Hiring managers in the United States are considering if accepting overqualified candidates is worth the risk of a quick exit, according to a new report.
Findings from Express Employment Professionals and The Harris Poll revealed that 70% of hiring managers typically consider overqualified candidates during recruitment.
On the other hand, 58% of employers said they would rather train someone new than risk disengagement from an overqualified employee.
The division among employers comes amid the benefits and disadvantages of hiring overqualified candidates.
Half of hiring managers believe that overqualified candidates have more confidence on the job. They also believe that these jobseekers:
Are more productive (48%)Have better decision-making skills (47%)Have the ability to mentor junior employees (46%)Require little to no training (45%)
However, 75% of employers are concerned that overqualified candidates struggle to stay motivated in lower-level roles, according to the report.
Nearly three in four (74%) are also worried that these candidates will leave as soon as a better opportunity comes along.
Bob Funk Jr., CEO, President and Chairman of Express Employment International, noted that skills-based hiring may be the answer to this debate.
“Overqualified candidates represent a chance to secure top talent in today’s market,” Funk said in a statement.
“The key is to focus on skills-based hiring, which widens the talent pool by looking beyond résumés and degrees and makes the best use of a candidate’s abilities and ambition. Without that alignment, the risk of a quick exit is real.”
Jobseekers’ concerns on overqualification
Concerns stemming from the presence of overqualified candidates are also present even among jobseekers, according to the report.
More than half of jobseekers believe that it’s “impossible” to compete against overqualified candidates during recruitment.
They believe companies are more likely to hire an overqualified applicant over someone with entry-level experience (74%).
They also assume that employers prefer these candidates because they “bring more to the table” (67%), according to the report.
Despite this, 87% of jobseekers believe it’s appropriate to apply for jobs that they’re overqualified for.
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Hiring managers are divided on hiring overqualified job seekers.