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The rise of skills based hiring: Nearly half of employers don't consider a degree important according to new research
Is having a degree losing its importance in today’s workplace? According to new research released by Hays, nearly half of employers (45%) say it is no longer important to them that a job applicant has a degree.
A further 39% of organisations say a degree is quite important but not essential when hiring, whilst only 16% say having a degree is essential according to the research which is based on a survey of nearly 15,000 professionals and employers.
The research follows the rise of ‘skills-based hiring’ as almost three-quarters (73%) of employers believe an employee’s willingness to learn is more important than their existing skillset.
Additionally, 80% of employers would be likely to hire a professional who does not possess all the required skills, with the intention of upskilling them, rising from 73% who said the same last year.
Employers in the private sector are more likely to say that having a degree is not important (49%) compared to 31% of employers in public services organisations. Over one in five (22%) public sector employers say a degree is essential and they wouldn’t consider an applicant without it.
These findings mirror those of employers based in the capital, with over one in five (21%) saying they wouldn’t consider a job applicant without a degree.
Overall, of the employers who deem a degree essential when hiring (16%), 72% said they would prefer a level 6 qualification (such as a bachelor’s degree, graduate diploma), whilst 26% said they would prefer a level 7 qualification such as a master’s degree.
Simon Winfield, CEO of Hays UK and Ireland, comments: “It’s encouraging to see employers are becoming much more open minded when it comes to hiring staff in a skills short market. There are still professions where degrees are required or preferred, however there’s so many more routes into the world of work including apprenticeships and academies where professionals can earn and learn at the same time. Opening up routes to entry is so important for levelling the playing field for professionals, with plenty of employers indicating aptitude and willingness to learn is more important than existing skillsets.
Employers who can support different options to access work, focusing on skills and experience rather than qualifications will be more likely to stand the test of time when it comes to having the talent they need.”
About the research: The survey was conducted between the 10th of August – 11th September 2023 and received 14,915 responses.
Contact Helen Flannery Senior PR Manager helen.flannery@hays.com T: 020 3040 0282 M: 07548 778306
About Hays
Hays plc (the "Group") is the world’s leading specialist in workforce solutions and recruitment, such as RPO and MSP. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK, Germany and Australia and one of the market leaders in Continental Europe, Latin America and Asia. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 30 June 2023, the Group employed over 13,000 staff operating from 252 offices in 33 countries. For the year ended 30 June 2023:
