Two candidates are in front of you for an entry-level position, one has four years of strong, solid experience working up to your vacancy, and the other has a four-year degree studying the basics of the vacancy. Who do you hire? So often we put in the job description, Must Have College Degree but in the end, don’t we just want someone well qualified to fill our position?
Shocking statistics are out that American’s owe over $1.4 trillion in student loan debt! The poor (literally) graduates of 2016 owe approximately $37,172 in student loans not including credit card debt they have incurred and finding job is tough for them right now. While it’s true, there is a strong chance that without a degree one will often make less than their counterparts, however, at the very least, wouldn’t they be $37,000 more in the black?
Companies today are trying to find the sweet spot in attracting top millennial talent; clearly, tuition reimbursement seems to be a popular perk. However, tweaking the scope of our search for top talent may open up a pool of candidates that has been under utilized and squeezed out with the phrase, Must Have College Degree.
This topic is a highly gray area for many business owners. 50% will fall into the traditional thinking and say that a college degree shows tenacity, drive, motivation and preparedness to take the next step into the workforce. However, the other 50% will say today a college degree is equivalent to a high school diploma. Everyone has one and many times your degree is simply a piece of expensive paper and the field you studied is not your career.
The question cannot be answered today, however, it’s chance to consider the opportunities that may open up for your company if you remove the phrase Must Have College Degree.