Big employers seem to be paying less regard to the university degrees which has led students to question if the qualifications they strive for mean anything anymore.
Following a similar move by Ernst and Young and PricewaterhouseCoopers, Penguin Random House announced that the international publishing house would give up university degrees as a prerequisite for job applicants.
This methodology originates from smaller employers that feel that fresh graduates either come with no real skills, or their studies are just insufficient to familiarize them with practical skills they need.
While this relieves many dejected students, it might spell trouble for education providers.
Penguin explained this idea quite clearly: “While graduates remain welcome to apply for jobs, not having been through higher education will no longer preclude anyone from joining. Simply if you’re talented, and you have potential, we want to hear from you.”
Interestingly, reports suggest that graduate employment is at its worst since the recession in 1992.
No wonder the liking for tertiary education has continued to decline in Australia for the past ten years.
According to 2015 Graduate Careers Australia, one-fourth of bachelor degree holders could not manage to find employment within four months of course completion.
At the same time, salaries that university graduates are paid have also continued to decrease.
Maggie Stilwell from Ernst and Young was responsible for introducing the move of doing away with educational degrees as a necessary requirement for job applicants.
She mentioned that the new strategy of recruitment is to open doors for talented individuals in regards to soft skills such as being adaptable, personable and strong digital skills.
She went on to say, “A number of our members consistently tell us they’re seeing students come out of university or training programs and they might have the academic or theoretical skills, but no skills to work at all. It makes them really hard to employ.”