Skills-based hiring was supposed to transform how employers evaluate talent, but new data shows the transition is happening at a slower pace than expected. https://t.co/P82pJWdpPd https://t.co/31fYbBFHPL ...

Skills-based hiring was supposed to transform how employers evaluate talent, but new data shows the transition is happening at a slower pace than expected. https://t.co/P82pJWdpPd https://t.co/GOGRUw4k0E ...

Skills-based hiring appears to be going out of style https://t.co/UDPzFmfu0p ...

Core Insights - Recent graduates face limited job prospects as AI increasingly takes over entry-level roles, raising concerns about Gen Z's competency in the workforce [1][2] - Stripe's head of data and AI emphasizes the importance of hiring recent graduates, particularly PhDs, for their cutting-edge skills and fresh ideas [2] - The shift towards automation in companies like Goldman Sachs and Salesforce poses risks to entry-level positions, with leaders warning of potential job losses in white-collar sectors [2][3] Company Perspectives - Stripe is actively hiring more new graduates, focusing on those with advanced degrees, to leverage their innovative thinking and proficiency with modern tools [2] - The company expresses concern over the talent pipeline in traditional software engineering, questioning how undergraduates will secure necessary opportunities for career advancement [2][3] - Stripe's AI executive highlights the importance of mentorship development, fearing a future without a robust pipeline of skilled workers [3] Industry Trends - Billion-dollar companies, including Workday and JPMorgan, are shifting to skills-based hiring to attract top talent, regardless of formal education [3] - The rise of AI is threatening the era of skills, as many specialized functions may become augmentable or replaceable by AI technologies [4] - There is a growing concern that the automation of human skills could drastically affect the career trajectories of recent graduates [2][3]

Core Viewpoint - Bank of America is enhancing its commitment to skills-based hiring by planning to hire 10,000 military veterans and 8,000 individuals from community colleges over the next five years, alongside creating 700 new financial center jobs in growth markets [1][2][5] Group 1: Hiring Initiatives - The bank aims to increase military hiring, bringing the total number of veterans hired since 2015 to over 30,000 [3][6] - Bank of America will double its annual hires from community colleges from 800 to 1,600, recognizing their role in preparing skilled talent for the workforce [4] - The hiring initiatives are part of a broader strategy to provide economic opportunities and support workforce development across the country [2][5] Group 2: Workforce Development - The company emphasizes a skills-first approach to hiring, focusing on training and development through its Academy, which offers structured programs and resources for career growth [2][8] - The bank's commitment to workforce development includes hiring individuals without four-year college degrees, military veterans, and community college graduates [2][4] - The Academy provides high-quality training, job coaching, and access to opportunities for employees to advance in their careers [8] Group 3: Local Market Expansion - Bank of America is expanding its financial center network in states like Alabama, Idaho, Louisiana, and Wisconsin, creating 700 jobs in these new locations [5][7] - The expansion includes plans for 26 financial center openings over the next 18 months and an additional 37 openings in 2027 [7] - This local market expansion supports the bank's commitment to driving economic growth and creating job opportunities [5]