The skills gap is generating unprecedented attention — and with good reason. Nearly 8 million Americans are unemployed and looking for work while an estimated 6 million jobs remain unfilled. Fifty-three percent of college graduates students believe they’re ready to apply their skills and knowledge in the workforce, but only 23% of employers agree. It is increasingly clear that misalignment between postsecondary education and workforce needs is suppressing economic productivity and growth, as systematic reliance on degrees as a skills-proxy, exacerbated by an epidemic of upcredentialing, prevents individuals and employers from achieving their potential.
Fortunately, the shift from degree- and pedigree-based hiring to competency-based hiring is accelerating. A panoply of educational options now allow job-seekers to acquire skills in close to real-time. Employers are pioneering data-driven approaches to scout and acquire talent — closing skill gaps, increasing diversity, and driving social and economic mobility.
Next week, at the fourth annual Close It Summit produced by Innovate+Educate, the employers, educators and entrepreneurs leading the competency-based hiring movement will convene to move the revolution forward. The shift is real. And here are the top 10 signals it is happening now.
