How hiring an MBA graduate can boost your company’s ROI
As a business, you want high-quality employees, but what is the ultimate way to ensure you are hiring the best? One way to guarantee that you are getting the right person for the job is to hire an MBA graduate.
Australian Institute of Business (AIB) is a registered higher education provider with a wide range of high-quality tertiary programs for busy working adults – including Australia’s number one online MBA, the Fast-Track MBA. With over 35 years of history, we’re one of Australia’s most established private education institutions, and we pride ourselves on being future-focused and dedicated to continuous improvement.
Hiring an MBA graduate can improve company morale, attract new customers and provide fresh, new ideas to improve your bottom line. Read on to discover how hiring an MBA graduate can boost your company’s ROI.
MBA graduates are taught how to lead
Anyone can start a business, but not everyone has the skills to lead the company in a way that gets the most out of their employees. And more importantly, good leadership ensures that your business will stand the test of time. The Fast-Track MBA teaches leadership skills that your company can benefit from.
Hiring good leaders can improve company morale and culture and foster relationships that create a happy workplace. A recent TINYpulse Employee Retention Report claims that employees are four times more likely to quit if the company experiences a lack of appropriate management skills. Adding to this, according to Udemy, nearly half of employees said they’ve quit a job because of a bad manager. By hiring an MBA graduate, you’re not only choosing a strong leader, but you’re also potentially saving your company from a high staff turnover rate.
MBA graduates stay longer
A 2017 report by the Pew Research Center in Washington, DC, discovered that being more educated is correlated with longer job tenure. This means that MBA graduates are much more likely to stay in their positions longer than those who don’t have an MBA.
Why? Because entry-level employees are still figuring out their career paths which could mean a high staff turnover for your business. Alternatively, an employee with years of experience and an MBA knows what they want in their career, and how to achieve it.
Hiring MBA graduates improves perception and helps you attract new customers
The public’s perception of your brand and business capabilities is crucial to your business success. Hiring highly skilled and experienced employees shows your commitment to quality, and publicising your employees’ skills and experience helps you attract high-quality clients.
When a potential customer looks at the bios of your team members on your website, they’ll see that you’ve hired quality talent to serve your customers. Take Suncorp, 2021 winner of Money Magazine’s Bank of the Year, for example. Suncorp proudly displayed its achievement on its website, social media profiles and other advertising channels. Since then, Suncorp has earnt over $1,033 million in group net profit after tax and increased its digital insurance sales by 13%. By advertising your staff’s achievements, you can increase revenue and improve sales.
MBA graduates are highly effective communicators
Internal communications agency, Grossman Group, created a survey called ‘The Cost of Poor Communications’ where they surveyed 400 companies with 100,000 employees. Shockingly, an average annual loss of $62.4 million was reported by each company due to inadequate communication to and between employees. What can you learn from this? That communication is key – in business and personal life.
An effective communicator can build trust with employees and customers, improve team engagement and productivity and resolve issues effectively. The Fast-Track MBA teaches students how to communicate effectively with employees and customers.
Heather Butler, head of this recent study, claims that, unlike raw intelligence and IQ, critical thinking can be learned and developed and that better reasoning can improve with training. When you hire an MBA graduate, you know that they have been trained to think critically in business.
MBA graduates are taught the skills required for critical thinking and problem-solving. Critical thinking is the ability to review or observe all facts, evidence and history and make wise decisions based on those observations. Acquiring employees who are good critical thinkers can help your business make better decisions and well-formed opinions. They can also help innovation and creativity. If an employee can think outside the box, your business could benefit from their creative thinking and enable you to produce new products or innovate new services.
Critical thinkers are also great at identifying new opportunities. An MBA graduate is taught how to identify, seek, or create new business opportunities, whether internal or external.
Learn more about the top skills an MBA teaches you .
Extending your network
Hiring an employee with an MBA can expand your professional network. MBA graduates gain access to a community and alumni network that could present opportunities for your business.
Extending your network is not only important to generate new business, but is essential for community collaboration to discuss and challenge ideas in your industry.
Corporate social responsibility
Now, more than ever, businesses need employees with skills in CSR (Corporate Social Responsibility). Understanding how your business contributes to the environment and the community is essential, and corporations now have a degree of responsibility for their actions that impact their neighbourhood. An MBA graduate is taught how to assess and implement CSR strategies and policies to help your business positively impact the world.
Delivered online with continual updates, innovations and new releases, the Fast-Track MBA offers genuine flexibility, industry insights, practical skills and the support you need to achieve your goals in our fast-changing world. It’s created for people just like you. Learn more about it.