We often hear employers and business leaders lament the unfortunate gap between what students learn in college and what they are actually expected to know in order to be job-ready. Are the college graduates you hire job-ready? Featuring Tomas Chamorro-Premuzic , Chief Talent Scientist at Manpower Group, co-founder of Deeper Signals and Metaprofiling, and Professor of Business Psychology at University College London and Columbia University. In fact, the research shows that intelligence scores are a much better indicator of job potential. Does Higher Education Still Prepare People for Jobs? HBR. Copyright © 2020 Harvard Business School Publishing. In fact, the research shows that intelligence scores are a much better indicator of job potential. May 10, 2020 - Many degrees don’t teach students the skills they’ll need in the future. In short, we believe that market demands clearly call for a paradigm change. Even if the value attached to a university degree is beneficial to those who obtain it, companies can help change the narrative by putting less weight on “higher education” as a measure of intellectual competence and job potential, and instead, approach hiring with more open-mindedness. This is likely a result of the growing focus on employee training — one report shows U.S. companies spent over $90 billion on it in 2017. This is particularly alarming in light of the large — and still growing — number of people graduating from university: above 40% of 25 to 34-year-olds in OECD countries, and nearly 50% of 25 to 34-year-olds in America. • Tomas Chamorro-Premuzic, Becky Frankiewicz , January 07, 2019 , Harvard Business review. When employers attach value to university qualifications, it’s often because they see them as a reliable indicator of a candidate’s intellectual competence. Does Higher Education Still Prepare People for Jobs? (And How to Fix It). This is perhaps one of the biggest differences between what universities and employers look for in applicants. Harvard Business Publishing is an affiliate of Harvard Business School. College degrees are also confounded with social class and play a part in reducing social mobility and augmenting inequality. At the same time, as university qualifications become more commonplace, recruiters and employers will increasingly demand them, regardless of whether they are actually required for a specific job. Tomas Chamorro-Premuzic is the Chief Talent Scientist at ManpowerGroup, a professor of business psychology at University College London and at Columbia University, and an associate at Harvard’s Entrepreneurial Finance Lab. In a recent ManpowerGroup survey of 2,000 employers, over 50% of organizations listed problem-solving, collaboration, customer service, and communication as the most valued skills. Want fulfilling work? There are several data-driven arguments that question the actual, rather than the perceived, value of a college degree. This is why a college degree will boost earnings by over 20% in sub-saharan Africa (where degrees are relatively rare), but only 9% in Scandinavia (where 40% of adults have degrees). Often, the strongest individual contributors are promoted into management, even though they haven’t developed the skills needed to lead a team. Although there is a clear premium on education — recent reports from The Economist suggest that the ROI of a college degree has never been higher for young people — the value added from a college degree decreases as the number of graduates increases. If that is their focus, why not just use psychological assessments instead, which are much more predictive of future job performance, and less confounded with socioeconomic status and demographic variables? Having said that, universities could substantially increase the value of the college degree if they spent more time teaching their students critical soft skills. ... premium on education — recent reports from The Economist suggest that the ROI of a college degree has never been higher for young people — the value added from a college degree decreases as the number of graduates increases. In this Harvard Business Review webinar, Chamorro-Premuzic examines the shortcomings of the traditional higher education system in preparing graduates for today’s jobs. Featuring Tomas Chamorro-Premuzic, Chief Talent Scientist at Manpower Group, co-founder of Deeper Signals and Metaprofiling, and Professor of Business Psychology at University College London and Columbia University. In his HBR article “Does Higher Education Still Prepare People for Jobs?” Tomas Chamorro-Premuzic argued that changing demands by employers requires a paradigm change in higher education. We often hear employers and business leaders lament the unfortunate gap between what students learn in college and what they are actually expected to know in order to be job-ready. We often hear employers and business leaders lament the unfortunate gap between what students learn in college and what they are actually expected to know in order to be job-ready. Featuring Tomas Chamorro-Premuzic, Chief Talent Scientist at Manpower Group, co-founder of Deeper Signals and Metaprofiling, and Professor of Business Psychology at University College London and Columbia University. This is So, while tertiary degrees may still lead to higher-paying jobs, the same employers handing out these jobs are hurting themselves — and young people — by limiting their candidate pool to college graduates. All rights reserved. Does Higher Education Still Prepare People for Jobs? Posted on September 26, 2019 by The curious counsellor In Articles on College 1 Minute Read. Before joining ManpowerGroup, she led one of PepsiCo’s largest subsidiaries, Quaker Foods North America, and was named by Fast Company as one of the most creative people in the industry. I am a runner, wife, counsellor, dog lover and adventurer. Jobs; Contact; News. Even if the value attached to a university degree is beneficial to those who obtain it, companies can help change the narrative by putting less weight on “higher education” as a measure of intellectual competence and job potential, and instead, approach hiring with more open-mindedness. January 9, 2019 / No Comments. Academic grades are indicative of how much a candidate has studied, but their performance on an intelligence test reflects their actual ability to learn, reason, and think logically. He offers ideas for higher education, employers, and students to better prepare graduates to enter the workforce. Does higher education still prepare young people for jobs? Does Higher Education Still Prepare People for Jobs? Recruiters and employers are unlikely to be impressed by candidates unless they can demonstrate a certain degree of people-skills. In his HBR article “Does Higher Education Still Prepare People for Jobs?” Tomas Chamorro-Premuzic argued that changing demands by employers requires a paradigm change in higher education. Find your passion. While employers want candidates with higher levels of EQ, resilience, empathy, and integrity, those are rarely attributes that universities nurture or select for in admissions. Harvard Business Publishing is an affiliate of Harvard Business School. Find her on Twitter: @beckyfrankly. On October 22, in an interactive Harvard Business Review webinar, Chamorro-Premuzic will examine the shortcomings of the traditional higher education system in preparing graduates for today’s jobs. All rights reserved. There is also a huge opportunity for colleges to restore their relevance by helping to fill the learning gap many managers face when they are promoted into a leadership role. Published by The curious counsellor. But if more schools invested in teaching those skills, organizations would have a larger amount of candidates with leadership potential. In many societies, there is a strong degree of assortative mating based on income and class. He will offer ideas for higher education, employers, and students to better prepare graduates to enter the workforce. Most employers say there is a gap between what students learn in college and what they need to know on the job. In an age of ubiquitous disruption and unpredictable job evolution, it is hard to argue that the knowledge acquisition historically associated with a university degree is still relevant. (Published in Harvard Business Review 14 January 2019), Manavale | 454 Collins Street | Melbourne | 3000 | 03 9108 4234, resilience, organisational development, high performing teams, leadership, health & wellbeing, Leadership, High Performing Teams, above 40% of 25 to 34-year-olds in OECD countries, and nearly 50% of 25 to 34-year-olds in America, the strongest individual contributors are promoted into management. In the U.S., affluent people are more likely to marry other affluent people, and families with more money can afford to pay for schools, tutors, extracurriculars, and other privileges that increase their child’s likelihood of accessing an elite college education. Does Higher Education Still Prepare People for Jobs? Find him on Twitter: @drtcp or at www.drtomas.com. Are the college graduates you hire job-ready? If we were to pick between a candidate with a college degree and a candidate with a higher intelligence score, we could expect the latter to outperform the former in most jobs, particularly when those jobs require constant thinking and learning. Hiring people with curiosity is likely to maximize the ROI of these programs. Copyright © 2020 Harvard Business School Publishing. python, analytics, cloud computing). Many universities do select students on meritocratic grounds, but even merit-based selection is conflated with variables that decrease the diversity of admitted applicants. More and more students are spending more and more money on higher education, and their main goal is largely pragmatic: to boost their employability and be a valuable contributor to the economy. Employers consider factors other than a candidate’s college degree, Universities spend more time teaching soft skills, Students develop a sense of curiosity, which is a key indicator of career potential. ... A number of meta-analytic reviews have long established that the correlation between education level and job performance is weak. Most employers say there is a gap between what students learn in college and what they need to know on the job. Likewise, a recent report by Josh Bersin noted that employers today are as likely to select candidates for their adaptability, culture fit, and growth potential as for in-demand technical skills (e.g. As the impact of AI and disruptive technology grows, candidates who can perform tasks that machines cannot are becoming more valuable — and that underscores the growing importance of soft skills, which are hard for machines to emulate. Does Higher Education Still Prepare People for Jobs? This, in turn, affects the entire trajectory of that child’s future, including their future career prospects — providing a clear advantage to some and a clear disadvantage to others. He’s the author of Why Do So Many Incompetent Men Become Leaders? Featuring Tomas Chamorro-Premuzic, Chief Talent Scientist at Manpower Group, co-founder of Deeper Signals and Metaprofiling, and Professor of Business Psychology at University College London and Columbia University. Today, people often take on leadership positions without much formal management training. Becky Frankiewicz is President of ManpowerGroup North America and a labor market expert. If you are interested in closing the gaps so that students are more ready to enter the job market and immediately offer value to employers, join Tomas Chamorro-Premuzic and HBR on October 22. First, meta-analytic reviews have long-established that the correlation between education level and job performance is weak. Harvard Business Publishing | 20 Guest St, Suite 700 | Brighton, MA 02135, Employers consider factors other than a candidate’s college degree, Universities spend more time teaching soft skills, Students develop a sense of curiosity, which is a key indicator of career potential. Additionally, employers like Google, Amazon, and Microsoft, have highlighted the importance of learnability — being curious and having a hungry mind — as a key indicator of career potential.