Companies that dropped bachelor's degree requirements have broadened their talent pool and increased the number of job applications

SEATTLE, July 19, 2024 /PRNewswire-PRWeb/ -- Intelligent.com, a platform dedicated to helping young professionals navigate the future of work, has published a recent survey report exploring the trend of companies removing bachelor's degree requirements for certain roles. The report also provides insights into the reasons behind this decision. Intelligent.com experts gathered responses from 750 business leaders in the United States.    

Based on the survey, 33 percent of business leaders report that their company has eliminated the requirement for a bachelor's degree for certain roles, while 63 percent have retained it. Among those that have removed the degree requirement, 59 percent have done so for entry-level positions, 54 percent for mid-level roles, and 18 percent for senior-level roles. However, despite removing the requirement for certain roles, 40 percent indicate that "many" roles still retain this requirement, 43 percent say "some," and 16 percent report "a few."

Companies have chosen to eliminate the degree requirement to prioritize skills over formal education, create a more diverse workforce, and increase the number of job applicants. In fact, 77 percent of business leaders say their company is "very likely" or "likely" to favor work experience over a bachelor's degree. Despite this, 66 percent of respondents "highly value" and 31 percent "somewhat value" whether a candidate has a bachelor's degree.

"Eliminating bachelor's degree requirements from the hiring and recruiting process is becoming increasingly popular across many industries," says Chief Education and Career Development Advisor Huy Nguyen. "The trend shift shows a broader recognition that practical skills, real-world work experiences, and the ability to self-learn can be more important measures of potential success than four years of formal college education in many job functions."

Twenty-nine percent believe the elimination of bachelor's degree requirements was "very successful," while 47 percent consider it "successful." Seventeen percent perceive it as "somewhat successful," while 2 percent deem it "not successful" at all. Companies report that this change has expanded access to talent, increased applications, and created a more diverse workforce. Looking ahead to 2025, 25 percent of respondents say their company plans to eliminate or further eliminate bachelor's degree requirements for certain roles, while 56 percent do not have such plans.

This online poll was commissioned by Intelligent.com and conducted via Pollfish in June 2024. A total of 750 U.S. business leaders participated in the survey. Demographic criteria were applied to ensure qualified respondents, including age 25 and older, household income greater than $50,000, organizational role such as C-level executive, human resources manager, director, president, owner/partner, and senior management, company size of more than 10 employees, and education level of technical college, college, or postgraduate. To view the complete report, please visit: https://www.intelligent.com/1-in-3-companies-eliminated-bachelors-degree-requirements-so-far-this-year/.

ABOUT INTELLIGENT.COM
Intelligent.com stands at the forefront of innovation, empowering young professionals to navigate the rapid technological advancements shaping our world and the future of work. The platform is dedicated to unlocking each individual's unique potential, guiding them toward achieving their career ambitions, and maximizing their financial prospects. To learn more, please visit https://www.intelligent.com/.

Media Contact

Intelligent.com, Intelligent.com, (800) 799-7103, pr@intelligent.com, Intelligent.com

View original content:https://www.prweb.com/releases/intelligentcom-survey-finds-1-in-3-companies-have-eliminated-bachelors-degree-requirements-so-far-this-year-302199058.html

SOURCE Intelligent.com