Rethinking Employee Degree Requirements?

[Fit Small Business | ]( HR Insights from Our Experts In the last few years, companies in all industries have changed their hiring habits by opening the door to higher-wage jobs with career paths to people without four-year college degrees to diversify their teams. The alternative to degree requirements and strict rules regarding experience is widely referred to as skills-based hiring—and it can attract workers from a wider variety of backgrounds, experiences, and skill sets. Let’s talk about changing degree requirements and what it can mean for small business owners. Top Articles: - [Employee Retention: 14 Strategies to Keep Your Top Talent]( - [Skills-Based Hiring: What It Is & Small Business Benefits]( - [12 Types of Employee Training to Enhance Workforce Skills](                 Balancing Skills and Degrees to Boost Employee Retention   Rethinking degree requirements can play a pivotal role in improving employee retention within organizations. Where skills and competencies often outweigh formal degrees, a more flexible approach to hiring can lead to a more loyal and satisfied workforce. When employers prioritize skills and abilities over degrees, they are more likely to attract employees who are a better fit for the job, resulting in higher job satisfaction and, ultimately, better employee retention rates. Moreover, it can also enhance diversity and inclusion within the workplace, fostering a more inclusive and equitable environment. By recognizing that talent comes from a variety of backgrounds and educational paths, organizations can attract a more diverse pool of employees. When employees see that their skills and experiences are valued on equal footing with traditional degrees, they are more likely to feel appreciated and are likely to stay with the company, leading to improved retention rates. Read more: [Employee Retention: 14 Strategies to Keep Your Top Talent](         With payroll, benefits administration, employee experience management and much more, Paylocity is a comprehensive HRIS designed for the entire employee lifecycle. [Do More with Your HR and Payroll](         Hire For Skills; Not Just Education   Most companies put a huge emphasis on degree requirements, with a large number requiring a bachelor’s degree in a related field. But, a degree doesn’t always mean the candidate is skilled in that field. It only means they are educated. Instead, focus your attention on skills requirements to ensure you hire a candidate who can actually handle the job. Skills-based hiring is best suited for entry-level to mid-level positions. Executive-level positions should require a combination of experience and education. But, when hiring for an entry-level position, a degree is not always necessary. If the candidate possesses the skills and experience to handle the job, hiring this person, regardless of their educational background could mean a faster hiring process, reduced hiring costs, and increased employee retention. Read more: [Skills-Based Hiring: What It Is & Small Business Benefits](     Rethinking Degree Requirements: What It Means for HR and DEI   Rethinking degree requirements can have significant implications for HR (Human Resources) and DEI (Diversity, Equity, and Inclusion) initiatives within an organization. Here's how it can impact both areas: Human Resources (HR): Rethinking degrees offers HR flexibility in recruitment, accessing a broader talent pool, and potentially saving costs. HR can then consider providing employee training and development, especially for those without degrees, to help foster a more diverse and skilled workforce. Shifting the focus from degrees to skills can also help HR adapt swiftly to the evolving job market demands since traditional degrees may not always align with the latest skills and knowledge. Collaborating with hiring managers to define crucial competencies and establishing fair evaluation criteria is essential. Diversity and Inclusion (DEI): Rethinking degree requirements reduces barriers faced by underrepresented groups, as it values skills and experience over formal education. This promotes inclusivity by broadening the candidate pool and aligns with DEI principles by focusing on abilities, not degrees. It enhances an organization's reputation for diversity and attracts a wider range of candidates. Read more: [12 Types of Employee Training to Enhance Workforce Skills](     What’s new in HR? Check out some of our latest HR content:   [What is an Applicant Tracking System?]( An applicant tracking system (ATS) is a software application that helps organizations identify, select, and track job candidates throughout the hiring process. This guide breaks down everything they can offer from online job postings to candidate screening, and interview scheduling. [READ MORE]( [W-9 vs 1099: Comparing IRS Contractor Tax Forms]( The difference between IRS Forms W-9 vs 1099 is that the former is given to contractors for the purpose of collecting personal information, while the latter is for reporting wages to the IRS. Our guide breaks down the differences between the two forms and everything you need to know. [READ MORE](         Meet Fit Small Business’ HR & Payroll Experts   [-Jennifer Hartman, HR Staff Writer & Human Resources Expert]( [-Jennifer Hartman, HR Staff Writer & Human Resources Expert]( [-Jennifer Hartman, HR Staff Writer & Human Resources Expert]( [Heather Landau]( [Jennifer Soper]( [Robie Ann Ferrer](   [-Jennifer Hartman, HR Staff Writer & Human Resources Expert]( Want to Join Our HR Community? Check us out on LinkedIn! [-Jennifer Hartman, HR Staff Writer & Human Resources Expert]( [Juvy Vallescas]( [Genevieve Que](   Interested in learning more about payroll records. Tune in to next week's newsletter where we’ll cover what to keep, what to toss, and what to know! Until next time, Heather Landau, Jennifer Soper, Robie Ann Ferrer, Juvy Vallescas, and Genevieve Que [Alternate text] Want to change what you receive in your inbox? 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