Have Degrees Had Their Day? The Rise of Skills-Based Hiring in the Modern Workforce
The recruitment landscape is undergoing a seismic shift. The once inviolable requirement for a university degree is becoming less of a deciding factor in the hiring process. Instead, the spotlight has been turned on a candidate's skills and real-world experience. Over the past year, skills-based hiring has surged by a staggering 63%, marking a significant departure from the traditional recruitment norms 1 .
Why the Shift?
The shift towards skills-based hiring is largely driven by three factors. Firstly, the rapid pace of technological advancement is creating new roles and industries where the ability to adapt and learn quickly often holds more value than a formal degree.Secondly, the COVID-19 pandemic and its fallout have accelerated the need for businesses to be agile, to innovate, and to do more with less. In such a landscape, hiring for skills offers a way to bring in fresh ideas and new perspectives, while also speeding up the hiring process.
Lastly, there is an increasing recognition that a university degree is not the only pathway to gaining valuable skills. Apprenticeships, online courses, bootcamps, self-learning, and work experience all offer avenues for individuals to develop a wide range of competencies.
The Benefits of Skills-Based Hiring
The benefits of skills-based hiring are manifold. It broadens the talent pool, allowing businesses to tap into a wider range of candidates, including those who may have been overlooked in a more traditional hiring process. This not only increases diversity of thought within teams but also creates a more inclusive and equitable job market.
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By focusing on skills, businesses can also speed up the hiring process. Skills are easier to assess than potential, and a candidate with the right skills can hit the ground running, reducing the need for extensive onboarding and training.
A Look to the Future
While the rise of skills-based hiring is clear, it does not mean that degrees have become obsolete. Far from it. Degrees still have their place, especially in fields where specialised knowledge is required. However, they are no longer the be-all and end-all.
The future of hiring is a balanced approach that values both education and skills. As we move through 2023, skills are becoming the new currency of the job market. It's up to us, as HR leaders, to keep pace with these changes, recognise talent in all its forms, and shape recruitment strategies that truly value the potential of every candidate.
As we navigate this evolving landscape, we must remember that our ultimate goal is to build teams that are diverse, innovative, and capable of rising to the challenges of the modern world. Skills-based hiring is a powerful tool that can help us achieve that goal.
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1 年Graham David FInstLM having worked in recruitment for 30 years, I never understood the importance attached to degrees. A well known management college near Marlow used to specify on the job specs, a requirement for a degree on secretarial vacancies, therefore shrinking the pool of talent available to them. Ever since advising them against doing this I've never understood why anyone would want to shrink the pool of talent that they are recruiting from? The best person for the role every time. If that happens to be a graduate, fantastic.....but don't ignore others just because they didn't fall for the Blair push towards University....they may well have taken a different approach to gaining education and skills.