The majority of employers are looking to hire someone with experience. If you’ve ever gone job hunting, this is a known fact. However, it wasn’t always this way.
A degree or diploma used to hold more value than it does today. The vast majority of people entered straight into the workforce, rather than continuing on to post-secondary education. Once you landed a job you stuck with it; it was very rare to have someone jump from one to another.
Today, the opposite is true: 74.7% of young adults attend post-secondary institutions. Moreover, according to Forbes, 91% of those born between 1977-1997 (Millennials) anticipated staying at a one job for less than three years.
This shift in education and behavior puts into question Millennials’ job loyalty and engagement. Let’s take a look at the pros and cons of hiring an experienced worker vs. the inexperienced:
- Students and inexperienced workers are paid (and anticipate) a lower salary
- Inexperienced workers are typically new to the workforce, willing to learn, and not set on their ways
- Coming from a younger generation, they will have a different view on things. If a company is always doing the same thing the same way, they’re keep getting the same results; with new blood comes new ideas
- Requires an employee at a higher salary to put their work aside to train the inexperienced
- Much more likely to leave. According to Forbes, the Millennial will have “15-20 jobs over the course of their working lives.”
- Being new, they are more likely to make mistakes. These mistakes could potentially jeopardize the company’s image and/or could be costly
- Less costly and more time efficient, as they require little to no training
- More likely to stay: when talking about the older generation, Fortune says, “41% of those employed workers have spent two decades with the same company, including 18% who’ve stayed at least 30 years.”
- Experienced workers are more confident in sharing their thoughts and ideas. This form of leadership can also encourage other employees to step up, creating an overall better (and safer) working environment
- Hiring an experienced worker can prove costly
- Although they will be loyal in their time with the company, the older generation will be approaching retirement
- More experienced workers tend to have a set way of doing things, and therefore have a harder time adapting to change
The reality of it is, employers do not want to heavily invest in the inexperienced. A company may spend a large amount of time and money on inexperienced workers, only to have them leave and use their training elsewhere (likely their competition).
Employers will have to adjust for the current and upcoming generation and alter their business accordingly. This being said, here are some potential adjustments that will have to be implemented overtime:
- Some job-hopping millennials carry knowledge about competitors however, they may also disclose information about you; be wary of what you share to them.
- Learn to use them while you have them. Some might not stay long but if they perform well, it can help boost the company ahead.
- Business News Daily Suggest that “offering flexible schedules and unlimited vacation may keep Gen Y around for a few more years longer than than average”.
- Make them feel important. They want to feel like they’re adding value and benefiting the organization.
Adele St-Pierre is a recent graduate of Canadore College’s Marketing Communications Program. She is pursuing her passion and continuing her education at Ryerson University in the Graphic Communications Management Program.