Even before the COVID-19 pandemic, job applicants were facing a difficult employment market. Young people were widely underemployed, while simultaneously buried in student debt, and older workers had been forced to delay retirement at least in part because of losses from the 2007 recession.
It should come as no surprise, then, that after facing layoffs and business closures the scope of which are only rivaled by the Great Depression, as many as half of employees are seeking new jobs in the post-COVID economy. The question is, what types of jobs will they be able to find - and will they be able to compete with all the other applicants?
Creating A Competitive Edge
By combining underemployment with an influx of applicants and an unstable economy, every resume submitted for a job opening in the coming months is sure to face an enormous amount of scrutiny. Employers want to hire people who are appropriately qualified, who bring beneficial skills to the job, but who aren’t over qualified and may seem at risk of job hopping. That means, to gain a competitive edge, applicants should demonstrate a targeted skillset, and one way they can do that is by earning job-specific microcredentials.
What Is A Microcredential?
On a typical resume, an applicant might list such credentials as a BA in economics or literature, a technical certificate in electrical engineering, or a teaching certificate qualifying them to work in public schools. These are broad credentials earned over many months or years in intensive programs. A microcredential, however, demonstrates a much narrower competency earned in a shorter period of time. This might include undergoing training in a particular software platform, a skill like writing technical reports, or a new scientific or business concept; because microcredentials are developed and launched more quickly than conventional degree and training programs, they also offer up to the minute knowledge, which can strongly benefit job applicants.
Do Employers Recognize Microcredentials?
Microcredentials are still a relatively new concept and there is still some debate over whether employers should or will recognize these skills - and there are several reasons for this. First, microcredentials are, at least conceptually, still new. That means many employers haven’t had a chance to assess the value of microcredentials on employee performance, so they don’t take them into account during recruitment. Though they’re not very different from many established continuing education programs, employers are still asking for clarity regarding who can offer them, what they include, and how applicable those skills are to the job in question.
One way that job seekers or upskillers can ensure that employers will accept a microcredential is by enrolling in microcredentials that are offered in conjunction with universities or industry-leading providers. By creating such partnerships, new microcredential providers can access leading instructors and offer students the imprimatur of a respected school along with new skills or knowledge. In a world where name recognition matters, programs can’t underestimate the power of that connection.
An Opportunity To Upskill
While job applicants hoping to stand out to hiring managers may look to microcredentials as a way to distinguish themselves, they are also a way that employees can move up within a company or navigate a changing economy. In fact, many businesses are also considering how they might use their own microcredential programs to reskill employees, allowing them to remain with the company while gaining the skills necessary to adapt to major changes. Faced with a growing skills gap, both within individual companies and the job market more generally, microcredential programs could help people build those skills.
There’s no telling what the next several months will bring in terms of employment, but it’s likely to be competitive in entirely new ways. In the time between when the economy begins to recover, some workers may want to consider pursuing new microcredentials to support their job search. It may also be a time for employers to turn to microcredentials themselves to upskill their workforce to face the new normal.
