With another wave of college graduations coming this May, a new group of potential employees is set to hit the job market. And as a small-business owner, you need to consider whether any of the newest members of the workforce can help your enterprise. Here are some pros and cons to hiring a recent college graduate that every small-business owner should consider.
Pro: They’re Ambitious
When hiring a recent college graduate, one thing that is almost guaranteed is that you’ll be getting an ambitious employee. With the current job market as it is, frankly, they’ll be thankful to have any job at all. As a young employee, a recent college graduate will most likely not have a significant other, or family commitments that may take them away from work responsibilities. They may also be more willing to spend early mornings and late nights in the office, compared to more seasoned employees, who simply may not.
Con: They Lack Experience
While some experience and some job responsibilities can be taught, others cannot. And that lack of experience could be problematic for the bottom-line of your company. With recent college graduates, it isn’t so much about the workload as much it is how they handle the other obligations of being in an office environment for the first time. Will they work well with others? Can they handle taking orders? Will they treat customers with the respect required of the position? Consider all these things when hiring a recent college graduate.
Pro: They’re Cheap
No matter how successful your organization is, a good small-business owner is always looking to cut costs, without impacting the overall success of the company. And hiring a recent college graduate allows you access to a less expensive labor pool, and individuals who will work for less money than their more experienced counterparts. Plus, remember that with a lack of real-world experience, a recent college graduate is also less likely to leverage your offer against others, or to hold-out for more money than an older, more experienced employee.
Con: How Will They Handle the Responsibilities of a Full-Time Job?
Just because you’re hiring someone with a college degree, it does not make him or her “a responsible adult.” And that’s something you need to consider before making a hire: can they handle the responsibilities that come with being a full-time employee? Will they be able to get to the office on time? Will they stay until all of the work is done? Will they work overtime if needed? Not every employee will, which is another potential danger to consider when hiring a recent college graduate.