(ProsperNews.net) – Walmart is joining a growing number of large companies that will not require a college degree for corporate roles. The retail giant is rewriting job descriptions and changing requirements for corporate employees and will now prioritize skills gained through experience. It joins major firms, including Google, IBM, and Accenture, who have all scrapped degree requirements in favor of “skills-based hiring.”
According to a report by the Burning Glass Institute, a labor research company, the degree requirement in parts of the jobs market has dropped by almost half, and 13 states have removed the requirement for some government employees.
The change is prompted partly by a reduction in the number of graduates and a lower college enrolment rate caused by enormous student debt that has transformed public opinion about higher education. In 2009, 70% of American high school graduates were destined for college, citing it as vital for future financial security. By 2019, the number who considered college essential dropped to 41%, while almost half of the parents no longer wanted their kids to enlist.
The change in attitude is reflected in the number of enrolments. More than 18 million people were in colleges across the US in 2010, but by 2021, that figure had fallen to just over 15 million. In other Western countries, however, the trend is moving in the opposite direction, and the cause is likely to be funding. Attending university in America costs an average of $58,000 a year, and combined student debt is $1.6 trillion.
A stark political divergence has also emerged, and those with conservative values, or who vote Republican, are turning away from college in much higher numbers than Democrats or liberals. In 2019, Pew Research found that 79% of Republicans believed professors brought their views to the classroom, while only 17% of Democrats agreed. They also felt there was too much emphasis on opinions and not enough on skills.
By 2023, only 19% of Republicans had faith in a college education.
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