Small Business Financing Tips: The Case For Hiring Recent Graduates
There are multiple notes that need to be hit on every small business team, not just in the context of all that is required operationally, but perspective wise as well a strong balance of ideas can elevate the energy of an enterprise. Finding the right blend of experience and technique to pair with energy and creative thinking is essential in order to maximize the capabilities of a small business’s workforce. Additionally, in order for a business to be strong in both the long and short terms, it needs to have a growth strategy, creating expanded infrastructure and allowing talent to rise up the hierarchy into leadership roles.
At first glance, finding a group of motivated, talented and eager employees willing to work more for less seems to good to be true, but consider the fact that in 2014 a projected 1,606,000 students are going to graduate out of college and into the workforce. These students will be in competition with both recent graduates from preceding classes, as well as each other. The sheer number of graduates and the relative scarcity of entry level jobs with growth potential means that your small business is in a strong position to compete for some of the best graduates as they come into the hiring pool.
The grads that you hire are the future of your company. The difference between hiring a recent grad and hiring a more experienced worker is that, while a recent grad is more inclined to make mistakes during a learning period, they will also be much more open to taking direction and adopting company policy, having not had previous on the job training or expectations or habits created by previous on the job experience.
Talent prices are rising steadily. Hiring grads now is a strong strategy, as prices have been reported as rising steadily. What this means is that your business would do well to on-board some graduates now before starting salaries continue to go up, potentially making a new hire cost prohibitive.
Enthusiasm can be contagious. One of the great things about a new member of a workforce is the level of enthusiasm that they bring to their team. The benefits of having them around include not only the work that they do and their desire to learn, but also the positive energy that they can bring to the rest of your employees. Having someone around who has also grown up with the internet and understands a relatively high level of technology on an intuitive basis is also extremely helpful, especially if you have team members who are more or less technologically challenged.
For all of these reasons, small business owners should seriously weigh the potential upside of hiring younger team members and ingraining them into their company culture form the very start of their careers. By the time they have put in two or three years at your company, they will understand how things work on a deep level and be ready to take on either elevated leadership roles or spearhead new business development opportunities.
Photo Credit to John Walker on Flickr