The idea that you need a college degree to make a career in today’s market has been strongly ingrained in the American mentality for a long time. But as the labor supply has shrunk rapidly since 1997, employers across have found it difficult to replace critical positions with suitable people. Due to the skills gap, many businesses have started requiring at least a 4-year degree for many occupations that were previously open to high school graduates or those with the necessary skill set. This phenomenon is known as “degree inflation.”
Unfortunately, this talent acquisition strategy has mostly only served to reduce the pool of candidates from whom businesses can choose, making it more difficult than ever to identify and keep the best workers for the job. Continue reading to find out why the need for degrees has hurt recruiting efforts and how companies are addressing the problem to grow their talent pools moving forward. Read on to learn how people with degrees can be very useful to your company.
None of their educational background or family history, job hopefuls are not starting out on an equal footing. Access to mentors or role models for advice and support in navigating the higher education landscape may be hampered by a range of circumstances and environmental factors. Lack of role models makes it even harder for individuals without the financial resources to pay for higher education. Additionally, it makes people put off thinking about going to college. Employing persons without college degrees boosts their chances of success, which promotes greater equity.
Diversity of Knowledge & Experience
Candidates without college degrees can help increase innovation, which will further boost creativity within their teams, in addition to diversifying the workforce. The “real world” experience that is sometimes required for many jobs does not necessarily come with four years of education. People who are diverse in terms of not only their ethnicity, age, or gender, but also their educational and professional experiences, for example, are the ones that come up with new ideas and see perspectives through a different lens.
Younger workers who lack a four-year degree may be more devoted to your business and their team if you invest in them. Giving workers the chance to develop and take ownership of initiatives empowers them. Team members (of any educational level) will want to cling onto the feeling of agency they experience when they have it, which will further increase commitment and lower turnover.
The bottom line is constantly on the minds of business leaders as they develop their organizations. Employees with a formal, four-year post-high school education do, nevertheless, earn incomes that are higher than those without a college degree. Business owners can boost pay as an employee’s experience and responsibilities grow by starting them off with a lower salary consistent with their experience.
More Accessible Positions
We are aware that a four-year college education is expensive, to put it mildly, and that it leaves graduates with substantial student debt. A candidate can enjoy their professional life without having to worry about debt if they choose not to follow the conventional path of attending high school and college.