As a business owner, hiring fresh graduates might seem counter-productive to your short-term goals, as you would prefer someone who is already well acquainted with the workplace.
Sometimes, banking tech business owners that we work with are less enthused about graduates and prefer to have someone with years of experience – the more experienced, the better.
But in adopting this way of thinking, you are certainly disregarding a sizeable and valuable proportion of the employee market.
While studies show that every successful workplace needs to include a diverse team of different ages, backgrounds and genders, graduates have a set of skills which can add real value to your business if you chose to take advantage of them.
In this article, I want to discuss with you some of the great benefits of hiring graduates with freshly minted degrees into your banking tech company.
Graduates are Hungry to Prove Themselves
First and foremost, one of the main benefits of hiring graduates is that this is their first foray into the world of work. While some employers might be put off by this notion as they think that it equates inexperience, we believe the opposite.
We know from experience that graduates are at a pivotal point in their career, and this means that they are hungrier and more eager to do themselves and their employer proud, and to finally put into practice in the real world all the skills they have been honing in their coursework.
They Bring a New Perspective
Albert Einstein defined insanity as “doing the same thing over and over and expecting different results”. When was the last time you had a shake-up in your business? Do you have the feeling that some of your systems and procedures could do with updating, but they work ‘fine’ at the moment, so you are not prioritising their review?
In the workplace, it is crucial to have a team of people who have different thinking styles and can approach a problem with innovative ideas - and this is never truer than in the world of banking technology.
While it is great to have a team of stable employees who all work well together and get the job done, in the tech world innovation drives results. It pays to have members of your team who have a different perspective, a fresh pair of eyes to analyse your current systems and procedures and work out if tasks can be carried out in a better, faster or more cost-effective way.
Graduates expect to be paid less; this is a fact. The extra digits on the end of your salary only accumulate after years of experience
, and everyone in the tech space knows this.
With this in mind, it is overall less expensive to hire graduates rather than veterans in the banking tech field who demand higher salaries. While it is initially less expensive to hire graduates, many employers think that the time it takes to train and nurture someone who is new to the workplace might work out more costly in the long run.
However, as recruiters we have seen first hand the way that fresh graduates take to new roles and excel in them – the perceived ‘risk’ of hiring them is usually just that – a perception.
If you are considering hiring a graduate and you are being put off by the thought that it might take them longer to reach their full potential, remember that finding the right person for the job once can pay dividends over the years.
According to the most recent MENA salary survey
, 40% of respondents stated that their loyalty is driven by long-term career advancement. Contrary to common belief, younger workers are not actively seeking to change jobs every few years – they want job security and an employer who will let them grow with the company.
They’re Easier to Manage
While there is somewhat of a stigma attached to younger workers in that they are ‘harder to manage’, this is not necessarily true.
The MENA salary survey also reported that 31% of graduates do not expect a salary higher than US $500 at the start of their career.
While this should not be an opportunity to pay them very low wages because they expect it, it shows the determination than young professionals have in wanting to forge a career for themselves in a sector they have passion and enthusiasm for.
And with 35% of respondents in the survey stating that they would forego part of their salary for more flexible working hours, this shows how adaptable and easy to please the younger working generations are.
The workplace should be a place of learning & development, and hiring graduates straight out of the classroom is a great way to keep the ethos of learning in them alive.
Tech employees who have been in the same role for years can sometimes become complacent or ‘stuck’ in their ways. Graduates are still in the learning mindset which gives them more of an advantage in terms of learning new skills quickly, being inquisitive and thinking outside the box – all attributes that are invaluable in your banking tech business
If you would like to be put in contact with some of the brightest graduates in the banking tech sector in the MENA region, get in touch with us
today and discover how we can help you grow your business with this innovative group of the workforce.
About Flow Banking & Technology
The Middle East is a dynamic and growing market where identifying top talent and world-class professionals for the banking and technology industry is highly competitive.
Flow Talent provides an executive search service led by industry experts, geared to any level of role within the Banking Technology Industry. This service is driven by innovative, established and proven research teams who customise each requirement from our clients.
To find out more get in contact
with one of our team today.