AI, Skills and the Death of Degrees: The HR Earthquake You Can’t Ignore
Ah, the sweet scent of freshly pressed degrees. For decades, a college diploma felt like a golden ticket to career success. But guess what? The world of employment is waking up and realizing it might have been more of a temporary “get out of jail free” card. With AI creeping into every nook and cranny of the job market, that college degree is taking a backseat to something more important—skills.
The Rise of Skills Over Degrees
According to a recent McKinsey report, 87% of companies are already experiencing skill gaps in their workforce. As new technologies forge ahead, we’re seeing a transformation in what it takes to land a job—namely, a shift from degrees to skills. In fact, job postings that list "skills" as a requirement increased by over 30% since the start of 2020. That’s a hefty jump.
More companies are turning to platforms like LinkedIn and Coursera to gauge potential employees based not on their Ivy League alma mater, but on their competency. The pandemic accelerated this transition, revealing gaps in both skills and the educational system itself. It’s become painfully clear that knowledge doesn’t necessarily equate to action; after all, no one wants a candidate who can recite Shakespeare but can’t operate Zoom.
With this shift towards skills, instances of “degree inflation” are also on the rise. Employers are requiring higher educational qualifications for positions that didn't need them in the past. This creates a workforce where applicants hold impressive resumes, yet their actual capabilities do not match the expectations. According to indeed.com, over 27% of job seekers reported feeling that most jobs require degrees far beyond what the position calls for.
Job Seekers—Focus on Skills!
Now, you might be thinking, “Great! Just when I’ve finally paid off my student loans, the job market decides that my degree is worthless.” Don’t lose hope just yet. This shift can be both daunting and an opportunity to harness what’s truly valuable in modern employment: practical skills.
To ride this skill-centric wave, professionals should invest time in both self-education and upskilling. Popular skills sets are popping up left and right (intermediate Excel, anyone?)—but that’s not all. Technical knowledge in the fields of software development, data analysis, and even digital marketing are increasingly in demand. As companies automate processes, they need more human brains to optimize and manage these tools. Data science job postings alone skyrocketed over 200% from 2019 to 2022, and it doesn’t seem to be slowing down soon.
So, how can job seekers pivot? Here are a few tips to keep you ahead of the curve:
- Upskill or Reskill: Invest in online courses or certification programs for pivotal skills in your industry. Platforms like Udemy and edX offer a buffet of options.
- Networking Matters: Join online or local communities focused on your career passions. Being a part of a network can lead to skill-sharing opportunities that may surprise you.
- Showcase Skills on Resumes: When listing your skills on your resume, include quantifiable achievements (think numbers, percentages, and tangible results) that demonstrate your capabilities rather than emphasizing the degree itself.
With 60% of companies around the world emphasizing skill-based hiring practices, the future looks different. Traditional gatekeepers like degrees are losing their grip, and instead, employers want candidates who can solve problems, work collaboratively, and adapt to new technology with grace.
