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The article Competence over Credentials: The Rise of Skills-Based Hiring, published by BCG, explores the shift from traditional degree-based hiring to a more skills-focused approach. As rapid technological change demands continuous upskilling and reskilling, static college degrees are becoming less relevant. A 2022 BCG survey revealed that many job seekers prefer employers to prioritize skills and experience over formal credentials. To assess the impact of this trend, BCG and Lightcast analyzed over 20 million job postings. Their findings show that skills-based hires are just as likely to be promoted as degree-holders and tend to stay with their employers 9% longer. By embracing this hiring approach, companies can access a wider talent pool, break down barriers for non-degree holders, and build a more adaptable workforce.

Explore how skills-based hiring is reshaping the job market by reading the full article.

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