Businesses spend a lot of money when hiring staff to fill various vacancies. Granted, these businesses can cut down the cost of acquiring staff by hiring graduates. This is true because generally, graduates command a much lower wage than candidates who are more experienced and more qualified for the position. As a business…
Businesses spend a lot of money when hiring staff to fill various vacancies. Granted, these businesses can cut down the cost of acquiring staff by hiring graduates. This is true because generally, graduates command a much lower wage than candidates who are more experienced and more qualified for the position. As a business owner, you need to find ways of bringing down the cost of recruiting employees. Here we suggest how recruiting graduates can help you achieve that cost-cutting goal.
Reasons why you should consider employing graduates:
• Much-needed human resource– owing to the fact that there are so many graduates coming out of college each year, you stand a chance of tapping into this pool of talent for your business.
• Innovative ideas– Coming fresh from college means that these graduates have been trained on the latest developments in the industry in which you are invested. Hiring these graduates means that you will bring in fresh ideas to your business. This saves you money because you will not have to retrain your old employees in so many areas.
• Development of human capital– When you hire graduates, you are likely to promote some of your old employees to line manage them and bring them up to speed with your organization culture. This is important because it means that you will lower the cost associated with high labour turnover and retain old employees who possess tacit knowledge necessary to help your business achieve its intended goals.
• Savings on cost of labour– For your business to thrive and prosper, you need ensure that you cut any cost that you can cut without affecting the quality of product or service offered by your business. Granted, it costs cheaper to hire graduates than hiring qualified and experienced employees.
• Temporary Hires– Makes more sense to hire graduates for short-term projects or on contract basis because some of them are more interested in gaining experience at an entry job. Experienced employees will demand more especially considering that the job is not permanent.
Additionally, there are certain benefits that we at Sanctuary Graduates believe you stand to gain by recruiting graduates. These include:
i. Graduates are more focused– Graduates have a sharp focus and they have a clear vision of where they would like to go to in their career. Having come straight from college, these graduates’ top priority is to gain on-job experience and start the journey up the corporate ladder.
ii. Value for money– Most graduates come to the job market without much baggage; they don’t have the usual baggage that experienced employees come with. They are still young and so most have no families, spouses and children. This makes it possible for them to put in more hours compared to experienced employees who are often burdened with family responsibilities.
iii. Talent development– Graduates are easier to retrain than experienced employees. You can train your new hires to work the way you desire them to. This is important because it makes possible for skill transfer within your organization leading to the development of a uniquely trained workforce.
If you have been wondering just how to tap on this cost-effective source of labour, worry no more. We at Sanctuary Graduates are here to help. We do the sourcing of graduates from different universities. Let us help you enjoy the benefits of recruiting graduates. Talk to us today.