Skills matter more than degrees in new U.S. Chamber of Commerce Foundation report paid gradsoflife
™ – which are focused on helping businesses address this very hiring challenge.”
Decision makers expect to adjust their recruitment practices as competencies become a primary factor in hiring. More than three-quarters of respondents agree that they will need to reassess the way they hire, and nearly half report that changing hiring processes is a priority in their organization.
These findings show that competencies, defined as knowledge and skills that can be observed, measured, or otherwise assessed, are more important to organizations than formal education credentials. Three quarters of respondents report that their company requires the submission of a credential in their hiring practices, but only one quarter claim the credential is used in assessing the candidate’s viability.
Respondents view partnerships with the education community as a way to provide talent with in-demand skills. Hiring managers are working with community education institutions, such as community colleges , technical or trade institutions , and higher education institutions, such as college bachelor’s programs or master’s programs .
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