As the latest UK employment statistics emerge, it appears there are plenty of under-25s who are out of work.
UK Parliament reports that between January and March 2023, there were 482,000 people aged 16 to 24 who were out of work, an increase of 45,000 compared to the previous year.
While young people struggle to find work, as a business owner, you could be looking to capitalise on this by hiring junior members of staff to your team. There are plenty of upsides to taking a chance on bright-eyed, bushy-tailed hires, but it could be prudent to look at the potential downsides of hiring inexperienced staff members, too.
So, if you are planning to hire young people as you expand your business, here are six pros and cons to consider before you do.
3 handy pros of hiring juniors to your business
1. You can train young staff from the ground up
One of the most enticing things about hiring fresh-faced junior staff members is that you can train them “your way”.
This can be particularly useful if your business has a unique brand, user experience, or approach to its industry. Having a new team member who can absorb your training without any old habits getting in the way could be ideal.
Indeed, as long as this individual has a proactive work ethic, you may be able to shape them into a great employee who understands and implements your processes without any issues.
2. Junior employees are typically more cost-effective to hire
Another upshot of hiring juniors in lieu of more experienced members of staff is the cost.
According to recruitment website Indeed, as of November 2022, the average salary of a UK worker aged between 22 and 29 was £26,096. Go up an age bracket to those aged between 32 and 39, and you would pay an average salary of £32,965 a year.
So, if yours is a budding business and you need to be cost-conscious, hiring juniors could be a great way to expand your team while keeping expenditure to a minimum.
3. Young team members might be more enthusiastic and willing to learn
Hiring older workers may mean they come with experience, but those experiences are not always going to have been positive.
Having a professional history that involves negative work experiences could mean older employees are more jaded, and could be more sceptical about learning new things than their younger colleagues.
While this is not always the case, hiring young team members could mean your office is revitalised by their willingness to learn, eagerness to do a great job, and their ability to adapt to new circumstances.
3 potential cons of hiring juniors to your business
1. A lack of experience means there is no guarantee of good performance
While hiring inexperienced juniors can be great for training them your way, the downside here is that there is little evidence to suggest they will do a great job.
Indeed, your junior staff may have some work experience and references to boot, but these are unlikely to match those of someone more senior. Their credentials may be less reliable, and they may not match your expectations once they start work.
By hiring juniors, you are betting on their potential, and as you may have already experienced, not all bets necessarily pay off.
2. Junior staff will cost more in time
Although a young member of staff might cost less financially, they are likely to cost more in time than experienced employees who may be more likely to pick things up efficiently and independently.
Nurturing a young person in their first career steps can be massively rewarding, but it may take more time out of your working week than you would think.
Training them in the initial steps of the job, mentoring them as they take on more responsibilities, and regularly checking in with their wellbeing are all important parts of bringing on young workers.
If you are already pressed for time as a business owner, and do not have senior staff who can help you mentor a junior, it could be wise to consider how much a young person might cost you in working hours as well as in salary.
3. Too many inexperienced staff members could lead to poorer business performance
Your business thrives because you have led it in the right direction, and part of that leadership is hiring the right people.
Balancing experienced staff with juniors can be tricky, and if you are not careful, you may end up with too many new faces who are not experienced in your field. While you can take the time to train them, in the meantime, it is important to maintain the standard of work your customers have come to rely on.
This does not mean hiring juniors will instantly affect the performance of your company overall, but it is crucial not to bite off more than you can chew. You may want to balance experienced individuals with juniors to keep the workload manageable and ensure that you can maintain high standards across the board.
Get in touch
When it comes to managing your money, experienced professionals are what you need. If you are searching for highly qualified financial advice, then please do get in touch with us at DBL Asset Management.
Email enquiries@dbl-am.com or call 01625 529 499 to speak to us today.
Please note
This blog is for general information only and does not constitute advice. The information is aimed at retail clients only.
