Pros
Allows for young engineers to take on challenges and responsibilities that larger companies wouldn't. Young employees are encourage to take charge of difficult scopes and jump head first into the construction business.
Cons
Work hours can be long, but this seems to be "normal" in the construction industry. There is no such thing as a 9 to 5.
Advice to Management
Conduct bi-annual reviews rather than annual reviews for new employees. This will allow new people to more easily gauge how they are preforming. Perhaps provide a performance incentive.