With every graduation season, a wave of new recruits enters the job market armed with eager attitudes and relatively limited resumes as far as relevant work experience goes. Small business owners must consider the benefits of new graduates as well as seasoned industry veterans in order to find the right balance in their small businesses. These are a few of the pros and cons to consider when it comes to bringing new graduates into your small business fold.
Pros of Hiring New Grads
New graduates offer different benefits to different types of businesses. Most small businesses, however, have these benefits for hiring new grads in common.
1) They are eager to prove themselves. You’ll find many ambitious employees from this group who want nothing more than an opportunity to shine.Dun & Bradstreet suggests that they’ll work late and come in early because most of them lack the “distraction” of spouses and children to pull their attention away from helping build your business.
2) New grads are relatively inexpensive. All small businesses are looking for new ways to cut costs. The savings of hiring a “newbie” over a seasoned pro in your field are substantial. In some cases, they more than make up for the risks.
3) They are more tech savvy than older generations. While Gen-X employees are more tech savvy than generations past, Millennials were raised on computers, the Internet, and modern technology like no other generation before them.
Cons of Bringing in Recent Graduates
There are also a few concerns or considerations to bear in mind when it comes to hiring new graduates too.
1) Relationship conflicts with Gen-X workers are quite common. According to American Express OPEN forum, Millennials get along with Baby Boomers quite well. They often, though, have conflicts with Gen Xers, which can be a problem in many small business environments that are largely staffed with employees in their 30s and early 40s.
2) They are largely untested. Many recent grads have never had full-time jobs of any kind before, much loss those in your industry. It’s a crapshoot as to how well they’ll handle the responsibilities that go along with a career in your industry.
3) New grads require additional supervision. Hiring new grads isn’t like bringing someone in who has experience in the field. The training is much more intensive and the need for supervision will last much longer as the new grad not only adjusts to the demands of how things work in your small business, but also to working in a professional atmosphere altogether.
New grads have a lot to offer small businesses. Whether you’re looking for innovative thinkers or adding a little spark of energy to your existing staff, they may be the perfect solution. However, there’s a lot to be said about bringing in someone who knows the rope and understands the industry too. Either way, the best choice is to find the right person to fit in with the business culture you’re working to cultivate regardless of previous experience. In addition, it’s prudent to protect yourself with Employment Practices Liability Insurance (EPLI) coverage.