Due to spate of rationalisations and redundancies in recent years the available candidate pool for job opening has increased significantly but the availability of roles for these professionals has reduced dramatically. Professionals who director level positions but now find themselves outside of the organisation are happy to look (and can make compelling cases for) roles that previously reported into them. However in Talent Partners experience talking with our existing and prospect clients, and from speaking with senior professionals in the senior marketplace we know there is significant reluctance from many employers to recruit many of these candidates into roles because they are viewed as over qualified and probably using this role as a stop gap or stepping stone to bigger and better things. This argument has been in vogue in the Irish marketplace since late 2008 but the market hasn’t progressed as per most people’s expectations. Did/have businesses lost an opportunity to strengthen their position in a challenging environment because of a perceived fear/
What follows is an article from Melany Gallant where she discusses and tries to allay some of these fears as well as stressing the benefits. We hope you enjoy the read.
“I have 10 years of experience, I have strong references, excellent connections, but I can’t find a job because I’m overqualified.”
This is the story that many newly unemployed, ‘overqualified’ job applicants know all too well. Though there is often concern that hiring someone with too much experience could be risky (the main worry being that they’ll use the job as a stepping stone until something better comes along), studies have consistently shown that the benefits of hiring an overqualified candidate far outweigh the risks!
As the American economy slowly tries to recover from its devastating financial collapse, managers face a common challenge: how to handle all the eligible candidates that come through their doors.
Let’s debunk the myth of the alleged risks in hiring overqualified candidates and look at the actual benefits of taking a chance on an overqualified contender.
But first…
What Is Overqualified?
Too educated, too experienced, we call a person overqualified when their skills and/or level of education are beyond what is necessary for a certain position.
Some of the initial concerns managers have about hiring people with too much experience include:
- Boredom. Lack of challenges may cause the overqualified worker to get bored with work and leave the company.
- Using the job as a stepping stone. A common belief is that ‘overqualified’ candidates may be using the contending position as a stepping stone. The person may apply for the job to tie them over before a better opportunity arises.
- No sense of loyalty. The overqualified person may not feel a sense of attachment to the position or the company.
- Superiority issues. An overqualified person could harbour some haughtiness towards management and peers, or a have a strong sense of entitlement because they have more experience. If the person feels too good for the job, they could feel little need to abide by the standards of a system they feel superior to.
- Advancement issues. Hiring someone who is overqualified may kindle some challenging dynamics when it comes to who deserves certain promotions and rewards.
- Job satisfaction/performance problems. Performance and job satisfaction are strongly linked. If a person is unsatisfied with the nature of their work they will be less likely to perform favourably.
- Expectations. A person who is overqualified may expect more money and other incentives to stay, which the employer may not be able to offer.
Breaking The Myth
Research shows that the risks of hiring someone who is overqualified are more perceived than actual. Studies have consistently shown that overqualified workers actually perform better and the only reason they move on is mainly due to working conditions.
Two recent studies, outlined in the Harvard Business Review—one analyzing data on more than 5,000 Americans, the other examining 244 employees of a Turkish apparel chain—showed that overqualified employees actually outperform their colleagues.
Why Hiring An Overqualified Candidate Is The Way To Go
It’s important to understand people’s motivations for wanting a position. Though the person may be eligible for a “better” one, there can be a myriad of reasons why they may not want that job. It doesn’t mean they wouldn’t be right for this one.
What Benefits Will An Overqualified Worker Bring Your Company?
- Lowered training costs. You can save significantly on training expenses when you hire someone who is already qualified. Plus, instead of focusing all their energy and attention on learning what is required for the position, they can channel their efforts towards offering new insights about the position and potentially improving working practices.
- Leadership and mentoring aptitudes. Research collected by the Harvard Business Review shows that people whose expertise are beyond the required skills necessary for the position are actually more geared towards excellence in performance and doing a good job. Not only can an experienced hand act as a mentor to junior staff, but also push senior staff to achieve higher levels of performance.
- Offer new skills. There can be many benefits in hiring someone whose area of expertise may not be represented at the company yet. Their expertise may lead to new services that can be offered to clients or help improve working practices.
- Offer new leads. Hiring someone who has considerable experience in a certain field also opens the possibility that they will have an extensive contact list or network that could generate new leads and thus expand their role in the company in the future.
Hiring managers certainly have some important decisions to make and many factors to consider with the overflow of applicants coming through their doors. But when someone comes in and hands you an impressive list of credentials, don’t pass up a goldmine!
It’s important to consider the motivations of each candidate pursuing a position. Overqualified candidates may take a less-demanding job for a lifestyle or health choice or the simple need of earning a pay cheque. The bottom line is overqualified candidates can yield exceptional results for the company and it would be silly to disqualify them for reasons that turn out to be little more than myth.
If you are looking to strengthen your team today please do not hesitate to contact us at Talent Partners to see how we can help with your recruitment plans.
