The U.S. economy was quite strong in 2019. By August, Americans had enjoyed 106 consecutive months of job growth (the longest streak ever), 121 months of bull markets, and 16 months with a 4% (or less) rate of unemployment.
However, the unemployment rate doesn’t tell the entire story. Americans might be able to find jobs, but they may still be considered underemployed. Defined as having a job that doesn’t utilise your experience, education, or skill sets. While this might be a product of taking a job that doesn’t align with your college study or a position that doesn’t fully match your resume, it also typically involves being underpaid for the work you do.
For a closer look at why companies hire over- or under-qualified candidates, SimplyHired surveyed 984 hiring managers for their insight and hiring practices. Read on as we examine how often companies consider over- or under-qualified applicants, how those candidates are perceived, and the ways in which companies attempt to set up their employees for success. Some of the key findings include:
- Roughly 1 in 4 hiring managers admitted not hiring an under-qualified candidate because their company can’t offer proper training
- About 72.3% of hiring managers offer training/development opportunities for under-qualified candidates, overall, 71.2% of hiring managers admitted they were satisfied with going the extra mile
- Nearly 7 in 10 hiring managers offer under-qualified job candidates mentorship to help them succeed in their new role, while only 30% offer the same to overqualified employees
Click here to download the full study.