DECATUR, Ill. (WAND)- More employers are requiring bachelor’s degrees for middle-skilled jobs and are paying a price, according to a newly-released report.
The report, Dismissed by Degrees, was produced by Harvard Business School, Grads of Life and Accenture. It found that, over the past decade, requirements for bachelor’s degrees grew in the U.S. In one example, researchers found that, while 16 percent of production worker supervisors held bachelor’s degrees, 67 percent of job openings for such supervisors required the degree.
The new requirements cost employers, since four-year college graduates cost employers between 11 and 30 percent more and have higher turnover rates than other workers, said Elyse Rosenblum, principal of Grads for Life, in an interview with WAND.
“There’s also a big cost to society in excluding two thirds of the American population from these jobs,” Rosenblum said. “They’re really fishing in a very small pond, and that makes it difficult to get and keep good talent.”
Rosenblum said those requirements can also keep out workers with valuable experience outside college, such as military veterans.