Opening Insights: Degrees as Debts, Not Assets
What was once a privileged and a compounding asset is today a compounding debt, with little to no intrinsic value as evidence by the state of our economy and the trends within hiring today. What are we talking about? UNIVERSITY DEGREES!
In an article by Huffington Post, Lucy Sherriff, highlights the reality that university degrees are no longer seen as valuable by businesses.
Informational Insights: Graduates Still Lacking...
Ernst & Young, one of the UK’s biggest graduate recruiters, has announced it will be removing the degree classification from its entry criteria, saying there is “no evidence” success at university correlates with achievement in later life.
In an unprecendented move, the accountancy firm is scrapping its policy of requiring a 2:1 and the equivalent of three B grades at A-level in order to open opportunities for talented individuals “regardless of their background”.
Maggie Stilwell, EY’s managing partner for talent, said the company would use online assessments to judge the potential of applicants.
“Academic qualifications will still be taken into account and indeed remain an important consideration when assessing candidates as a whole, but will no longer act as a barrier to getting a foot in the door,” she said.
“Our own internal research of over 400 graduates found that screening students based on academic performance alone was too blunt an approach to recruitment.
“It found no evidence to conclude that previous success in higher education correlated with future success in subsequent professional qualifications undertaken.”
The company offers 200 graduate-level jobs each year, making it the fifth largest recruiter of graduates in the UK. The changes will come into force in 2016.
Earlier this year, PricewaterhouseCoopers (PwC) scrapped using UCAS points as entry criteria for its graduate scheme. The audit firm believes placing too much emphasis on the scores will mean employers may miss out on key talent from disadvantaged backgrounds, who can perform less well at school.
A report published last week revealed wealthy kids are 35% more likely to become high earners than clever, disadvantaged young people, even if they are not academically gifted.
Source: //www.huffingtonpost.co.uk/2016/01/07/ernst-and-young-removes-degree-classification-entry-criteria_n_7932590.html
Possibilities for Consideration: Making Education Worthwhile
Businesses and economies around the world clearly have a talent shortage and a hiring problem. The universities are not producing the caliber of candidates that are required to drive the future of business and innovation.
- What if there is a way to transform our cultures, businesses, economies and communities?
- What if there is a way to train school leavers and university students with the tools and skills they need to survive and thrive within business today?
- What if there is a way to empower young generations with the skills to become not just leaders but followers?
Add Your Insight
Education is the most powerful weapon which you can use to change the world.
NELSON MANDELA