Fewer workers. More open roles.

Familiar hiring playbooks are no match for today’s talent shortages.

Employers are navigating a labor market where their staffing needs are growing and becoming more complex, but there are fewer available and qualified workers, thanks in part to dropping birth rates and immigration.

Workers are struggling too: The pathways into good jobs no longer line up with the traditional routes previous generations took.

The labor force is just as mismatched with demands, and today’s organizations need to step up and rethink how they attract, grow, and sustain the talent they depend on.

One of the first places to start is education requirements.

Globally, employers still aren’t lowering the barriers to apply, according to a new Lightcast report. In fact, postings requiring a degree have increased in the past 10 years.

However, it’s not the same around the globe.

In countries like the US, the jobs with the most postings don’t require a college degree. Meanwhile, the percentage of workers with a degree is actually growing.

Because technology is changing so quickly, the skills needed are changing right along with it. Those college degrees new graduates earn might not be helpful for them in the long run. Employers – as well as educational institutions – should look to promoting credentials and training that focuses on skills.

Internal mobility can also be a key way to cover a skilled labor gap. In addition to offering training for career growth, managers can work to identify transferable skills and “feeder roles” within their organization.

In short, the future of hiring in an increasingly tight labor market will require more flexible and open-minded strategies for both finding and developing talent, whether it’s removing degree requirements, building clear career pathways internally, or partnering with a staffing provider who can help.

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