The only thing that matters is profit. Here are the 5 reasons to hire fresh graduates over experienced applicants.
Lowering costs: This is one of the primary reasons why most of the companies hire fresh graduates. On an average, fresh graduates cost 20-40% less than an experienced individual. I am not saying to hire them just because they are cheap; there are various other cost benefits for hiring graduates. For example: You don’t have to spend thousands of dollars in the talent search program. You can partner with some of the local universities in your areas, and take benefit of their career center, which will be more than happy to find out a talent match for you. Or you can participate in Career Fairs of few schools and interview people right there and then. This will also reduce all the traveling and lodging costs, which you might end up paying for inviting an experienced person for an interview.
Easy to train: Imagine, if you hire an experienced professional, who seems to provide you all the answers that you require. But have you ever considered the cost of re-teaching him your culture? Since the person is experienced, he would be familiar with the culture of the last company that he worked for. So, before even teaching him your culture, you need to make sure that he forgets some of the aspects of his old culture, and dwells in with your existing culture. On the other hand, if you hire a fresh graduate then you don’t have to reteach him anything. He will basically learn everything from the beginning, and grow with your company. It’s like writing something on an empty white board, you can write anything without rubbing off any previous prints. Thus, unless you are looking for someone from a different culture/company to come and change your existing team dynamics and your existing work practices, I would recommend you to hire someone fresh and new.
A Strong Thirst for Knowledge: Fresh graduates are often eager to learn and extremely determined to prove themselves. When given a task, they tackle it head one and wholeheartedly. They are not afraid to answer questions and seek answers, because in college, they were trained to be open to learning even on things outside of their expertise. Being similar to a “blank canvas,” fresh grads can adapt to any corporate culture quickly, as well as different working styles.
Specialization: The Company can take a blank slate and make them a specialist without having to pay for all the other skills and knowledge that doesn’t apply to their needs. Sometimes you don’t want someone with 15 years of experience and knows 8 languages. You just want someone who can build databases that don’t crash. It is cheaper to just train someone on database design and pay them just for that skill rather than a jack of all trades.
A Chance to Engage Future Leaders: LinkedIn reveals that more than 39 million students and recent college graduates are the professional network’s fastest-growing demographic. These are the future leaders, believe it or not. Smart companies know they need to engage with them early on in order to secure their position within the company as they grow and advance in their careers.
While fresh graduates have gone through internships, they have yet been instilled into the corporate environment. Their minds are fresh, and thus, can bring a new perspective to your organization. That is why a Web Application Development Company hired 50 fresh graduates and 10 experienced professionals last year (2015) and generated 22.3$ million. Most universities emphasize on the importance of innovation, which of these graduates bring to the table. Fresh grads will also be able to point out flaws which current staff might not notice, being so used to the work environment. It’s time to start engaging with these new grads and recruiting them. While there are available positions in a certain job advertisement that states newbies won’t cut it, there are many situations that are perfect for new talent. So, don’t miss out on engaging tomorrow’s leaders today!