College degrees aren’t as rare and valuable as they once were. Everyone seems to have one these days, so that new grads are suffering from degree inflation: a bachelor’s degree is the new high school diploma, and a master’s degree is the new bachelor’s. Forget climbing the corporate ladder without one. But does education really predict job performance, especially in a degree-inflated market?

As many studies tell us, job performance does not correlate to college grades. Yet countless organizations still require college degrees, prioritizing education above experience in the same industry or role. When considering education versus experience, which candidate would logic dictate has the best chance of on-the-job success?

When you hire your next candidate, think about these factors beyond education:

• Experience. Just because a candidate lacks a degree doesn’t mean they lack commitment or knowledge. Why not hire a candidate who understands the business in practice instead of theory? And we all know a college degree isn’t required to succeed in the business world—just look at Bill Gates (Microsoft), Richard Branson (Virgin), Mark Zuckerberg (Facebook), and scores of other hugely successful degreeless professionals.
• Learning. The desire for and ability to learn may be the most critical trait to seek in a new hire. Lifelong learners are motivated, passionate, and eager to better themselves and their companies. They are the ones who will step in to cover the skills gaps we so often see. And while this trait might not be immediately apparent from a resume, it can be fleshed out with practical interview questions. Ask how a candidate tackled a project when they were given few tools or background information. You can also ask what skills a candidate has recently learned, how they learned them, and what drove them to learn those skills.
• Leadership. Is this candidate a natural leader, able to guide and influence others to achieve a desired outcome? Can this candidate recognize when someone else would be better suited to take the lead? The ability to step up and lead is a key indicator of success at any level of the organization.

Although degree inflation has made a college education less of a standout qualification, a degree can still show an important trait: that candidate was in a position to commit to and complete four or more years of voluntary education. The real question to ask when considering education in a new hire might be, Would you want any exceptional candidate to pass you by if they had all the knowledge, skills, and experience to move the company forward?