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