Job Candidates with Industry Experience: Asset or Drawback?
Across the world, the most recent economic downturn has left an astronomical number of people looking for work. Many are struggling to find a position that's right for their skill set. Many are over-qualified, while others aren’t qualified enough.
While unemployment rates have begun to show the slightest signs of improvement over the past few months, older workers are still struggling to find jobs. According to the Bureau of Labor Statistics, the unemployment rate for workers 55-and-over has hit an all-time high, consistently wavering between six and seven percent since 2010.
Industry experience: Not always positive, not always negative.
Although boomers may have the most career experience, freshly minted graduates and younger mid-level professionals are also looking for jobs at a high frequency. This creates a quandary for employers. Is it better to hire an industry insider, or go for someone with an outside perspective?
The answer truly depends on the candidate and the position. It's not a black and white issue. In some instances it may be better to hire a green candidate, while in others it may be wiser to go with someone with a wealth of relevant experience and industry expertise.
Employers must consider if the seasoned vet is limited by preconceived notions about the industry, has ingrained bad habits, or is unwilling to change with the times. On the other hand, newbies often have a steep learning curve, making them less efficient, and limiting their effectiveness.
There are pros and cons to each in nearly every industry. In some cases the choice may seem obvious, but be sure to take a closer look at what qualifications will make for the best employee within your organization.
Are you looking for someone to take the bull by the horns and run with the job with little to no supervision? Perhaps someone with a wall of sales awards can do just that, whereas a novice may need a hands-on manager or a mentor. However, a novice may have more potential, or bring in new thinking that could revolutionize your sales practice.
In the tech industry it may seem like the right move to hire someone who’s just received the latest training, but do they truly understand the complexities of real-life applications, or just the fundamentals? Can they handle a recovery situation if an entire network has shut down? Meanwhile, will someone who has spent his entire career working with a specific platform be willing to learn a new system?
In the field of medicine, technology may be the biggest hindrance to the seasoned vet. Although many patients would fret to see Doogie Howser walk into their exam room, the fact that many med students are being trained on the latest technological advances in medicine may very well change the face of medical recruitment, especially in specialty settings. But, does practical experience and knowledge out-weigh the training? As with nearly any other job, it depends on the position and the composition of the teams with which they'll be working.
Regardless of the industry, it's critical to understand the risks associated with hiring someone coming with a portfolio of skills. Is the investment worth the risk? Will they be retiring before the investment pays off? Will they have the fortitude to learn new skills as needed? Will they be willing to mold their styles to fit with others in the company? If the answer is no, perhaps it’s time to look at a different candidate, But, if the answer is yes, perhaps they're the right choice.
After all, industry veterans have the knowledge, the experience, the connections, and the true-to-life understanding of the ins and outs of the business. They've found success at various cross-roads in their career, and can very well bring that same level of success and database of ideas to your company.
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