TORONTO, Oct. 25, 2023 (GLOBE NEWSWIRE) -- In the past few years, there has been a major shift in skills training and education upgrading in Canada, which has gone under the radar. Microcredentials, otherwise known as MicroCreds, have ballooned in numbers and popularity, especially since the COVID-19 pandemic, and now educational institutions across Canada offer them. A white paper released today by Express Employment Professionals delves into the who, what, where, when, why and how of microcredentials.
For years, the Canadian economy has suffered from a skills mismatch—unemployed Canadians do not have the necessary skills for the jobs currently open. That skills mismatch is a major part of the reason that Canada has more than 700,000 job vacancies despite there being 1.3 million unemployed Canadians. This means 1.7 unemployed Canadians were available for every vacant position.
In other words, there isn’t a shortage of labour in Canada—but a shortage of skills. Microcredentials are increasingly seen as a key solution to fixing this skills problem.
These shorter, more customizable, and often more affordable, learning opportunities can help job seekers and existing employees secure in-demand jobs by upskilling without committing to a much longer traditional degree program. This results in companies getting the skilled workforce they need sooner.
The new white paper, titled "The Big Rewards of Microcredentials", shows that companies want and need candidates with the requisite skills now, with three-quarters (74%) saying they are desperately seeking more skilled workers but don’t have the time to wait for them to receive a two- or four-year degree. Even more companies (80%) wish there was a way to expedite the time it takes for workers to obtain the necessary skills for a job.
Job seekers agree, with an even higher proportion (79%) saying they want to further their skills but don’t have the time to complete a traditional degree, and most (87%) saying they wish there was a way to get the skills necessary for a job faster.
The survey data also shows that both employers and job seekers value microcredentials, with half saying microcredentials are just as valuable as traditional two- or four-year degrees (48% of both employers and job seekers) and almost a quarter saying microcredentials are more valuable than traditional degrees (21% of employers and 22% of job seekers).
In addition, a large majority of employers (76%) and job seekers (84%) agree microcredentials provide the workforce with skilled workers in a timely manner.
Using exclusive survey data prepared by The Harris Poll for Express and recent economic data, as well as drawing on the real-life experiences of Express Employment Professionals franchise owners and the companies they serve, this white paper examines what microcredentials are, which institutions offer them, how to verify their legitimacy and their role in the future labour force. What becomes clear is that microcredentials are here to stay.
“Every aspect of our lives is becoming customizable on demand,” said Express Employment International CEO Bill Stoller. “Why shouldn’t education follow suit? Microcredentials—or microdegrees—are proliferating as a cost-effective way for job seekers and employees to develop their skills and prove their talents on their own schedules.”
Survey Methodology
The Job Insights survey was conducted online within Canada by The Harris Poll on behalf of Express Employment Professionals between June 8 and June 22, 2023, among 507 Canadian hiring decision-makers (defined as adults ages 18+ in Canada who are employed full-time or self-employed, work at companies with more than one employee, and have full/significant involvement in hiring decisions at their company). Data were weighted where necessary by company size to bring them into line with their actual proportions in the population. Respondents for this survey were selected from among those who have agreed to participate in our surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within + 4.6 percentage points using a 95% confidence level.
The Job Seeker Survey was conducted online within Canada by The Harris Poll on behalf of Express Employment Professionals from June 13 and June 26, 2023, among 507 adults ages 18 and older who are employed or not employed but looking for work and looking for a new job. Data are weighted where necessary by age, gender, race/ethnicity, region, education, marital status, household size, household income and propensity to be online, to bring them in line with their actual proportions in the population. Respondents for this survey were selected from among those who have agreed to participate in our surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within + 5.6 percentage points using a 95% confidence level.
If you would like to arrange for an interview to discuss this topic, please contact Ana Curic at (613) 858-2622 or email Ana@MapleLeafStrategies.com.
About Bill Stoller
William H. "Bill" Stoller is chairman and chief executive officer of Express Employment International. Founded in Oklahoma City, Oklahoma, the international staffing franchisor supports the Express Employment Professionals franchise and related brands. The Express franchise brand is an industry-leading, international staffing company with franchise locations in the U.S., Canada, South Africa, Australia and New Zealand.
About Express Employment Professionals
At Express Employment Professionals, we’re in the business of people. From job seekers to client companies, Express helps people thrive and businesses grow. Our international network of franchises offers localized staffing solutions to the communities they serve across the U.S., Canada, South Africa, Australia and New Zealand, employing 579,000 people globally in 2022 and 10 million since its inception. For more information, visit ExpressPros.com/CA.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/71188cea-27e2-4961-bd77-c424c1e8c719
