September 10, 2024 Why the Future of Tech Hiring is All About Skills – Not Degrees

Ever wish you could hire the best tech talent without wading through endless resumes or focusing on which Ivy League school someone attended? Well, you’re in luck because the job market is getting a serious makeover, and it’s all about one thing: skills.

A recent report by LinkedIn’s Economic Graph, reveals that companies are increasingly turning towards a skills-first approach when hiring, and in doing so are reshaping the job market. What does this mean? Instead of obsessing over degrees and certifications, businesses are now zeroing in on what really matters – what people can actually do. This approach is opening doors for a more diverse, robust, and resilient workforce.

Why the Shift to Skills-First?

Let’s take a quick trip back to 2020 when the pandemic hit (and don’t worry, this is not a bad flashback!), remote work took over, and suddenly a lot of people were rethinking their careers. Some were let go, but a large number of employees quit on their own accord, often because a traditional 9-5 job just wasn’t cutting it anymore. As a result, many questioned whether or not an expensive degree was worth it anymore.

With college costs soaring (making it inaccessible for an increasing number of people) and remote work becoming the norm, companies realized they needed a new way to find talent. Enter the skills-first approach, where what you can do is more important than what is printed on your diploma.

Topcoder: Pioneers of Skills-First Hiring

At Topcoder, we have been ahead of the curve for years. We have always believed that talent shouldn’t be limited by geography, age, sex, or educational background. Our global community of tech experts proves that skills can come from anywhere – whether you have a PhD in data science or you’re self-taught.

This does not mean that the members in our talent pool lack the requirements and skills to perform a job successfully. On the contrary, we have some of the best in the business, with top-tier talent in AI, data science, software development, and more. They are ready to dive into your project and get the work done, embracing the flexibility and autonomy that the skills-first approach grants them.

What Does This Mean for Tech?

According to the same LinkedIn report, a skills-first approach to hiring is a game-changer, especially in tech areas where diversity is lacking. Skills-first hiring can increase the candidate pool by up to 10% for Gen Z workers alone. Gen X and Millennials are also benefitting, with those candidate pools increasing by 8.5% and 9%, respectively. What does that mean? A more diverse, age-inclusive workforce.

Ready to Get Started? Here’s how:

1. Identify Key Skills: While degrees and certifications can help you narrow down your list of candidates, pause to think about what skills your team really need. Nail down the competencies that are crucial for each role.
2. Measure Experience Differently: Instead of counting years spent in school or at a job, look for real-world expertise. Topcoder’s competitive programming uses a ranking system to identify top talent in areas such as data science and advanced mathematics, giving you instant access to top-tier talent.
3. Promote Diversity and Inclusion: Skills-first hiring naturally brings in a diverse crowd. By focusing on what people can do rather than who they are or where they are from, you are opening up your talent pool to a wider range of backgrounds and experiences.

How Crowdsourcing Platforms like Topcoder Can Help

Why stop at traditional hiring? When you broaden your recruitment channels to crowdsourcing platforms like Topcoder, you connect with a vast, diverse talent pool without the traditional overhead. Plus, you can get multiple solutions to your problems and pick the best one – no ramp-up time required.

In a world where tech is evolving faster than ever, a skills-first approach isn’t just a trend; it’s the future. Ready to jump in? Visit topcoder.com and connect with over 2 million talented members who can start solving your tech problems in minutes.