Breaking News: Results from a recent survey published by Resume Genius Hiring Survey shows that most managers would now hire for skills than educational attainments.
This was discovered after the surveying about 800 HR managers.
The World Economic Forum has also recently stated that upto 50% of employees globally will need to up-skill by 2025 in order to retain relevance in the face of rapid technological advancements.
9AM News Nigeria recalls that once upon a time, employers would typically reject skilled candidates and would rather choose candidates with educational qualifications, especially a university degree.
But all indications now show that workers who have had no university education can be as productive and efficient as those who have had a university education. Furthermore, those without university education are less likely to quit their jobs or demand higher wages, making them less costly for companies.
Experts in the markets are now advising young people to focus on skills acquisition instead of pursuing a college degree if they are hoping to secure a well-paying job.
Microsoft’s recently published 2024 Annual Work Trends Index shows an increasing demand for AI skills at the workplace.
The Chief scence officer of Microsoft, Sara Gutierrez noted “The recent work trends show the growing demand for professionals with AI expertise, whose skills are proving to be resilient to market fluctuations.”
Some of the data from the poll shows that:
- 47% of HR managers consider educational qualifications to be important but not vital.
- 54% consider soft skills to be very essential.
- 43% do not require candidates to have a degree at all.
- 48% have rejected a candidate because they have not soft skills.
9AM News Nigeria observed that this trend in hiring is most prevalent in the tech and IT industry. Some mega companies likes Google, Microsoft, Meta, IBM and Walmart do not require a candidate to have a school degree at all to apply for jobs with them.
Ed Huang, The Co-founder and executive director of Resume Genius stated:
“As skills-based hiring becomes more widespread, we’re seeing a more levelp playing field emerge, where talented individuals from all backgrounds can showcase their abilities, pivot into new industries, and pursue their aspirations.
“It’s an exciting development that’s redefining what it means to be a successful candidate.”
Another comment from Klaus Schwab, The Founder and Executive Chairman of the World Economic Forum, reads:
“We have the tools at our disposal. The bounty of technological innovation which defines our current era can be leveraged to unleash human potential.
“We have the means to reskill and upskill individuals in unprecedented numbers, to deploy precision safety nets which protect displaced workers from destitution, and to create bespoke maps which orient displaced workers towards the jobs of tomorrow where they will be able to thrive.”
The World Economic Forum has recently alerted that by 2025 up to 85% million jobs may be lost globally due to the destruction caused by technological advancements.
What Nigerian employees must do
- Prospective employees in Nigeria must hustle towards upskilling.
- They must focus of mastering how to leverage Artificial Intelligence as the use of AI will become more widespread in various industries.
- Ogasabi believes that educational qualifications are still relevant but employees must not rely solely on a degree, if they are seeking to get good headstart or retain relevance in the world of work.
