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Tough times for young professionals
Businesses’ decision not to hire fresh graduates is a short-sighted view that could spell the death of many corporations.
Vacancies for fresh graduates have dropped by 33% in just one year, according to Financial Times employment columnist Sarah O’Connor, citing data from job platform Indeed. Geopolitical tensions, the rapid advancement of artificial intelligence (AI), and global economic uncertainty have prompted firms to pause or halt hiring fresh graduates altogether.
The organizational hierarchy, which once resembled a triangle, has now devolved into a flimsy diamond-shaped structure with few people at the bottom. Businesses have been enthralled by the cost benefits of assigning tasks to AI. However, they must remember that AI cannot replace middle managers and executives. Trimming costs is just one aspect of business. Investing in human talent is one of the most important action plans of a successful corporation.
The fresh grad advantage
Firms that have stopped hiring fresh graduates underestimate the capabilities of these young professionals and what they could bring to the table.
Fresh graduates are eager to learn the ropes and are highly receptive to new experiences and change. The right manager can instill proper work habits in them, and they can be easily molded into the company’s culture.
Their biggest asset is their idealism and determination to create a much more caring society. Their relentless doubts about the old order urge firms to revisit their mission, vision, and corporate philosophies, then align them with the times.
The reality is, the younger generation will be more technologically proficient than most of us. They’ve been using gadgets since they were toddlers and can naturally co-exist with AI and related technologies. Firms must harness their inherent skill sets to discover new and more efficient ways to do things, enabling them to reach the next level quickly.
New workflows
Businesses must not stop hiring fresh graduates. Rather, they must revise their workflows to better incorporate younger workers and utilize their inherent strengths, especially in technology.
Today’s fresh graduates should not be limited to working exclusively on administrative, clerical tasks, and procedural tasks. Businesses must entrust these young professionals with high-value assignments and provide them with regular feedback to support their development. This is a great way to make them feel they truly belong in the company and are a key pillar of success.
This requires greater effort from middle management, but this is just the new reality businesses face. The world has gone through multiple technological revolutions that have reshaped society and economies. Every decade, a new machine or innovation drastically changes how things work. Amid all these revolutions, humans have remained at the center of everything. They are the true agents of change who can steer economies through good and bad times.
The question for your business
How do you nurture talent?
