Exorbitant student loans constitute just one reason why young people eager to experience the world may want to reconsider going to college.

There is now $1.2 trillion worth of college debt in the United States, and the average borrower will graduate owing $26,600 according to The Institute for College Access and Success (TICAS) Project on Student Debt.

Having a degree doesn’t guarantee getting a job or even being job-ready. I’m the son of a businessperson, and after four weeks of business school, I realized that the professor had no real-life experience in running a business. I wasn’t going to learn from him the practical principles necessary to succeed.

Despite that, I did stick it out in business school for two years before dropping out. 40 years later, I have no regrets. I believe hands-on experience trumps a degree because the business skills needed for success evolve faster than the time it takes to earn a degree.

I advise business owners and hiring managers to look beyond the college degrees of potential employees. I also advise them to consider people without a degree, focusing instead on the applicant’s skills and character. 

I see a college degree as a generic qualification that shouldn’t be the ultimate criteria by which you should hire talent. Sometimes, experience is the best teacher.

4 rules for hiring the best employees

I offer four tips to managers to hire the best employees.

1)  Do not accept any bad attitudes.

A bad attitude spreads like the flu, and if you don’t stop it, it’ll make your whole team sick. Good attitudes spread too, so look to hire people with a positive one. Is the applicant full of complaints about his or her previous employers? Don’t be surprised if you become the next target of such whining if you hire them. I’ve never regretted my decision to insist on good attitudes when hiring.

2)  Hire friends very cautiously.

Friends and family members can become your best employees, or they can become your worst ones who are hard to fire. Let them know the ground rules and expectations up front. Treat them like any other employee. I hear horror stories all the time from business people who are suffering because of hiring family. If you do it right, it can work very well—and that’s been my experience.

3)  Hire not only for skills but also for potential.

Leaders can be made if trained and motivated properly. I’ve seen many a young person with no previous experience or knowledge of business learn a trade or skill, then prosper and excel. Many times, it’s even an advantage to start from the beginning with someone who does not have the baggage of bad habits or practices from previous employers.

4)  Put people in the right positions.

Test them—lawfully and equitably—for their personality and skill sets against job requirements. Many tests exist that can be quite helpful in figuring out where people best fit into your organization.

What tips do you have for hiring the right people? What’s your view on the value of a college degree?

Today’s guest contributor is Ed Basler, longtime entrepreneur, CEO of E.J. Basler Co., motivational speaker, author, and president of Fresh Eyes Coaching, a firm helping small businesses in identifying profit opportunities and obstacles. Ed and his wife, Cathi, founded and ran a nonprofit youth organization for 15 years.

Image source before quote:  morgueFile.com