It’s a truth universally acknowledged that an overqualified employee must be in want of a new role.
And, unfortunately, that means HR has to work extra hard to keep the top talent on their own playing field and out of the arms of a grabbing competitor. A recent article from CNBC revealed that there is more than one way of keeping an overqualified employee happy and, therefore, less likely to jump ship.
Berrin Erdogan, Professor of Management at Portland State University, explained them in an ‘Ask Me Anything’ thread on Reddit. She wrote: "Those who are objectively over-educated for their jobs also are likely to change jobs more quickly.
"There is a positive correlation between perceived overqualification and turnover intentions. This could be because they are bored but also because they have the qualifications to actually leave.
"You get more skills, but someone who is more of a flight risk. My own research, as well as that of others, also has shown that there are conditions under which feelings of overqualification do not translate into higher turnover.”
CNBC also reported on what Erdogan suggested in order to keep your most valuable assets in the office and avoid a hiring spree.
We have collated the three pieces of advice and listed them below.
If you want a good employee to stick around, then give them a say in how the business is run. If they feel like they have a voice and that their opinions and suggestions are valued, then they will be more likely to stay with you.
“We found that empowerment plays the role of a buffer. When employees have autonomy, and when they feel that they have the ability to influence their work environment (rather than being expected to take a passive, cog-in-a-machine approach to work), their turnover rate is no different from others," commented Erdogan.
Click next for the further two suggestions…