[Slideshow] If educational qualifications no longer determine success, what does?
It used to be seen that those with higher education qualifications will do the best in life and those without, wouldn’t. But is this still the case? Or are organisations now hiring people based on much more, such as experience and hard and soft skills? The short answer: yes.
Looking at the 'Big 4'
In recent years ‘The Big 4’ accountancy firms (Ernst & Young, PwC, Deloitte & KPMG) have made significant changes to their academic entry requirements and no longer put the more academically successful candidates ahead of the competition.
Ernst & Young removed its policy of requiring a 2:1 and the equivalent of three B grades at A-level from its application process, enabling those with less favourable grades the opportunity to apply for the same jobs. They have also begun to use online assessments to judge the potential of candidates.
Our own internal research of over 400 graduates found that screening students based on academic performance alone was too blunt an approach to recruitment. It found no evidence to conclude that previous success in higher education correlated with future success in subsequent professional qualifications undertaken. - Maggie Stilwell, Managing Partner for Talent at Ernst & Young
Following in the footsteps of Ernst & Young, PwC scrapped their UCAS tariff as an entry criterion for the majority of their graduate schemes, and Deloitte and KPMG have stressed a more flexible approach that allows the opportunity for every application to be considered.
Successful recruitment strategies that effectively predict future potential in financial services are clearly now more than ever important.
92% of recruiters said psychometric tests were ‘useful’ or ‘very useful’ in determining recruitment decisions. This was due to academic qualifications not being a reliable measure of workplace behaviour, hard and soft skill sets, performance or cultural fit. - CIPD
What added layer of information can psychometrics offer you in these processes?
Browse through our slideshow to discover the wealth of information that Thomas assessments provide, enabling you to make confident people decisions.