The Value of Experience in Hiring: Why Senior-Level Talent Still Matters

Do today’s employers favor mid-level professionals over experienced industry veterans? That is the prevailing theory among job seekers, but aspiring employees don’t necessarily have the data to support this theory.

Certainly, businesses are always looking for ways to cut costs. However, experience remains a critical asset in the workplace. Both employers and job seekers must understand the realities of the job market in order to get the most out of the hiring process.

In this article, Mac & Fulton explores why senior-level talent is valuable to businesses with the hopes of helping qualified candidates get better recognized in the field. 

The Perception vs. the Reality

Many people believe companies prefer less experienced candidates because workers with just a few years of experience expect lower compensation, thus allowing cash-strapped businesses to save on labor costs.

Having worked so hard to obtain knowledge that can benefit employers in their field, many senior professionals feel overlooked and believe they are discriminated against due to their age.

AARP data suggests that 90% of adults 50 and older in the labor force believe age discrimination is common today. This belief is only reinforced by the fact that in most years since 2019, hiring for new grads has increased, sometimes by double-digit percentage points.

Although cost-saving strategies are in play, however, many employers still prefer to hire experienced candidates, especially when it aligns with business needs. 

A recent survey found that nearly 40% of employers prefer to hire senior-level talent with more experience. Many indicated that they were willing to spend even more on salaries and benefits packages to attract these workers.

Why Experience Matters for Employers

Experience makes a difference in candidate quality and performance. Many senior-level professionals have demonstrated their ability to work hard and stay the course, ultimately achieving long-term success. Some additional benefits of experienced candidates include:

• Reduced Learning Curve: Senior-level talent doesn’t need as much ramp-up time, reducing their time to productivity and lowering training costs.
• Stronger Leadership and Problem-Solving: Senior-level workers have experience thinking strategically and making decisions under pressure.
• Institutional Knowledge and Industry Insight: Experienced workers understand the industry and have cultivated networks that benefit employers.

For these reasons, senior-level talent is better equipped to help organizations achieve their objectives.

Overcoming Hiring Biases: A More Strategic Approach

Many employers believe that seasoned professionals are set in their ways and do not wish to learn new skills. However, recent research proves otherwise. According to AARP surveys, 86% of employees over the age of 40 actively seek out ways to grow and enhance their skill sets.

Clearly, experienced professionals have the desire and ability to adapt to new challenges in the workplace. This attitude, coupled with the fact that they can mentor younger employees and drive efficiency, makes them highly attractive to employers. 

Though it may be tempting for employers to focus on labor costs, they must also evaluate the long-term impact of hiring and retaining seasoned professionals. This is especially crucial as U.S.-based businesses continue to lose a collective $1 trillion per year in turnover costs.

The Importance of Decisive Hiring

In a competitive hiring landscape, employers must act decisively. Otherwise, they may find themselves losing out on top talent. Employers must clearly establish the core qualifications needed for each role so that when they find the right candidate, they can move quickly to make an offer and reduce the time to hire. 

Of course, salaries will always be a top concern among both applicants and potential employers. However, higher salary expectations should be weighed against the value of expertise, leadership, and the ability to solve problems quickly, as these qualities and skills can also bring cost savings.

Advice for Job Seekers With 20+ Years of Experience

If you’re a seasoned professional who is currently job hunting, here’s how to best position yourself to catch the eye of employers:

• Highlight Transferable Skills: Show employers how your experience can help them tackle modern business challenges.
• Demonstrate Adaptability: Communicate your proficiency in new technologies and knowledge of the current industry landscape.
• Position Yourself as a Problem-Solver: Focus on your ability to drive results.
• Be Open to Negotiation: Consider total rewards, including benefits, stock options, and flexible work arrangements.

Use these tips to showcase how you plan to use your experience to drive the organization forward.

Reap the Benefits of Experience with Senior-Level Talent 

Employers who recognize and embrace experienced professionals can reap the benefits of reduced time to productivity, stronger leadership, and industry expertise that leads to better decision-making and problem-solving. Skilled job seekers should highlight these qualities along with their adaptability to compete in today’s job market.

Are you looking for qualified candidates to fill roles? Contact M&F Talent today to access a network of highly vetted top-tier professionals.