Even with companies facing significant difficulties when trying to hire workers, experts say they are still making a critical mistake.
, CEO of OneTen, a national initiative aiming to hire, promote and advance 1 million Black individuals who do not have a four-year degree into family-sustaining careers, said eliminating those hurdles is critical.
“The four-year degree requirement is a great invisible barrier,” Jones said. “The bottom line on that is 76% of all Black talent, ages 25 and above in the workforce today do not yet have a four-year degree. So if you put a four-year degree requirement, you are blocking out most Black talent in the workforce today.”
Jones said one of the keys to addressing the problems and disparities is taking a skills-based approach that focuses less on credentials and more on capabilities. It’s also a better approach in a competitive talent environment, he said. “You see higher retention from skills-first hiring, you see a better fit between talent and the actual job,” Jones said. “And frankly, people aren’t paying a premium for a credential that may be completely unrelated.”“Frankly, people also aren’t left paying a premium for a credential that may be completely unrelated,” he said.
But Jones said recruitment is only one part of the equation. Many employers have underutilized talent within their businesses. As OneTen works with companies, it often finds diverse talent within companies that have been stuck in frontline roles for years. But that means biases and the other structural challenges in the promotion system have to be addressed.
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