With the high unemployment rate, it’s not only the unqualified that can’t find work but the highly “overqualified”. I am finding that the small business employers are “afraid of hiring someone who is overqualified for a position. The reason given are many and include the fear of that person looking for another job and leaving.
My recommendation is to hire that overqualified person; another term may be “downsized talent”person. They can bring a wealth of support to a small business.
Top talent would have never been available to a small business owner if the economy was not in trouble. Top talent can provide new thinking with more and better solutions to grow the business.
In order to keep this top talent from looking for other opportunities, they should be given responsibility and a challenge. A fast track career path is also an incentive.
Financial incentives tied into the business growth is another motivator.
In my experience there is another major benefit to hiring the “downsized person”; they are usually older, more appreciative and, in many cases are more reliable.
Find out what special talents such a person can contribute to your small business and then make sure your management philosophy provides an atmosphere where success is encouraged.
This is a unique opportunity; don’t look at the current economic climate as a negative; find the diamonds buried in the rubble.
Life is not simply holding a good hand. Life is playing a poor hand well.
Nick J. Petra
Certified Financial Planner
Business Coach and Mentor