Report: The Emerging Degree Reset | The Burning Glass Institute

Talent Acquisition Workforce Trends
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Last week, I posted how workers ages 65 and over in the US will account for more than 60% of projected labor-force growth from 2020 to 30. I mentioned how firms could partly address their talent shortages by attracting these workers to their companies with an employee value proposition aligned with this talent segment’s work preferences and motivations. Organizations can tap into another overlooked worker segment for their talent needs: those without a college degree. These workers often have the skills and desire to perform a job, but do not meet academic degree requirements for specific roles. This 30-page report shares findings from an analysis of over 51 million job postings in the US. The goal was to understand the extent to which firms are removing degree requirements from job descriptions. Results show that companies are moving away from degree requirements and toward skills-based hiring, especially in middle-skill jobs. This shift can open up 1.4 million jobs over the next five years for Americans without a college education. However, overall, 37% of middle-skilled jobs do not show a reduction in requiring a college degree, effectively stripping 15.7 million people out of firms’ candidate pool. While academic degrees are required for specific lines of work, where are there opportunities for your organization to shift from narrow academic requirements (that might be unnecessary) to more skills-based hiring? For another resource on “hidden workers,” check out this 74-page report by Harvard Business School, Hidden Workers: Untapped Talent. The three resources provided in this post can help firms identify opportunities for tapping into talent pools that often get overlooked.

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