New report finds a growing preference for on-the-job experience over university degrees
On-the-job experience is now seen as a more attractive quality of a job applicant than a university degree, according to a new report, which unveiled a shifting hiring landscape across Australia.
Indeed's latest research revealed that 55% of employers and 67% of employees agree that on-the-job experience is more attractive than university degrees.
In fact, most employers said they will prioritise asking about an applicant's on-the-job experience to help them decide in recruitment - a move that 70% of jobseekers said they agree with.
Sally McKibbin, career expert at Indeed, said their findings highlight a "pivotal shift" in Australia's hiring landscape.
"Employers are increasingly of the view that on-the-job experience has the potential to speak louder than a formal qualification," McKibbin said in a statement.
"Higher education is of course still incredibly valuable and also valued, but Australia's job market is evolving and therefore so too is our approach to hiring."
The move to set education aside in recruitment comes as most employers admit that their biggest hiring challenge is the lack of "quality" applicants.
This "quality" candidate refers to an individual who adds new capabilities and perspective to their team (54%) and responds well to upskilling and training (54%).
To address the challenge of finding these candidates, employers are taking on various initiatives to expand their talent pool, according to the report.
More than three in four (76%) of employers said they have changed or plan to change their learning and development programmes to help new hires acquire necessary skills while on the job.
A third of employers also said they believe a skills-first hiring approach will improve their applicant pool. They also believe that it can:
"A skills-first approach to hiring is a win-win. It fosters a more inclusive and dynamic workforce, and creates opportunities for people who possess immense potential but may not have had access to higher education," McKibbin said.
"By paying greater attention to practical experience and growth potential, businesses can access a wider pool of talented individuals who are able to hit the ground running."
