Skills-Based Hiring

There is an ongoing notable shift toward skills-based hiring in both the public and private sectors. Dubbed "tearing the paper ceiling," the turn toward discrete skills and away from university-based degrees is increasingly seen as a better way to attract potential talent in a tight labor market. In 2022,Maryland led the wayin no longer requiring four-year degrees for many state jobs. By mid-2023,12 other stateshad taken similar actions. The World Economic Forum, in its2023 report, highlighted the challenges faced by the workforce in this context. The report revealed that 60% of companies are worried about their current employees lacking essential skills. Furthermore, over half of these companies are concerned about their ability to attract new workers who can bridge these critical skill gaps.