Recruiting and Retaining College Student Workers as Peer Financial Wellness Mentors

Abstract

Recruiting and retaining high-quality college students to work on campus as part-time student workers has remained a persistent, problematic issue. Especially difficult is staffing peer financial wellness mentoring programs, which require college students to demonstrate both soft skills and hard, financial skills related to financial wellness. This study was framed by Mitchell et al.'s (2001) job embeddedness theory, which explored what aspects of work employees must respond to as both recruitment and retention measures, with the theory being applied in both education and business contexts since its inception in 2001. Leveraging this theory, this qualitative study engaged with peer financial wellness mentors to explore 1) effective methods of recruitment of these mentors and 2) effective methods of retention of these mentors. This study employs a phenomenological qualitative approach using focus group data collection techniques. We conducted purposive sampling from institutions of higher education with peer financial mentoring programs over a three-year span (2020-2023) through professional connections with the Higher Education Financial Wellness Alliance. Participants attended virtual focus groups with peers from their institution, resulting in 22 focus groups held with 54 peer financial wellness mentors across seven institutions of higher education. Overall, data revealed three distinct themes pertinent to the recruitment and retention of student workers: 1) peer financial wellness mentors reported that recruitment methods were multifaceted and included digital and physical information, 2) mentors were retained in their roles because of the flexible, career-oriented nature of their work, and 3) program supervisors were critical in recruiting and retaining mentors. As the first study to explore recruitment and retention strategies of college student workers as peer financial wellness mentors, institutions seeking to build financial wellness programs and staff mentoring programs can learn from these insights and recruit and retain high quality student staff. Ultimately, institutions in many functional units in higher education (admissions, financial aid, student housing, etc.) can learn from this study and better develop comprehensive recruitment and retention strategies to support college students and the peers who support them.