Resources - Mature Market Headlines

Sorry! You're Overqualified!

The Baltimore Examiner, 9/1/09

Abstract:

The largest generation since the depression is a group of people called the baby boomers, who are between the ages of 48 and 63. Therefore, the largest group of overqualified, over-educated, over-experienced people exists now. What does this mean for the recession/economic situation in which we currently find ourselves?

The economy is in the tank. The youngest baby boomers are turning 50 if they haven’t already. The latter fact makes the first one worse, and in turn, the economic situation makes hiring more experienced workers more of an issue.

Some feel one reason many companies are doing poorly or going out of business is the quality of employee, or lack of quality thereof. And neglecting personnel with more experience because the implication is that they will want a higher salary only exacerbates the situation.

For years some employers have hired less-experienced personnel in order to save money. In so doing, they skimp on experience and therefore quality. In an economic crunch, this occurs more so employers can save money. If they hire less experienced personnel they can pay them less. People are complaining that they are not being considered for work, are let go or forced to leave a job due to their experience. And it’s not because they are considered too old and incapable. Rather, it is because they are considered overqualified.

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