Cengage Group, a global education and tech company, just launched the 2022 Employability Report, polling 1,000 U.S. hiring decision makers to understand what’s driving today’s talent crisis - a follow-up to their recent Graduate Employability Report, which surveyed recent grads. The new report found:
- Nearly two-thirds (65%) of employers are struggling to find talent likely because a college degree is still the gatekeeper to employment:
- Only 9% f employers say that college degrees are not an indicator when considering a candidate for an entry-level job
- Nearly tw-thirds (62%) of employers still require a degree for entry-level jobs
- More than quarter (26%) do so because they need to filter the candidate pool or because "that's the way it's always been done"
However, when considering a candidate for an entry-level job, employers believe the following are the most important:
- Skills training credential (43%)
- Real-world experience (28%)
- College degree (26%)
Despite their hiring standards and requirements, employers are starting to change their mindsets as they realize that a degree does not = career readiness. In fact, the report found:
- Nearly one in 10 employers (9%) say no degree is required to apply for entry-level jobs they have listed
- Amng employers who do not require a degree, nearly half (48%) say it’s because they believe candidates can attain the proper skills through life experience, internships, skills training credentials, stackable credentials and hands-n experience
- Additionally, most employers offer employer-paid/employer-sponsored education opportunities (75%), with 61% offering paid online education opportunities
You can find the full press release here. Let me know if you’re interested in connecting with Cengage Group for insight on what these findings mean for the future of our workforce.
