- Some employers are rethinking degree and experience requirements for certain positions — in some cases dropping those requirements altogether — The Wall Street Journal reports. The report cited a Burning Glass Technologies analysis of select job sites showing the percentage of job postings that required a college degree dropped from 32% to 30% between 2017 and 2018.
- Experience minimums are also being relaxed, according to the Burning Glass Technologies analysis, which says the share of posts requiring three or more years of job experience have dropped from 29% in 2012 to 23% in 2018. That translates to 1.2 million jobs that could be open to less-experienced candidates, in addition to the one million jobs added in 2017 that included the tag "no experience necessary," the Journal said.
- "Down skilling," or relaxing job requirements that made sense when the labor market was plentiful, is becoming the new paradigm for businesses trying to attract and retain talent, according to the report. A tighter market has forced employers to choose between three options, the Journal said: lowering standards, increasing upfront salaries or retraining existing staff.
Recruiters have a challenging task before them in the current talent market, in which it’s estimated there are more jobs available than people to fill them. Creativity and flexibility are a must, and that has led some employers to reevaluate both their screening processes and job descriptions. Educational attainment requirements (and even GPA baselines) are an example of those elements that have come into question.
Large employers like IBM have been active in embracing the trend; the tech giant, formerly known for its rigid hiring practices, dropped degree requirements for certain new-hire categories, opting instead for "skills-based hiring." Some recruiting industry observers believe such trends will open more opportunities for candidates, many of whom have been displaced by changes in several industries.
Other employers can take a different approach: upskilling current employees to stay competitive. The bonus for business and staffers who look to retrain include the possibility of higher retention levels as well as the elimination of some recruiting costs. But recent research suggests that employers have a lot of work to do before serious upskilling efforts can get off the ground.