Over the past decade, many employers have increasingly started to demand that employees hold a four-year degree for jobs that used to not require one. This practice is called "degree inflation", which has been causing problems for American businesses.
A lot of people have been able to do very well without a college degree, including Steve Jobs, Mark Zuckerberg, and Bill Gates. But for tens of millions of working-class Americans, the lack of a college degree is a major barrier to a career.
For those who can’t afford to go to college, it’s hard for them to find good jobs that offer a livable wage and benefits. In fact, a study by the Georgetown Center on Education and the Workforce found that there are more than 70 million people in the United States without a bachelor’s degree who could benefit from higher-paying careers.
The problem is that the pool of college-educated workers is incredibly small, a problem that doesn’t just affect disadvantaged Americans. It also has a negative impact on America’s economy.
In fact, the US currently has a shortage of high-quality, well-paid professionals in all industries. That’s why it’s not surprising that so many companies are now resetting degree requirements for a variety of middle-skill and higher-skill roles.
Getting rid of the requirement will open doors for a much more diverse workforce, which can be a huge benefit to companies in the long run.
While it’s not a decision to be taken lightly, eliminating the college degree requirement can help companies attract a more diverse range of employees.
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