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This structural reset is a promising development. (This population includes potential employees that have been described as “hidden workers” and “STARs.”) This shift to skills-based hiring will open opportunities to a large population of potential employees who in recent years have often been excluded from consideration because of degree inflation. The essence of the structural reset is this: In evaluating job applicants, employers are suspending the use of degree completion as a proxy and instead now favor hiring on the basis of demonstrated skills and competencies.
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Among the jobs most affected were those in IT and managerial occupations, which were hard to fill during that period. Between 20, employers reduced degree requirements for 46% of middle-skill positions and 31% of high-skill positions. That became increasingly apparent during the tight employment market of the late 2010s. If demand for talent far outreaches supply, employers de-emphasize degrees. The second, a cyclical reset, began in 2020, prompted in part by the Covid-19 pandemic. The first, a structural reset, began in 2017, at the outset of the 2017–2019 bull market for workers. This recent reset has happened in two waves, both of which are ongoing.
#The inn between hiring full#
(The full report on our findings can be accessed via Harvard Business School, on its Managing the Future of Work project home page, and via Emsi Burning Glass, here.) To a lesser extent, the change is also noticeable at some companies for higher-skill positions. The change is most noticeable for middle-skill positions - defined as those requiring some post-secondary education or training but less than a four-year degree. What we’ve learned is that employers are indeed resetting degree requirements in a wide variety of roles. To find out, we partnered with Emsi Burning Glass, a leading labor-market data company, and analyzed more than 51 million jobs posted between 20.
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Many large corporations soon announced that they would eliminate degree requirements in much of their hiring.Ī decade has now passed, and it seems time to ask: Have companies followed through? Has the degree-inflation tide turned? If so, what role, if any, has Covid-19 played in making that happen? The trend - sometimes known as “degree inflation” - became particularly pronounced after the Great Recession of 2008-2009, at which point leaders in government, business, and community-based organizations recognized that a reset was in order. Early in the 2000s, a significant number of employers began adding degree requirements to the descriptions of jobs that hadn’t previously required degrees, even though the jobs themselves hadn’t changed.