Experience can be a great thing when hiring an employee. In fact, I've discussed the chicken or the egg (AKA hiring experience vs. hiring ambition) several times and in many of my blog posts. What I want to discuss today is why hiring an overly qualified candidate can be a bad thing. Now, we here at Building Team Solutions, agree that this subject is concerning. With the economy being tough, more overly qualified candidates are having to take entry level jobs. And, in some cases this works out. But there are concerns to be considered before hiring someone who is too qualified for your open position.
Overly qualified job applicants often don't stay in entry-level jobs for long. In fact, they are constantly looking to move up the corporate ladder. And who could blame them? But, their over qualification could leave you looking for another candidate sooner than expected.
You also don't want to consider hiring an overly qualified candidate because there is a resentment factor. Again, this is not with every single case- but it happens enough to note. An overly qualified candidate is awarded an entry level position. Remember, a position they applied for. The man or woman starts the job, is frustrated that he or she is not where they expected to be professionally, and they start to resent your company as a result. And then they spread that resentment within the company. Maybe, they even think some work duties are beneath them. If you're considering hiring someone who is too qualified, make sure you address these issues before making a job offer.
Finally, consider your budget. You might find an overly qualified candidate who simply wants less responsibility now to allow for more time with his or her family. There is nothing wrong with this. But, what about pay? You might have to raise your expectations a bit. Are you ready for this? Let's say you were expecting to pay a candidate 35k. And, let's say the overly qualified candidate really wows you but he or she is asking for $40k- still a bargain given the person's experience and knowledge that can be brought to your company. Is their experience worth compromising your budget? Well, this is a personal decision based on your company's overall goals and financial standing. However, in most cases the answer is no. If you have a budget, stick with it.