A World of Transformation: Moving from Degrees to Skills-Based Alternative Credentials
Postsecondary education is undergoing a period of profound change. One of the most significant changes is the emergence of skills-based, non-degree, alternative credentials as both complements and alternatives to traditional degrees. Several factors have combined to favor these shorter, less expensive, and more versatile ways to gain knowledge and skills for work. The factors include the rigidity and high cost of traditional degrees; the fact that traditional institutions are failing to equip many graduates with the skills they need; and the need to rapidly upskill and reskill workers to meet the increasingly complex demands of modern economies. This report summarizes evidence suggesting a decrease in the value of degrees as a signaling mechanism in the labor market. It also identifies the benefits of alternative, non-degree credentials and makes recommendations on ways to increase their value and acceptance in the market. It remains to be seen whether non-degree alternative credentials are a short-term strategy to close the skills gaps and deal with the transition to adaptive and qualified labor, or a permanent strategy of human capital development.
Saved in:
Bibliographic Details
| Main Author: |
Inter-American Development Bank |
|---|
| Other Authors: |
María Mercedes Mateo-Berganza Díaz |
|---|
| Language: | English |
|---|
| Published: |
Inter-American Development Bank
|
|---|
| Subjects: | Education,
Higher Education,
Skills,
Educational Institution,
Labor,
Labor Force,
Learning,
Industry,
Labor Market,
Workforce and Employment,
Wage,
MOOCs,
Academic Degree,
Public University,
Private University,
Learning Skill,
Skill Gap,
Digital Skill,
Lifelong Learning,
21st-Century Skill,
Skills Need,
Blended Learning,
Digital Badge,
Vocational and Technical Education,
Interactive Learning,
Digital Diploma,
Digital Training,
Learning Gap,
Coding Bootcamp,
E-Learning,
Human Capital Investment,
Pandemic,
Coronavirus,
I20 - Education and Research Institutions: General,
I23 - Higher Education • Research Institutions,
I28 - Government Policy,
J01 - Labor Economics: General,
J08 - Labor Economics Policies,
Non-degree credentials;alternative credentials;internships;MOOCs;coding bootcamp;apprenticeships;online degrees;micro-credentials;certification;certificate;skills gaps;skills need;21st century skills;labor market;labor force;COVID-19;academic degrees;higher education;human capital development;upskilling;badge;license;signaling;skills;public university;private university;partnerships, |
|---|
| Online Access: | http://dx.doi.org/10.18235/0004299
https://publications.iadb.org/en/world-transformation-moving-degrees-skills-based-alternative-credentials
|
|---|
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
|---|
