The primary corporate hiring trends centered around hiring either US nationals or foreign citizens include dropping degree requirements and leveraging artificial intelligence.
1. Dropping Degree Requirements
- Several top corporations in the United States are dropping a long time preference — the college degree, in hiring skilled workers.
- The trend towards dropping degree requirements gets approval from labor market experts. It favors relevant skills, sometimes acquired through bootcamps or industry-related vocational training, over a four-year degree. The Harvard Business Review has prior noted: “that competency is more important than credentials, and warned of how degree requirements could threaten the economy.”
- According to a study conducted by LinkedIn, most companies are now either asking for a college degree or “equivalent practical experience.”
- A Learning House and Future Workplace study found that about nine in ten employers in the nation are open to hiring candidates without a college degree.
- Nearly 66% say they are open to accepting candidates with a certificate, an online degree from a MOOC (47%), or a digital badge (24%) in place of a college degree.
- IBM, Nordstrom, Google, Costco, Apple, Netflix, and Bank of America are some corporations that don’t require a degree, according to a list from Glassdoor.com.
- The director of IBM career and skills, Kelli Jordan, reports that they have dropped this requirement for “the vast majority of jobs” and have turned to “administering skills tests to ensure candidates have what it takes to succeed in positions ranging from software engineer to accountant.”
- In addition to major corporations taking part, this trend is also among the most talked-about by experts and authoritative news articles.
2. Leveraging Artificial Intelligence
- The adoption of AI is on the rise in the United States’ staffing industry.
- Artificial intelligence is suitable for almost every stage of the hiring process, including screening candidates, vetting resumes, interviewing candidates, writing job descriptions, and deciding which jobs to fill.
- AI can automatically identify candidates for a particular job through trained algorithms, faster than the traditional recruiting process.
- The AI matching and response capability can help recruiters to “identify and respond to top candidates more quickly than ever before so that more candidates can have quality interaction with recruiters.”
- A survey sponsored by Oracle and conducted by HR Research Institute found that 77% of HR professionals in the nation will adopt AI in the next two years for talent acquisition to some extent.
- Other studies report that “96% of HR managers believe AI can improve talent acquisition and retention significantly.”
- L’Oreal is one organization that uses AI for corporate hiring. Reportedly, the company uses AI to screen over 1 million candidates for its 15,000 jobs a year.
- It has indicated in the past that the adoption of AI has saved the firm more than 200 recruiting hours and enabled it to hire the most diverse group to date.
- In addition to receiving mention in news and experts articles repeatedly, this trend is also among the most talked-about by experts and authoritative news articles.