investment.” Thus, in 2020, business administration graduates had an average employment rate of 78% three months after earning the degree. So, what do these graduates contribute to your business success?
They arrive with excellent leadership/management capabilities. That’s how they add some value to your company and remain with their employers more than non-MBA candidates. They have flawless analytical, critical thinking, and problem-solving abilities as well. That’s why they’re the perfect addition to your company’s workforce.
