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Reduce your employee turnover rate by hiring fresh graduates


In my last blog, I have discussed about how you can save some money and re-training costs by hiring a fresh graduate instead of an experienced professional. In this blog, I will provide you with few other reasons why you should prefer fresh graduates over an experienced person.

Flexibility: In my experience, I have found less experienced people more flexible as compared to very experienced professional. For example: I had this one intern, let’s call him Mr. X, who was very self-motivated to learn. Thus, Mr. X will come early every morning, and read all the required process documents and training documents before he started his work. He would still work his core hours with some of my other experienced team members, but he was always willing to put in some extra time to learn new things. His hunger for learning new things helped me a lot, as he would come on weekends sometime and finish some of the important tasks of my projects.

Happier workforce: I am not saying that fresh graduates are always happier at work. I am saying that……….. Since they don’t have any past experience to compare their existing job with, they wouldn’t complain as much as few experienced professionals would, who might have worked in different companies and have seen different company cultures and practices. For a fresh graduate, your culture and practices will become his primary bench mark, since he will grow with your company, and learn all the practices and procedures established by your company. Also, smaller incentives like free bagels, donuts or lunch will go a long way for him as compared to other people, who might have seen different (better) days.

More growth opportunities: Obviously, you can have various growth opportunities for your experienced professionals depending on your company’s policies. But trust me, you will have way more opportunities for your employee’s growth, if you hire a fresh graduate. For example: I work in a Software Industry. In my company, we have various job ranks for our engineers. Ranks go from 1 to 6 depending on their experience and capability. Let’s say, if I hire an experienced professional on “Engineer Level 5”. Unfortunately, after his promotion to the next level, “Engineer Level 6”, I might not have clear defined path for his growth. And that employee will feel stagnant in my company, and might try to leave for another job. Imagine, if I hire an “Engineer Level 1”, a fresh graduate, for the same position . I will have more opportunity to grow him within the company in a given hierarchical structure of the company. Thus, I would recommend you to hire a fresh graduate, if you already have few experienced people in your team to provide a direction.

I hope these tips will help understand the importance of hiring a fresh graduate in comparison of an experienced professional. Let me know, if you have any other reasons why you would prefer hiring a fresh graduate instead of an experienced professional. Please feel free to share your opinion here. Thanks. – Bhavin Gandhi

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Posted by on May 24, 2012 in 21st Century, Leadership, Management

 

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Why should you hire fresh graduates instead of experienced professionals? (Part 1)


I have seen many companies investing their millions of dollars in hiring experienced professionals for their company. Though I understand the need for hiring experienced professionals, I think that companies should invest more dollars in hiring fresh graduates. For example: if you already have few senior engineers in your team, you should not look for more senior engineers. You should instead think of hiring fresh talents. Following are few reasons, why I would hire fresh graduates over experienced professionals.

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.

I hope these tips will help understand the importance of hiring a fresh graduate in comparison of an experienced professional. Let me know, if you have any other reasons why you would prefer hiring a fresh graduate instead of an experienced professional. Please feel free to share your opinion here. Thanks. – Bhavin Gandhi

 
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Posted by on May 14, 2012 in 21st Century, Leadership, Management

 

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