{"id":13502,"date":"2023-09-13T04:00:44","date_gmt":"2023-09-13T04:00:44","guid":{"rendered":"https:\/\/mysourcefunding.com\/leadership\/why-a-growing-number-of-business-leaders-believe-in-learning-by-working\/"},"modified":"2023-09-13T04:00:45","modified_gmt":"2023-09-13T04:00:45","slug":"why-a-growing-number-of-business-leaders-believe-in-learning-by-working","status":"publish","type":"post","link":"https:\/\/mysourcefunding.com\/?p=13502","title":{"rendered":"Why A Growing Number Of Business Leaders Believe In Learning By Working"},"content":{"rendered":"
\n

The time has passed when a college degree would guarantee a lifetime of employment. For jobs of the future, both employers and job seekers need to focus on teaching and learning on the job.<\/em><\/p>\n

If you want a good job, you need to have a college degree. At least, that\u2019s the story we have been hearing for decades now. In many ways, having that degree on your resume has served as a proxy of innate talent and potential. It may also have something to do with minimizing risk: if someone has a college degree, the thinking is that they\u2019ll make a better employee than someone who didn\u2019t pursue traditional higher education.<\/p>\n

But we are seeing a shift in this mindset, especially as many employers continue to struggle to find enough employees to help them grow their businesses. In fact, some employers have begun to question whether a college degree even matters when it comes to hiring. According to a recent survey conducted by Multiverse, some 67% of the 1,200 business leaders who responded don\u2019t think today\u2019s higher education system gives graduates the skills they need on the job.<\/p>\n

That same survey also revealed that <\/strong>one-third of business leaders (32%) said they expect degrees to matter less for entry-level candidates in the next five to 10 years, with almost half (45%) of those leaders stating this shift will happen to help increase the size of the talent pool and help recruit candidates from a wider range of diverse backgrounds.<\/p>\n

<\/fbs-ad><\/p>\n

\u201cWhile college and an emphasis on degrees will persist,\u201d says Asha Aravindakshan, the U.S. general manager of Multiverse, \u201cit\u2019s incredibly important to open new, viable pathways for individuals from all backgrounds to access sustaining careers.\u201d<\/p>\n

I connected with Aravindakshan over email to ask more about her firm\u2019s survey findings and why more and more companies are turning to on-the-job training to build a sustainable workforce.<\/p>\n

Why it\u2019s time to rethink degree requirements<\/strong><\/h2>\n

Even though almost half of the companies that participated in the Multiverse survey reported that they still require college degrees when recruiting entry-level employees, the tide is clearly shifting. There is even a movement called \u201cTear the Paper Ceiling\u201d that has emerged to help open new opportunities for job seekers who don\u2019t have degrees.<\/p>\n

\u201cThe persistent degree screen demonstrates that we still have work to do before degrees aren\u2019t a prerequisite for most roles,\u201d says Aravindakshan. \u201cIt also underscores the importance that alternatives to college, such as apprenticeships, are becoming more accessible to reach qualified talent.\u201d<\/p>\n

Another fascinating result from the survey was that most business leaders reported learning more themselves during their first two years of work than they did during their higher education experience.<\/p>\n

\u201cNot only do these leaders believe their learning was more useful on the job,\u201d says Aravindakshan, \u201cbut many say entry-level employees are not <\/em>work-ready on day one. We found that those executives believe new graduate hires needed an average of 11 months of on-the-job training before becoming fully effective in their roles.\u201d To that point, some 47% of the leaders surveyed by Multiverse say they plan to increase the amount of in-house training given to entry-level employees.<\/p>\n

But this helps highlight that there\u2019s a bit of dissonance between employers continuing to screen for educational degrees and graduates\u2019 need to be taught the skills necessary on the job.<\/p>\n

\u201cThe onus is on business leaders to change the system by shunning their reliance on degree requirements and instead celebrating alternative career pathways as a route to a more representative and prepared workforce,\u201d says Aravindakshan.<\/p>\n

Training for the jobs of tomorrow<\/strong><\/h2>\n

What worked for university and labor systems twenty years ago, Aravindakshan says, is no longer relevant in today\u2019s society.<\/p>\n

\u201cToday, tech is enabling the way\u2014and evolving at a rapid pace\u2014making much of what digitally native students learn in the classroom outdated by the time they graduate,\u201d she says. \u201cMoreover, the idea that a bachelor\u2019s degree is enough education for an entire career has long since passed, as IBM found that the half-life for some of the skills you learn in college is only about 2.5 years\u2014meaning lifelong learning must be the way of the future.\u201d<\/p>\n

In Aravindakshan\u2019s view, the higher education system needs to focus less on theory and more on applied learning\u2014where students can take what they\u2019ve learned and apply it in a business environment\u2014if it wants to remain relevant.<\/p>\n

\u201cThe future of learning is working, and businesses will need to prioritize hiring talented individuals who are actually trained for the jobs of tomorrow,\u201d says Aravindakshan.<\/p>\n

Upskilling vs. reskilling<\/strong><\/h2>\n

Upskilling and reskilling practices have emerged as alternatives for those employers who can\u2019t afford to wait for changes in the higher education system to help them address their labor shortages.<\/p>\n

\u201cThough similar in name\u2014and often used interchangeably\u2014upskilling and reskilling are distinctly different from one another and can be used to bolster the workforce in separate ways,\u201d says Aravindakshan.<\/p>\n

By Aravindakshan\u2019s definition, upskilling practices are used to teach an individual advanced skills to become more effective in their current role or department. Helping employees upskill ensures they can continue to succeed in their current organization or role as the technological landscape around them evolves. Reskilling, on the other hand, helps employees learn skills that allow them to move into a new role that is not directly linked to their current position.<\/p>\n

Aravindakshan also points out that companies can begin developing talent pipelines among diverse populations who historically don\u2019t pursue higher education degrees by creating internship and apprenticeship programs to help ensure young people are getting the hands-on experience they need to round out their skill sets.<\/p>\n

\u201cApprenticeships open doors to these opportunities at a larger scale and provide apprentices with the training and support they need to succeed in the job and set them up for the careers of the future,\u201d she says.<\/p>\n

Going beyond the hard skills<\/strong><\/h2>\n

What\u2019s interesting is that the skills that business leaders value most\u2014 like critical thinking, creativity, collaboration, and character traits such as growth mindset and leadership\u2014are in short supply even among college graduates.<\/p>\n

These skills, which have begun to earn the label of \u201cdurable\u201d or \u201ctransferable\u201d skills (what I also like to call \u201cprofessional\u201d skills), are harder to teach but they\u2019re also not easily displaced by technology and are universal across workplaces, industries and roles.<\/p>\n

\u201cWhile transferable skills can be acquired from personal experiences throughout an individual\u2019s life, they can also be taught in on-the-job learning settings,\u201d says Aravindakshan. \u201cBy providing ways for talented individuals to experience, learn from, and adapt to various workplace settings, employers are able to help teach these skills.\u201d<\/p>\n

Opening up opportunities<\/strong><\/h2>\n

As I have said time and time again, I remain a big proponent of pursuing higher education. But what conversations with people like Aravindakshan shed light on is that college for all isn\u2019t the answer. It\u2019s just one option to consider. What employers must recognize is that just because someone chooses not to go to college, that shouldn\u2019t exclude them from becoming a viable candidate to hire\u2014especially when they\u2019re willing to learn on the job.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The time has passed when a college degree would guarantee a lifetime of employment. For jobs of the future, both employers and job seekers need to focus on teaching and learning on the job. If you want a good job, you need to have a college degree. At least, that\u2019s the story we have been […]<\/p>\n","protected":false},"author":1,"featured_media":13503,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[76],"tags":[],"class_list":{"0":"post-13502","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-leadership"},"yoast_head":"\nWhy A Growing Number Of Business Leaders Believe In Learning By Working | Brandiary<\/title>\n<meta name=\"description\" content=\"The time has passed when a college degree would guarantee a lifetime of employment. For jobs of the future, both employers and job seekers need to focus\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mysourcefunding.com\/?p=13502\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why A Growing Number Of Business Leaders Believe In Learning By Working | Brandiary\" \/>\n<meta property=\"og:description\" content=\"The time has passed when a college degree would guarantee a lifetime of employment. For jobs of the future, both employers and job seekers need to focus\" \/>\n<meta property=\"og:url\" content=\"https:\/\/mysourcefunding.com\/?p=13502\" \/>\n<meta property=\"og:site_name\" content=\"Brandiary\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-13T04:00:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-13T04:00:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/09\/1694577645_0x0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"797\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/mysourcefunding.com\/?p=13502#article\",\"isPartOf\":{\"@id\":\"https:\/\/mysourcefunding.com\/?p=13502\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4\"},\"headline\":\"Why A Growing Number Of Business Leaders Believe In Learning By Working\",\"datePublished\":\"2023-09-13T04:00:44+00:00\",\"dateModified\":\"2023-09-13T04:00:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/mysourcefunding.com\/?p=13502\"},\"wordCount\":1215,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/mysourcefunding.com\/#organization\"},\"articleSection\":[\"Leadership\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/mysourcefunding.com\/?p=13502#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/mysourcefunding.com\/?p=13502\",\"url\":\"https:\/\/mysourcefunding.com\/?p=13502\",\"name\":\"Why A Growing Number Of Business Leaders Believe In Learning By Working | Brandiary\",\"isPartOf\":{\"@id\":\"https:\/\/mysourcefunding.com\/#website\"},\"datePublished\":\"2023-09-13T04:00:44+00:00\",\"dateModified\":\"2023-09-13T04:00:45+00:00\",\"description\":\"The time has passed when a college degree would guarantee a lifetime of employment. For jobs of the future, both employers and job seekers need to focus\",\"breadcrumb\":{\"@id\":\"https:\/\/mysourcefunding.com\/?p=13502#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/mysourcefunding.com\/?p=13502\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/mysourcefunding.com\/?p=13502#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/mysourcefunding.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why A Growing Number Of Business Leaders Believe In Learning By Working\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/mysourcefunding.com\/#website\",\"url\":\"https:\/\/mysourcefunding.com\/\",\"name\":\"Brandiary\",\"description\":\"Latest Business and Startup News and Updates\",\"publisher\":{\"@id\":\"https:\/\/mysourcefunding.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/mysourcefunding.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/mysourcefunding.com\/#organization\",\"name\":\"Brandiary\",\"url\":\"https:\/\/mysourcefunding.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png\",\"contentUrl\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png\",\"width\":381,\"height\":100,\"caption\":\"Brandiary\"},\"image\":{\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/mysourcefunding.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png\",\"contentUrl\":\"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/mysourcefunding.com\"],\"url\":\"https:\/\/mysourcefunding.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why A Growing Number Of Business Leaders Believe In Learning By Working | Brandiary","description":"The time has passed when a college degree would guarantee a lifetime of employment. For jobs of the future, both employers and job seekers need to focus","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/mysourcefunding.com\/?p=13502","og_locale":"en_US","og_type":"article","og_title":"Why A Growing Number Of Business Leaders Believe In Learning By Working | Brandiary","og_description":"The time has passed when a college degree would guarantee a lifetime of employment. For jobs of the future, both employers and job seekers need to focus","og_url":"https:\/\/mysourcefunding.com\/?p=13502","og_site_name":"Brandiary","article_published_time":"2023-09-13T04:00:44+00:00","article_modified_time":"2023-09-13T04:00:45+00:00","og_image":[{"width":1200,"height":797,"url":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/09\/1694577645_0x0.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/mysourcefunding.com\/?p=13502#article","isPartOf":{"@id":"https:\/\/mysourcefunding.com\/?p=13502"},"author":{"name":"News Room","@id":"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4"},"headline":"Why A Growing Number Of Business Leaders Believe In Learning By Working","datePublished":"2023-09-13T04:00:44+00:00","dateModified":"2023-09-13T04:00:45+00:00","mainEntityOfPage":{"@id":"https:\/\/mysourcefunding.com\/?p=13502"},"wordCount":1215,"commentCount":0,"publisher":{"@id":"https:\/\/mysourcefunding.com\/#organization"},"articleSection":["Leadership"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/mysourcefunding.com\/?p=13502#respond"]}]},{"@type":"WebPage","@id":"https:\/\/mysourcefunding.com\/?p=13502","url":"https:\/\/mysourcefunding.com\/?p=13502","name":"Why A Growing Number Of Business Leaders Believe In Learning By Working | Brandiary","isPartOf":{"@id":"https:\/\/mysourcefunding.com\/#website"},"datePublished":"2023-09-13T04:00:44+00:00","dateModified":"2023-09-13T04:00:45+00:00","description":"The time has passed when a college degree would guarantee a lifetime of employment. For jobs of the future, both employers and job seekers need to focus","breadcrumb":{"@id":"https:\/\/mysourcefunding.com\/?p=13502#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/mysourcefunding.com\/?p=13502"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/mysourcefunding.com\/?p=13502#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/mysourcefunding.com\/"},{"@type":"ListItem","position":2,"name":"Why A Growing Number Of Business Leaders Believe In Learning By Working"}]},{"@type":"WebSite","@id":"https:\/\/mysourcefunding.com\/#website","url":"https:\/\/mysourcefunding.com\/","name":"Brandiary","description":"Latest Business and Startup News and Updates","publisher":{"@id":"https:\/\/mysourcefunding.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/mysourcefunding.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/mysourcefunding.com\/#organization","name":"Brandiary","url":"https:\/\/mysourcefunding.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/","url":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png","contentUrl":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/b-logo-1.png","width":381,"height":100,"caption":"Brandiary"},"image":{"@id":"https:\/\/mysourcefunding.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/mysourcefunding.com\/#\/schema\/person\/5062dafb0f932b59aa228f1a047332f4","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/mysourcefunding.com\/#\/schema\/person\/image\/","url":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png","contentUrl":"https:\/\/mysourcefunding.com\/wp-content\/uploads\/2023\/06\/avatar_user_1_1688031660-96x96.png","caption":"News Room"},"sameAs":["https:\/\/mysourcefunding.com"],"url":"https:\/\/mysourcefunding.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts\/13502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13502"}],"version-history":[{"count":1,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts\/13502\/revisions"}],"predecessor-version":[{"id":13504,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/posts\/13502\/revisions\/13504"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=\/wp\/v2\/media\/13503"}],"wp:attachment":[{"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mysourcefunding.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}