The tech industry has traditionally relied on hiring new talent from colleges and universities, severely limiting its pool for recruiting, as college isn’t accessible to everyone and there are plenty of qualified candidates who may be well past their college graduate years. By hiring with such a narrow focus, organizations miss out on plenty of talented and qualified individuals who do not fit into the current hiring parameters set by leadership.
A recent research report from Harvard Business School, Accenture, and Grads of Life titled “Dismissed by Degrees” found that, while employers typically pay more for college graduates to fill jobs that are also filled by non-degree holders, there is no “material improvement in productivity” in doing so. Employers will often pay anywhere from 11% to 30% more for candidates with a college degree, yet employers also report that “non-graduates with experience perform nearly or equally well on critical dimensions like time to reach full productivity, time to promotion, level of productivity, or amount of oversight required,” according to the research.
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