Recruiting new grads in 2022: advantages and disadvantages
The decision to hire recent grads is closely scrutinized by large corporations. Managers must examine and change their recruitment strategy in light of shifting market realities. To better appreciate this transformation, a study is needed that lists both the rewards and obstacles that recruiters encounter when employing young graduates in this new decade. Click here to get BPO Services in Pakistan.
A fresh outlook
Universities frequently prepare students for the business world, but their perspectives are unaffected by company practices or market functions. They bring new ideas to the table and are more likely to point out existing issues or solutions to help the organization flourish. Universities are emphasizing creativity and ideation, as well as assisting students in developing "out-of-the-box" solutions that may be useful to corporations.
Technology has become critical in improving organizational efficiency and day-to-day functionality. When it comes to technology, the generation gap is noticeable, as millennials are thought to be highly well versed about digital developments and are known to find faster and more efficient ways to reduce burden.
Companies' principal priority is to reduce costs. One of the primary benefits of recruiting recent grads is the cost gap between them and experienced workers. Students do not have the same financial investment as seasoned industry professionals, but they are eager to learn and create rapport. In most circumstances, fresh graduates' financial responsibilities are restricted in compared to an older and more experienced age bracket.
Training is required
Before they can assume full responsibility in any business, recent graduates must go through substantial training. This necessitates a significant amount of time and resources, which may be avoided if a more experienced applicant is employed instead.
Job hopping has risen as market dynamics change. Recruits are regularly changing occupations as more opportunities become available. If their needs and desires are not addressed, they will leave rather than aligning their principles with the company's beliefs. They are less inclined to stay committed to a single organization and prefer to pursue personal improvement above organizational progress.
HR Management in the SME Sector
HRM is the department that manages a company's employees. Because every company is operated by the combined efforts of its employees, it is critical to have a department that manages and looks after the company's employees.
Human Resource Management (HRM) procedures in small and medium-sized businesses are notoriously informal. Because the size of the company is small and the management is concentrated, SMEs often do not have proper HRM. As a result, interactions are typically informal, and human resource management is typically done on an ad hoc basis.
This allows enterprises to dodge legal laws and overlook the provision of employees' suitable working hours, minimum salary, and adequate working conditions. Furthermore, because SMEs are small companies with informal interactions, positions may not be clearly defined and may overlap.
This method may also make measuring employee output challenging. Because output per employee cannot be monitored, it is possible for a corporation to be overstaffed.
Furthermore, HRM enables a company to be more productive and effective. Employees at SMEs prefer to multitask on projects and may be working on things for which they are not completely qualified. This may result in inefficiency and unproductivity.
An HR department will match the right individual to the right task, maximizing each employee's expertise to boost productivity and efficiency.
Human resource departments are in charge of keeping staff engaged and focused on their jobs. Firms' productivity may improve as a result of this. Lack of an HRM department, or an HRM department that fails to motivate a company's personnel, will result in demotivated and, as a result, unproductive staff. It may also lead to an increase in staff turnover.
Having an HRM department is essential for all businesses, although the necessity varies based on the size and nature of the business. Companies must acknowledge the importance of managing and caring for their employees, who are the company's most valuable resource. Follow the link to see HR companies in Abu Dhabi.