Thursday, December 7, 2023
  • Login
CEO North America
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
No Result
View All Result
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
No Result
View All Result
CEO North America
No Result
View All Result

CEO North America > Business > Industry > The Next Era of Work Will Be About Skills, Not Pedigree

The Next Era of Work Will Be About Skills, Not Pedigree

in Business, Industry
The next era of work will be about skills, not pedigree
Share on LinkedinShare on WhatsApp

For decades now, companies have measured candidates largely by their degrees, years of experience, and other pedigree signals, which were used as filters to determine who to hire and promote.

However, the cracks in this model are becoming more apparent by the day: 61% of the U.S. business leaders surveyed by LinkedIn recently say it’s challenging to attract top talent right now — and studies suggest that traditional signals such as specific years of experience are flawed predictors of someone’s ability to do a job well.d

For companies who say it’s a tough environment to find the right talent, the math behind this approach shows why: Over 70% of jobs require degrees — but less than 50% of the U.S. workforce hold a bachelor’s degree. The talent pools shrink even further when employers screen candidates to recruit from a small pool of elite universities and top companies.

Against this backdrop, there’s a massive shift underway that’s steadily moving the labor market from a pedigree-based model to a skills-first model. Employers on LinkedIn are already making this shift, with roughly one in four job postings (24%) in the U.S. no longer requiring degrees, up from 15% in 2020. HR teams are also increasingly relying on skills as the key filter through which to evaluate a candidate’s ability and potential on LinkedIn, with over 40% now explicitly using skills data to fill their roles.

That sustained momentum suggests it’s no longer a question of if or when, but really a matter of how we collectively take the next steps now to make a skills-first approach a shared reality across all corners of the labor market.

The conversation is getting louder

Small conversations can often spark great change — and the same is true when it comes to our workplaces.

From remote and hybrid working to “quiet quitting” and the “Great Reshuffle,” the pandemic era has ushered in a new wave of workplace conversations that rapidly became workplace norms. A lot of those conversations take place on LinkedIn — where many of our over 850 million members and 60 million companies are regularly discussing all things related to work.

Among all the chatter, there’s been a clear uptick when we look at the volume of feed posts about skills-first talent approaches. We saw the average number of conversations mentioning these topics roughly double over the course of the year from October 2021 to October 2022.

The ongoing discussion on LinkedIn isn’t limited to HR professionals. Leading executives from a range of industries are also weighing in on the debate. Nielsen’s CEO pointed out, “I have begun to wonder why a college degree is a job requirement for so many roles.” Delta’s CEO gave up his page for a takeover to highlight how skills-based career pathways can help close the opportunity gap for Black talent. And LinkedIn’s own CEO is taking to his page to call on other employers to start recognizing and rewarding workers who don’t have degrees — half of the U.S. workforce.

However, recent findings from Jobs for the Future (JFF) show that there’s still a wide gap between employers’ desire to tackle this issue and their confidence levels in actually executing a new skills-first strategy. Some 80% of employers believe in prioritizing skills over degrees, but the majority (52%) say they are still hiring from degree programs because it feels less risky.

Businesses can start right now

The good news? There are working models and playbooks already in place, and companies can go beyond conversations to achieve concrete change. This doesn’t have to be a “risky” bet.

JFF partners with leading employers and large skills-based talent efforts such as the Business Roundtable’s Multiple Pathways Initiative to enact a skills-based talent agenda. They found that the companies that do this well usually get started with a straightforward formula.

First, they make it a CEO-level priority, set goals, and measure progress. Second, they start somewhere — anywhere. They don’t try to change the whole enterprise all at once. Rather, they zero in on one department or one practice and begin there. Third, they expand beyond skills-based hiring to include a skills-based approach to training and internal mobility. In time, these companies reap the rewards. The skills-based approach spreads across the enterprise and becomes embedded in the culture, day-to-day systems, and values of the company.

Taking some of these steps is not only a sound business strategy that expands your talent pipelines, but it can also lead to more equitable outcomes for populations of overlooked workers who may have the relevant skills, including 76% of Black workers and 83% of Latinx workers who currently don’t hold a four-year degree.

Early findings from LinkedIn’s new skills-first hiring tools show that adding more skills qualification transparency encourages more women, who typically set a higher self-qualification bar, to apply to jobs they may not have otherwise.

While it’s promising to see more companies having this conversation and asking the right questions, deliberate attention and measurement will be necessary to make sure these changes are having a positive and equitable impact.

Change won’t happen overnight. Paradigm shifts never do. However, it’s clear that doing something truly world-changing — building a labor market that is more efficient and equitable than ever before — is actually possible in our lifetime.

Courtesy LinkedIn. By Aneesh Raman. Article available here.

Tags: HiringSkillsWorkforce

Related Posts

Us mortgage refinance demand surges 14%
Industry

US mortgage refinance demand surges 14%

Us consumers purchased one million evs in 2023
Industry

US consumers purchased one million EVs in 2023

Mcdonald’s aims to add 9,000 new locations by 2027
Business

McDonald’s aims to add 9,000 new locations by 2027

Sag-aftra ratifies deal with amptp
Industry

SAG-AFTRA ratifies deal with AMPTP

Stellantis to relaunch fiat 500e ev in us market
Business

Stellantis to relaunch Fiat 500e EV in US market

Wells fargo cautions on high fourth quarter severance fees
Management & Leadership

Wells Fargo cautions on high fourth quarter severance fees

Cvs to restructure prescription drug pricing
Business

CVS to restructure prescription drug pricing

Us job availability reaches two-year low
Industry

US job availability reaches two-year low

Gold prices reach all-time high
Industry

Gold prices reach all-time high

Panera bread files for ipo
Business

Panera Bread files for IPO

No Result
View All Result

Recent Posts

  • Paris to build ‘urban forest’ amid city infrastructure
  • Google reveals advanced AI model, Gemini
  • TV bundles aim to retake streaming’s crown
  • US mortgage refinance demand surges 14%
  • US consumers purchased one million EVs in 2023

Recent Comments

  • CEO North America, August - September 2023 - CEO North America on Interviews – CEO North America, October – November 2022
  • CEO North America, August - September 2023 - CEO North America on CEO North America, December 2022 – January 2023
  • CEO North America, August - September 2023 - CEO North America on Why Tech Companies Are Moving to Texas and Florida
  • CEO North America, August - September 2023 - CEO North America on CEO North America, February 2023 – March 2023
  • Lab-Grown Milk Has Huge Potential to Disrupt Dairy – Simply Commodities on The dairy industry is in trouble

Archives

Categories

  • Art & Culture
  • Business
  • CEO Interviews
  • CEO Life
  • Editor´s Choice
  • Entrepreneur
  • Environment
  • Food
  • Health
  • Highlights
  • Industry
  • Innovation
  • Issues
  • Management & Leadership
  • News
  • Opinion
  • PrimeZone
  • Printed Version
  • Technology
  • Travel
  • Uncategorized

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

  • CONTACT
  • GENERAL ENQUIRIES
  • ADVERTISING
  • MEDIA KIT
  • DIRECTORY
  • TERMS AND CONDITIONS

Editorials –
stuart.james@ceo-na.com

Advertising –
advertising@ceo-na.com

NEW YORK

110 Wall St.,
3rd Floor
New York, NY.
10005
USA
+1 212 432 5800

HOUSTON

1201 Fannin St.
Suite 262
Houston, TX
77002
USA

  • News
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life

  • CONTACT
  • GENERAL ENQUIRIES
  • ADVERTISING
  • MEDIA KIT
  • DIRECTORY
  • TERMS AND CONDITIONS

Editorials –
stuart.james@ceo-na.com

Advertising –
advertising@ceo-na.com

NEW YORK

110 Wall St.,
3rd Floor
New York, NY.
10005
USA
+1 212 432 5800

HOUSTON

1201 Fannin St.
Suite 262
Houston, TX
77002
USA

CEO North America © 2022 - Sitemap

No Result
View All Result
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In