Should you hire Experience Employee or Fresh Graduates?

Before making any hiring decision, carefully consider the candidate as a whole and what that individual can contribute. In addition to determining how well the employee will fit the job description, consider soft skills and culture fit.

Hiring experienced employee and recent college graduates for your company has both risks and benefits. New graduates are frequently affordable, flexible, and motivated, but proper training may cost your company more time and money. Experienced workers, on the other hand, have the knowledge and expertise that new graduates lack, but they can be more expensive and resistant to change.

The benefits and drawbacks of hiring recent college graduates While hiring new graduates can benefit your company, it is critical to understand the pros and cons before adding them to your payroll.

Benefits

Here are some of the benefits of hiring a recent college graduate to work for your company:

Motivation for growth: Job seekers fresh out of college are frequently eager to dive into their careers and learn the ropes. This type of energy and motivation is not only beneficial to company morale, but it can also lead to employees being more proactive in learning and taking on new projects.

Up-to-date skills: New college graduates are up to date on the latest trends in their field. They can bring this knowledge to your company because they have only spent the last 4-6 years learning the most recent guidelines and techniques. This is especially important if the rules and regulations in your industry change frequently.

Lower wages: When hiring a new graduate, you can offer a much lower wage than when hiring an experienced candidate. Most college graduates will appreciate the chance to gain experience in exchange for a lower starting salary. This is an excellent way for businesses to save money on employee compensation costs.

Trainable employees: Another advantage is that employees with little to no experience will not have pre-existing habits that must be changed. Instead, you can train them to follow your company's specific procedures.

Availability and flexibility: While this is not true for all new graduates, especially with many people returning to college later in life, many recent college graduates have flexible schedules and are available. Young job seekers are less likely to have as many responsibilities as older, more experienced job seekers, which is advantageous if you need them to work longer hours or possibly relocate.

Disadvantages

Here are some drawbacks of hiring a recent college graduate to work for your company:

Lack of experience: While new graduates may have college-level knowledge, they lack the experience that their more experienced counterparts have. This means that when they first start, you may need to spend more time training them and managing their performance. It's important to note that if you have competent new hires who can learn and adapt quickly, this is often not too much of a burden.

Investment in training: Newly hired employees necessitate a substantial investment in training, especially if you work in a field that necessitates extensive knowledge. If the new hire does not work out, your company could lose thousands of dollars.

Higher turnover: Job hopping has become a common practice among young employees, particularly those just starting out in their careers. When you hire a recent graduate, there's always the risk that they're just looking for work to advance their career. As a result, your company's turnover rate may increase.

The Advantages and Drawbacks of Hiring Experienced Workers

Before hiring experienced workers, it is critical to understand the benefits and drawbacks of doing so.

Benefits

Here are some benefits of hiring an experienced professional to work for your company:

Know-how: Because seasoned workers have years of experience, you won't need to spend as much time or money training them. This can lead to immediate productivity for your company.

Independent workers: Because experienced professionals understand how to function in the workplace, they will likely require less hand-holding from management.

Industry knowledge: These employees have amassed a wealth of industry knowledge and expertise over the course of their careers. They can help educate less experienced employees as well as use these skills in the workplace.

Employees with prior experience can quickly adapt to the position they are hired for, especially if it is a role they have previously performed. This frequently allows them to quickly advance and possibly be promoted to a more senior position.

Disadvantages

Here are some of the disadvantages of bringing in an experienced professional to your team:

High price: Those with experience expect and deserve to be compensated for the years of sweat equity invested in honing their skills. When hiring an experienced professional, you should budget for a higher starting salary.

Resistance to change: Some experienced employees who join your company may struggle to adjust to new procedures and processes. Those who are resistant to change frequently say, "We've always done it this way."

Methods that are no longer used: Many employers believe that just because someone has extensive experience in a particular field, he or she will be the best fit for the job. This isn't always the case. Some experienced workers may have stale skills that must be updated.