A recent study conducted by Harvard Business School and the Burning Glass Institute found that several large companies, including Bank of America, Amazon, and Lockheed Martin, have not kept their promises to hire more non-college grads despite removing degree requirements from job listings.
The study looked at over 11,000 roles at companies that had previously shifted towards skills-based hiring after 2014. While some companies, such as Walmart, Apple, and Target, made progress in skills-based hiring, others, like Bank of America, Amazon, and Lockheed Martin, removed college requirements from job postings but continued to hire college graduates.
Additionally, a third category of companies, including Nike, Uber, and Delta, initially made progress in skills-based hiring but then reverted back to their old patterns. Overall, the study found that only a small fraction of hires last year were non-college grads, despite the increased opportunity promised by skills-based hiring.
Some companies, such as Bank of America and Lockheed Martin, defended their hiring practices, citing initiatives to support non-college grads and create apprenticeship opportunities. However, the study emphasized the benefits of hiring candidates without college degrees, including higher retention rates and increased salaries for non-grads.
With 62% of Americans lacking a college degree, the study concluded that companies are missing out on a win-win opportunity by not embracing skills-based hiring. While some companies have made progress in this area, the overall trend suggests that more needs to be done to truly shift towards hiring non-college grads and reaping the benefits that come with it.
In conclusion, the study highlights the discrepancy between companies' promises to hire more non-college grads and their actual hiring practices, urging firms to prioritize skills-based hiring for the benefit of both employees and the companies themselves.