A survey by Northeastern University revealed that forty-eight percent (48%) of the HR leaders interviewed believed that the value of educational credentials had increased in the last five (5) years. Consequently, twenty-nine percent (29%) of them thought that it had held steady.
Educational credentials are fundamental in the job market as they propel efficiency and productivity. Notably, it is a crucial aspect of the hiring process.
Educational credentials necessitated in job openings
According to Burning Glass Technologies, a labor market data company, in 2018, some educational credentials, such as at least a bachelor’s degree, were necessitated in at least half of job openings in the US.
This was based on findings of job postings to the tune of tens of millions reviewed by the firm. This trend has been consistent for the last five years.
According to the Federal Reserve Bank of New York, the wage paid to college degree holders by employers has remained high. This shows the appreciation given by the job market to high educational credentials.
Notably, businesses and firms are continuously valuing degrees as depicted by the high rewards and remuneration given to educated workers.
Educational credentials needed in the modern economy
Educational credentials have proven to be fundamental in the present knowledge economy.
For instance, the survey conducted by Northeastern University showed that sixty-four percent (64%) of employers acknowledged the urge for constant lifelong learning. As a result, they demanded higher educational credentials and levels.
Knowledge acquisition has been rising because, by the time they turn thirty (30), about one (1) in ten (10) American adults has attained an advanced degree. This figure is double that recorded in 1995.
Technology has propelled the attained of distinctive educational credentials. This trend can be depicted by the actuality that at least three million (3M) US students undertake their studies entirely online.
Emerging trends, such as blockchain technology, have made the demand for their educational credentials high. As a result, many universities have started offering blockchain education online.
