Hiring ex convicts can be a great move for a small business owner. It will help you create a strong presence in your business community. Besides, it can be an excellent company policy to make your brand stand out.
Creating jobs for ex-felons is much beyond giving someone an opportunity to get back on their feet. This policy can also be a win-win situation for both employers and employees in many ways. Let’s find out why small businesses must look for hiring ex convicts in 2022.
Getting Tax Incentives by Hiring Ex Convicts
The best thing about hiring an ex-felon is getting tax incentives. It may not be easy to think this is the main reason for hiring ex-convicts, but it’s true! You can make a monetary gain by hiring ex-convicted persons because of the Work Opportunity Tax Credit or WOTC.
WOTC offers tax benefits for companies that hire people from many target groups, including ex-felons. The Internal Revenue Service of the USA government has a well-defined guideline about who ex-felons are. If an ex-felon is working at your business for a minimum of 120 hours, you can get a tax credit of up to 25%. The credit will be calculated on the 1st year’s wage of the employee.
However, you can enjoy up to 40% tax credit benefit if the person has worked 400 hours for you. Further, many states and municipalities offer cash rewards to companies hiring ex convicts.
An Ex-Felon Employee Can be More Dedicated in His Work
You may get loyal and sincere employees for your company by hiring felons. You have given second chance jobs for felons to be on their own. So, they will work hard and stick to the better good of the company. There can also be a greater sense of gratitude and engagement among ex-felon employees.
On getting a second chance, they may start seeing success in helping your company reach its goal. In simple words, it will be more than just a job for them. It will be their scope to make a living with respect.
Ex-Felons Won’t Quit Your Business Suddenly
If you want a long-term and steady employee base, hiring ex convicts can be a smart move. Let’s be honest! It is not easy for ex-felons to find a job even after they have been released from their charges. So, they will not easily quit the company that has hired them.
On the contrary, in many cases, ex-felons turn out to be excellent resources willing to get into a long-term commitment with the company.
Ex-Felons May Have Just the Right Skillset to Join Your Company
Ex-felons often get vocational training in their time behind bars. Some even pursue college and General Educational Equivalency Diploma degrees which are equivalent to high school diplomas. These degrees and certifications make them eligible for employment in various sectors. Besides, they learn new skills through these programs. Further, they get to know many things while doing the tasks in prison.
So, when you hire them, they can make a difference in your business by using those skills and knowledge. They also learn a more disciplined way of working with others behind bars. Therefore, they can be great team players with good communication and coordination skills.
Small businesses have massive power to leave an impact on the workforce community in the USA. They can also influence American society to a great extent. Half of the people in the nation either run a small business or work for one. So, small business owners have the capacity to create new jobs in bulk.
Considering the benefits discussed, a small business owner has many things to gain by hiring ex convicts. At the same time, they can offer help to ex-felons to be a part of society again.