Skills have always been the currency of work, but the way companies source skilled workers is on the brink of a major shift. According to data from LinkedIn, 40% of hirers on LinkedIn used skills to fill open roles—up 20% year-over-year. These employers are 60% more likely to find a successful hire compared to those not relying on skills as part of the hiring process.
Skills-first hiring is more than a trend. It’s a new philosophy about what it really takes to be successful at work. “Until recently, talent professionals relied on degrees and past experiences as proxies to assess if a candidate has the skills to do a job,” says Rohan Rajiv, Group Product Manager at LinkedIn Talent Solutions.
The problem with that approach, he says, is that access to higher education and well-paying jobs isn’t always equal—leaving a lot of people behind.
Rajiv believes that when companies take a skills-first approach to hiring, they not only increase their efficiency, but they give a broader swath of people opportunities to grow their careers. “The result is a significantly more efficient and equitable approach to finding and retaining talent.”
What about the college degree?
A college degree used to operate as a guaranteed ticket to a great career. Skills-based hiring doesn’t negate the college degree, but it does recognize that skills are skills, no matter how or where they are acquired. “I don’t think degrees away, but they won’t be the end all and be-all, nor will those without one be discounted,” says Rajiv.
Skills-first hiring works within the reality that not everyone has the means or time to pursue a higher education. “Online learning can be great to fill smaller skills gaps, especially at work, like the skills you need to lead a growing team, or learning more about HTML to get a project over the finish line,” says Rajiv. “Filling these smaller skills gaps can be what gets you that promotion.”
Alongside college, there are several pathways workers can consider to gain the in-demand skills that can unlock a well-paid position.
- On-the-job training. Not surprisingly, this is the most valuable way to develop and apply skills. “I’d everyone—especially those early in their careers—to find skilled coaches, whether it’s a teammate or manager, to help guide their path and be more successful,” says Rajiv. Not only will you enhance your skills, but you’ll get paid while doing it.
- Certificate programs. More and more people are taking the certification route to gain and demonstrate specific skill sets. In fact, comparing January 2021 to January 2020, LinkedIn Learning saw a year-over-year 1,340% increase in CE certificate downloads. “Our members might want to simply start out by exploring programs around things that interest them or in areas where they see talent in themselves,” Rajiv says.
- Online courses. For those with smaller skills gaps, online learning like LinkedIn Learning can be a great entry into professional development. It offers courses on a vast array of topics and industries, as well as opportunities to learn in real-time with live events. “If you believe you’re a great fit for a role, but want to show the hiring manager you’re investing in additional skills that will make you an even better fit, it’s a great pathway to do that!” Rajiv says.
As quickly as the world is changing, it’s not surprising that the skills required at work are also morphing rapidly. “Jobs are changing on you, even if you’re not changing jobs,” says Rajiv. Recent LinkedIn data shows that job skills sets have changed by around 25% since 2015. By 2027, this number is expected to double.