In today’s dynamic job market, the pathways to leadership are varied, encompassing higher education degrees, direct experience, vocational education, or often, a combination of all three. As workforces evolve, industries demand increasingly specialised skills, and the economy faces a significant skills shortage, the traditional route of obtaining a university degree is being scrutinised. Is higher education still the golden ticket to career success, or has its value diminished due to oversubscription? How does vocational education stack up in preparing professionals for leadership roles? Should we re-assess the standard degree requirement for job roles across sectors?
The value of university degrees has prepared generations for successful careers, and provided an invaluable route to societal movement, however with so many graduates now flooding the market, some argue that a degree alone no longer guarantees a competitive edge. This oversubscription has led some to question the return on investment of spending years in academia, especially amidst soaring tuition fees and burgeoning student debts. Moreover, the rigid curriculum of many academic institutions can sometimes lag behind the rapidly changing demands of the modern workplace.
Vocational education is often seen as a ‘lesser’ pathway in Australian cultural norms, despite offering a more direct and often quicker route to employment, equipping students with specific skills tailored to industry requirements. For many, a university setting might be impractical, against their learning style or unaffordable. Vocational courses provide valuable opportunities, particularly for older workers, to update their skillset, making them more competitive in the job market.
Skills and labour shortages are two of the most pressing concerns facing societies and economies today. PwC’s 2023 Annual Global CEO Survey found that 52% of CEOs believe labour and skills shortages will significantly impact profitability in their industry over the next 10 years. During a time when businesses globally are having to respond to everything from the pandemic, economic and geopolitical uncertainty to stakeholder and competitive pressures, talent shortages are adding significant pressure. The report recommends a “skills-first” solution that ‘focuses on whether a person has the right skills and competencies for a particular role, rather than having the right degree, job history or previous job titles’. It democratises access to jobs and has the potential to deliver significant benefits to business, as well as society and economy.
Some sectors in Australia have already shown that an alternative route to qualification can be implemented successfully, for example, nursing, law, accountancy, IT and engineering. Employer sentiment is also changing; according to the National Centre for Vocational Education Research, in 2021 40.2% of employers had jobs that require vocational qualifications, up 6.0 percentage points from 2019. In a post-pandemic era with a national skills shortage, cost of living crisis and renewed focus on the diversity of learning styles and job needs, vocational skills training is re-building its reputation as a viable pathway to senior careers across industries, and a necessary requirement as people work longer in a rapidly changing world, highlighting the need for lifelong learning.
As business environments evolve, the need for continuous education becomes more pronounced. Vocational programs, with their focus on practical skills and immediate applicability, are well-suited to address this need. They offer an agile response to industry changes, such as new legislation or shifts in best practices. For example, the new Work Health and Safety Act 2020 in WA and associated responsibilities such as Psychosocial Hazards, necessitate a quick and effective educational response, something vocational courses are designed to provide.
The Australian Government has already begun to look into this broader issue with the Australian Universities Accord, policy shifts, and associated funding structures such as Jobs and Skills funding to promote the uptake of vocational education to address skills shortages.
So, given this recalibration of the education sector, should companies relax recruitment degree requirements? This question is becoming increasingly pertinent in today’s job market. For strategic roles that require critical thinking, extensive knowledge, or leadership skills that benefit from a theoretical grounding, a university degree might still be preferable. However, there are many roles where this requirement is superfluous. Vocational qualifications often indicate that the individual has specific, practical skills and a readiness to perform in a particular role from day one. The practical emphasis in vocational leadership training also prepares learners for real-life leadership challenges, particularly as people-leaders.
As we celebrate Careers Week in Australia during our current skills and cost of living crisis, this seems a pertinent time to also look at job requirements and the perception of pathways to certain roles. The integration of vocational training and traditional education, combined with real-world experience, will likely become the most effective strategy for developing future leaders. This blended approach ensures that individuals are not only well-rounded in theory but also adept in practical, applicable skills that drive industries forward. The pathways to leadership are diversifying, and the educational systems that support these paths must adapt accordingly to prepare the leaders of tomorrow.
Find out more about vocational leadership learning opportunities at Aveling.com.au
