I think it should be somehow obvious that a start-up might have easier access to young employees. Of course, if you can afford to hire seasoned employees that’s excellent, but let’s see what are the advantages of hiring young.
First, as you are just starting up it’s harder to get experienced people on board. I said this before, employees feel they take a risk when leaving other well established work places. But there are other factors to consider as well.
Think about the company culture. Right, you don’t have one yet, so establishing one with young employees is easier. And then there is the level of expectations: young employees don’t necessarily expect to have a company car, the latest PC nor the best payment in the industry.
After exiting my last company I’ve already started thinking about the next (if you are an entrepreneur, you know that once you have the entrepreneurship bug is hard to live without). Of course, one of the first things you have to consider when starting a company is the initial investment – in my case I’m one again thinking about an It company so I’m quite sure to say the biggest expense is the cost of the employees. So what can you do to control the expenses and reduce the initial investment? Hire young, it’s cheaper. Of course, on the long run I’ve said it before and I’m saying it again cutting costs on the human resources is not wise because the loss of productivity and results might eventually kill the business, but in the beginning you anyway don’t know if your business is going to hold water so why not hire young?
Then again, in the beginning for sure the office will not be a real office building, and probably some of the furniture will be old. The location however is important, as I want to hire young it should be next to an University. I’m putting my bet also on the young exuberance and willing to prove themselves. I will hire young, so why wouldn’t you?
I still look for one answer: what should be the new company doing?
I tend to agree with this. Startups are new businesses and young, so, therefore, young employees make total sense. Match the employees to the business, with the youthful presence, as the employees grow with the company. Older employees cannot grow with the company.
At the same time, older employees bring expertise and experience. Nonetheless, this could be had through consulting and coaching.
I think a point to e made is that young employees can also bring a youthful energy to the workplace. Experience is priceless, but so is effort and willingness to learn. Plus your employees can grow with your company, and if they are there from the beginning they have more vested interested in the success of the venture.