How hiring a graduate is better and more cost effective for your business

When looking for the best new talent, companies often make the mistake of throwing money at the issue and hoping it goes away. Expensive recruitment practices may well find you the best candidate of those who apply, but those recruits will command far greater salaries and will be more stuck in their ways than a fresh recruit.

So just why is hiring a graduate not only better, but more cost effective for your business than hiring an established worker?

They’re cheaper than experienced staff
Those fresh out of University are ready and willing to work for a salary far lower than that expected by experienced hires. The average salary for fresh graduates in the UK is £26,000 per year, but naturally salaries can go above or below this.

When you consider the return on your initial investment, graduates are the natural choice. For a minimal financial input, graduates are mouldable, flexible and often more loyal than someone brought on with traditional recruitment methods.

Technologically savvy
We call millennials ‘digital natives’ for a very good reason – they’ve grown up around the technology businesses to succeed. Social media and computing are second nature – gamification, audience engagement and an innate understanding of technical capabilities are defining characteristics.

Still in the ‘learning’ mentality
Coming straight from University, any graduate you recruit will still be in that educational mind-set. There’s a very good reason companies look to recruit ‘recent graduates’ – it’s because they are still in the state of mind where taking in information is easy.

By taking on a graduate, you are taking on an information sponge – further to this, they are exceptionally willing to get their hands dirty and work at any task they are given.

New perspectives on old problems
Often, bringing in someone on a temporary basis can revolutionise your business. Hiring a graduate works in the same way – new perspectives on old problems are of vital importance, as each new person to look at something looks at it in a different way.

The simple question of ‘why is it done like this?’ is often paired with ‘this way is much better’. Graduates have a point to prove – by bringing them on instead of an old hand, you immediately show them just how much they have to work towards, and just how valuable they can be to a company.

Fostering competition within a team
Hiring fresh, motivated staff is often just the boost your existing team needs to perform to the best of their abilities. Often hurdles develop over time, and as previously mentioned, a new perspective is exactly what is needed to get past it.

Further to this, healthy competition is directly linked to employee engagement, and teaching a new hire the processes within your company is an excellent way of checking your existing staff-members are up to speed

 

By hiring a graduate, you are hiring a loyal, educated and responsive person to augment your team. New perspectives are valuable, as are the myriad of other reasons one would hire someone fresh from university. One key reason an employer may choose to hire a graduate, however, is a simple one of cost. Graduates are unique in that their lower salaries are no indication of a lower level of quality. Indeed, Forbes reported that 60% of the time, paid interns were offered full time roles.

Intern Avenue is an industry-leading provider of paid internships, linking businesses and candidates through their distinct online package. If you’re looking for the best in graduate talent, why not get in touch? www.internavenue.com

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