In a joint op-ed published in the Wall Street Journal, the CEOs of Home Depot and Walmart U.S. are advocating for a shift in the way employers view hiring practices. Ted Decker of Home Depot and John Furner of Walmart U.S. are urging employers to prioritize skills over college degrees when considering job candidates.
The CEOs argue that a skills-based approach to employment is crucial in a country where the majority of adults do not hold a college degree. With student loan debt reaching nearly $1.8 trillion, Decker and Furner reject the notion that achieving the American dream necessitates obtaining a college degree. They emphasize that skilled trades such as plumbing, carpentry, and electrical work can provide reliable paths to success, despite the prevailing belief that a bachelor's degree from a 4-year college is essential.
As leaders of two of the largest private-sector employers in the U.S., with a combined 2 million jobs, Decker and Furner highlight that a significant number of their store leaders started as hourly employees and do not hold college degrees. These store leaders, who often manage hundreds of employees and earn six-figure salaries, exemplify the opportunities available through skill-based hiring and training programs.
In their op-ed, the CEOs call on other employers to embrace a system that allows workers to easily transfer skills between companies and industries. They stress the importance of providing employees with opportunities to learn new skills and achieve their career aspirations.
To further promote their message, Decker and Furner are hosting a workforce summit in Washington, D.C., where they will engage with business leaders, government officials, and workforce experts to discuss the value of different skills in various careers and how to assess and teach skills on the job. Overall, the CEOs are advocating for a more inclusive and skill-focused approach to hiring and workforce development in order to create sustainable career paths for workers.