Employers should hire more fresh graduates, because they cost less, impatient to start working, remember heretical knowledge better and can be established in more complex workplaces. Firstly, fresh graduates start with low salaries. According to “USA Today 56% of the employers wishes to pay under $40,000 to fresh graduates for starting salaries. Firms always want to maximize their profits and that’s the main purpose of creating and managing firms. For the purpose of making profit, paying less salary to a fresh graduate is a big benefit for the employer.
Employers can hire and pay $ 40,000 too fresh graduate for the position and save 20-40% more by choosing the inexperienced individuals. The salary is not the only way the firms can save by hiring the fresh graduate, there are more ways to save money. If the firm has an opening and trying to find a worker, experienced or not, they have to pay big amount of money to find the right employee for the opening. However, if the employer would like to hire a fresh graduate, he/she does not have to waste that fund.
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The employer can be partners with any local or specific university/college and use their career center or interview people in Career Fairs to find the perfect match for the opening. The fact that students want to make money and start building their lives, they are impatient to get Jobs. Being a college or university student is hard and stressful. Throughout their education in colleges or universities, students have to spend big amount of money to pay their tuition, rent, commuting, books and for other expenses.
According to CB Canada, an average Canadian student debt is between $20,000 – $30,000 range and the Canadian Federation of Students pegs it at $27,000, which is close to the nearly $26,300 many students said they expected to owe after graduation in a recent BOOM survey. Brittany Verge can be an example for this. Again according to CB Canada, Brittany Verge graduated in 2008 and still paying her student loans. In 5 years, she could managed to pay only $2,000 back. Student debt is difficult to payoff. For this reason fresh graduates are eager to get Jobs and pay it off as soon as possible.
Another reason is that most of the people want to buy a car, house or luxury, and getting a Job is the first step in order to reach these goals. Remembering theories can be beneficial for the workers while performing tasks or jobs. Employers are depending on the younger employees to lead the company strategy initiatives. Fresh graduates have theoretical knowledge and more aware of the new technology and have a better knowledge of it. So their technical skills, knowledge and creativity will help in the growth of the company.
The fresh graduates critical and analyzing thinking efficiency are at a pick time, because all the theoretical knowledge about the subject is fresh on their minds. As a result, the fresh graduates may apply the terms and concepts to the task or research, and create innovative ideas for the improvement of the organization. Fresh graduates are waiting for opportunities to prove themselves and they are not afraid to ask questions, because hey were trained to do that at colleges and universities. Lastly, fresh graduates can be established in more complexes workplaces.
A workplace is the best platform for a fresh graduate to start and get experienced. Their enthusiasm and serious manner can provide more benefits to the firm. If the firm hires an experienced professional, the firm may end up paying for additional costs like teaching the company culture. The professional will have the last company’s culture and morals and making the professional learn the firm’s culture will be extremely difficult for the professional and can cost a lot. However, if the firm hires a fresh graduate from a university or college everything will be tremendously different.
The fresh graduate will start learning the firm’s culture step by step from the beginning. Fresh graduate can be trained rapidly, because he/she won ‘t be familiar with any other type of culture. According to Behaving Gandhi ,management consultant, states that “less experienced people more flexible as compared to very experienced professional” and according to his work experience, inexperienced workers that he worked with were willing to put in some extra time to learn new things. Fresh graduates do not have families or any commitments towards anything big and this situation lets them display more commitment towards their Job.
On the other side, experienced professionals are older and mostly married, so they end up trying to balance their family and working time. In conclusion, the dilemma’s answer is hiring fresh graduates. A fresh graduate costs less, impatient to start working, has better theoretical knowledge than experienced workers and can be established in more complex workplaces. The employers should stop looking at the fresh graduates and have the mindset that they do not know anything about organizations and they have no work experience.