Hire an inexperienced worker with low salary or an experienced one with high salary?
If you were an employer, which kind of worker would you prefer to hire: an inexperienced worker at a lower salary or an experienced worker at a higher salary? Use specific reasons and details to support your answer.
A company's human capital might very well be its greatest asset. As a result, a lot of thinking has to go into hiring a new employee. Naturally, in order to maximize profits, a company will want to employ a well-qualified candidate who is willing to work for very little money. Depending on the position that is to be filled, experience is an important qualification for which a company will have to pay a high salary, but often other intangibles such aptitude, initiative, and creativity are just as important, and they might be compromised by prior experience.
There are positions for which extensive experience is absolutely necessary or at least extremely helpful. For example, an airline will not hire inexperienced pilots to fly their biggest passenger planes for good reason, and an investment firm will not allow a recent college graduate to manage the portfolios of their most important clients. In these areas specialized knowledge gained from experience is mandatory. Similarly, when it comes to managing or supervising other workers, knowledge of the subject matter is important but even more important is the ability to communicate effectively. This skill can only be developed through experience. Therefore, a company that wants to be successful immediately will have to pay for this kind of experience.
Sometimes a company will be better off hiring a candidate with less experience. Not only will this prospective employee command a lower salary, but his/her lack of prior experience will allow him/her to learn new procedures more quickly, as he/she will not have to unlearn old ones. Similarly, employers often complain that seasoned workers have become rusty in their established routines. They lack the initiative and drive of their youthful counterparts. Finally, creative positions are often filled with people who have little experience because these individuals are still open to new trends and movements, as opposed to being committed to old fads. Therefore, if I was an employer, I would try to make a decision based on the requirements of the position I have to fill and the qualities of the candidates applying for the job.