According to recent numbers from Crain's Detroit Business, the simple answer is: yes. That's because roles that require at least a bachelor's degree are on the rise.
A bachelor's degree was required for 25% of all job postings in Southeast Detroit in 2015, according to Crain's. This number is even higher for entry level positions, where 50% of job postings required a bachelor's degree in order to be considered.
Focusing on what employee recognition actually is will save precious resources, and face. Think of it as a gesture that acknowledges hard work and a job well done. Don’t worry about assigning a specific monetary value, or having the right people aware that you have gone through the trouble acknowledge an employee.
However, the most prevalent college majors do not always match hiring demands. While engineering and information technology positions made up more than half of the top 25 jobs requiring a bachelor’s degree in Southeast Michigan, roles such as sales management are the most common degrees actually chosen. This disconnect has led to a shortage of engineers and IT workers.
What does this mean for aspiring candidates and their potential employers?
First, candidates must consider the benefits of college education from a long-term viewpoint. While education is inarguably costly, statistically a degree will lead to greater job opportunity and greater pay.
As for employers, attracting rare graduates in fields such as IT and engineering will require aggressive hiring strategies. Competitive pay, attractive benefits, and unique recruitment strategies that go beyond LinkedIn search are a must; a simple job posting is no longer sufficient for attracting such a pool of candidates. Retaining such talent will also require opportunity for growth and enjoyable cultural factors.