One of the great challenges of human capital management lies in the initial quest to find great talent. You can work as hard as anyone at engaging and retaining employees, but you still won’t be successful unless you find smart, capable people in the first place.
Often, one of the first places that companies look is at education. According to HR BLR, employers are increasing their educational requirements across the board. A new CareerBuilder survey found that 32 percent of companies are now more demanding than they were five years ago. For example, 27 percent are now looking for master’s degrees in positions where a simple four-year degree would have worked previously. In the same vein, 37 percent want employees with college degrees in positions that had been previously held by those with just high school degrees.
So why is there such an intense spotlight on education today? What do companies stand to gain from this strategy of demanding more education?
A lot, actually. The following are seven reasons for the heightened standards nationwide:
Simply put, people who are better educated tend to produce better work. According to the survey, 57% of employers have witnessed a positive impact on higher quality of work as a result of increasing their educational requirements. The lessons people learn in college and beyond are often applicable to thriving in the workplace setting.
Not only do highly educated people do better work, but they often do more of it as well. Graduates tend to have the perseverance to stick with tasks for longer periods of time and get them done efficiently.
It takes great communication skills to thrive in an academic setting, including working together with professors, advisers and classmates. Those same skills transfer well to the workplace, where one often needs to exert a great deal of collaborative effort.
More innovative thinking
Many college graduates have learned a lot over the years about developing creative ideas and executing them. Organizations that hire highly educated people are likely to push the envelope more.
Better retention numbers
It takes dedication to stick with a degree program for four years (or maybe more). Those who have done it likely have the skills to stick with one employer for a long time as well. If you want retention, look for people who can be retained.
More loyal customers
If you have employees who are smart and capable, your employers will probably notice. Once they do, they’ll be more willing to stick with your business because of your exceptional employees.
As a result of all of the above, companies can achieve their ultimate goal – more money. When you have educated employees, you can accomplish more each day, bring in more revenues and ultimately have a stronger bottom line. That’s what business is all about.