The job market that has more qualified people than required and fewer job opportunities are creating a situation where more and more overqualified people are applying for jobs that require lesser educational or experience qualifications. HR consultants say that this puts the employers in a fix and they are cynical about hiring overqualified candidates. But, employers should know that every coin has its two sides, and they should decide on hiring such candidates after due consideration of both the pros and cons and depending on what their situation demands.
Decreased training costs: One who is overqualified doesn’t require as much training as others who are not qualified at that level. This reduces the cost of training the new hire would require.
Expand talent pool: Experts at HR consulting firms feel that hiring overqualified candidates helps in expanding the organization’s talent pool which could enhance efficiency and effectiveness in the processes.
Faster productivity: An advantage of hiring overqualified candidates, according to the HR recruitment agencies, is that they can get into full production sooner than the others that would bring in monetary benefits and minimize the efforts of those training the new joinees.
Meeting higher expectations: Overqualified employees bring with them a much better performance that leads to setting higher expectations for their role and achieving them.
Faster ROI: HR consultants opine that these employees give a faster return on investment because they can be handed over greater responsibilities in much lesser time and they would be able to achieve them with élan.
Complacency and boredom: The problem with overqualified employees is that they feel they can do their work effortlessly and complacency creeps in. Along with complacency comes boredom in their work and they lose interest in what they do that may result in inefficiency at work.
High turnover: HR consulting firms suggest watching such employees carefully and giving them additional responsibilities to improve their interest in the job else, they may quit soon. There may be chances of such people quitting soon if they get a better offer whether money wise or work wise.
Adapting difficulty: A person more qualified than required may find it difficult to adapt to the job requirements because he/she may have pre-conceived notions about their job which may vary in reality.
Co-workers’ concerns: Bringing an overqualified employee into team increases concerns among co-workers regarding the comparison of their work and security of their jobs.
Difficulty in training: Some jobs require updated training and employees who come with a lot of experience may not be open to new ideas and training methods.
Before deciding on whether to employ an overqualified person or not one has to thoroughly assess the benefits and risks of hiring such a person. The employer should assess the individual goals of the employee and verify if those are aligned with the organizational goals. Hire Accuprosys, one of the best HR recruitment agencies to assess your needs and candidates capabilities appropriately and select the right candidate.