What a mentor should prepare before hiring student:Funding/Data
If data analysis is the primary focus of your project, make sure that the data set you need is procured before they begin.
Make sure money is in your departmental budget for photocopying, etc., travel for student to meeting.Type of students you are looking for
Each student’s personality is different — think about the personality of the person you work best with and/or how type of personality required given the nature of the project.
Target students early — those with curiosity, potential in research, and who demonstrate initiative.
Think through the interpersonal dynamics of a student team.
Circulate the list of applicants amongst department members for feedback.
Be clear on your own research ethics.Prepared Details/Expectations
Prepare written student agreement regarding employment status. Human Resources offices suggests that all students sign a statement that helps bridge the gap between being a student and being an employee and hit points such as 1) use of official titles in correspondence, and other communications, 2) use of information gained through employment, 3) confidentiality, etc. The goal in having them sign something would be to initiative a meaningful discussion on what it means to hold such a position (excerpt from the Staff Handbook that may relate.)
Specify that students cannot have a second job.