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Doctor Diaz: We've been discussing the process of starting a new business, and one of the most critical aspects of this process is staffing. That is, deciding which people to hire. Please discuss the following question: ls it better for new businesses to hire experienced veterans of the industry or to staff the business with younger employees who are right out of university? Why do you think so?
Kelly: I think a company should staff a business with the most experienced employees possible. lf you're starting a new business, you need people around you who know what they are doing and can quickly get the business up to speed. Spending time training inexperienced people will slow you down.
Andrew: I understand what Claire is saying, but if you are starting a new business, you want people who are particularly enthusiastic and energetic. Who better than a recent graduate to bring those qualities to the job? You would be guaranteed an ambitious hard worker.
In the fast-paced and competitive world of business, it is crucial for new companies to hit the ground running and make a strong impact in order to survive and thrive. One surefire way to ensure success is to hire experienced veterans of the industry who bring a wealth of knowledge, expertise, and connections to the table. While young, fresh graduates may have
the energy and enthusiasm, they often lack the practical experience and real-world skills that are essential for navigating the complex landscape of business. One of the main advantages of hiring experienced veterans is their ability to mentor and guide younger employees.
Their years of experience have equipped them with valuable insights and lessons learned from past successes and failures, which they can pass on to the next generation of workers.
This mentorship can significantly accelerate the growth and development of a new business, ensuring that mistakes are avoided and opportunities are maximized. Furthermore,experienced veterans are often well-connected within the industry, with a network of contacts that can open doors and create opportunities for the company. These connections can lead to partnerships, collaborations, and new business ventures that may not have been possible without their expertise and relationships. On a personal note, I once worked for a startup company that decided to staff the business with a young, inexperienced team.
While we were eager and enthusiastic, we struggled to navigate the challenges and complexities of the industry, often making costly mistakes that set us back. It wasn't until we hired an experienced veteran as our CEO that we began to see real progress. His guidance, wisdom,and connections were invaluable in helping us overcome obstacles and achieve success.
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