Have you been thinking about increasing the educational requirements needed for jobs at your company?
If your answer is yes, you’re joined by over a third of today’s employers. According to a new CareerBuilder survey, 38 percent of hiring managers have increased educational requirements over the last five years. Thirty-three percent are hiring more workers with master’s degrees for positions that had been primarily held by those with four-year degrees, and 41 percent are hiring employees with college degrees for positions that had been primarily held by those with high-school degrees.
Why Raise Requirements?
Of the 2,605 hiring and human resource managers surveyed, those who increased educational requirements have noticed a positive effect across the board, in many critical areas:
- Higher quality work: 61 percent
- Productivity: 51 percent
- Communication: 45 percent
- Innovation/idea generation: 41 percent
- Employee retention: 33 percent
- Revenue: 26 percent
- Customer loyalty: 24 percent
What Does This Mean For You?
Unsure about whether you should help your workforce reach these increased education requirements? About half of employers (51 percent) plan to provide more online, competency-based learning opportunities to their employees in 2017. Forty-one percent of employers are sending current employees back to school to get advanced degrees – with 14 percent fully funding the degree, and 22 percent funding it partially.
Investing in your employees’ education means investing in your business. Providing training to upskill current employees and helping employees go back to school to get their degree or certification can help improve your company’s bottom line.