Yes, mandatory service is essential
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Mandatory service can save governments money
Mandatory service can save governments money on ads and commercials to promote volunteer service. Mandatory national service also helps keep the economy stable because people who serve their nation are more likely to keep steady jobs and give back to the nation.
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National service programs have been proven to save the government money. Streamlining processes and guaranteeing people to serve creates costs in personnel and advertisement for national service agencies.  Also, the population of the national service would be more evenly distributed and would not be plagued by the racism, sexism, and misogyny that it is now. This would also save the government money on equity and sexual assault trainings and programs.  Through mandatory national service, the demographics of the national service would become more representative of the nation's demographics. With a population more evenly distributed by race and gender, the military would not be plagued by the racism, sexism, and misogyny that it is plagued with now. Mandatory service can also take on other forms besides military service, including community work. Having steady numbers of people in needed community settings would alleviate the cost of maintaining programs for those areas. 
Mandatory military service could cost the government millions of more dollars. If more citizens were to flood the system, there would be more benefits needed for those citizens, including water, food, shelter, and weapons.  These things are wildly expensive. The system for selecting mandatory service citizens would need to be developed and stream lined to notify people of their upcoming mandatory service. This new system would also cost the government large sums of money to create and implement. Mandatory service does not save the government money in the short term or the long term; it forces more people into service which will cost the government more money.