I work at a university. When hiring, if someone doesn't have one of the "Required Job Qualifications", they are immediately disqualified. We can wiggle a little if we can infer one of the qualifications from other experience, but that is pretty frowned upon.

If we have things that we'd like to have but are not required, they are listed as "Preferred Job Qualifications". We then create a rating scale for each based on their relative importance and grade candidates one each of the preferred qualifications. We use the resulting rankings to determine who we will interview. We MUST interview every candidate above the lowest ranked candidate we interview.