How microcredentials are supporting lifelong learning

Learning isn’t linear anymore. Higher education – which was once a steady progression from one level to the next – now follows a far more irregular pattern due to the evolving demands of global employers, the developing needs of the labour market and the pressure on business schools to remain agile and relevant to the world outside their storied pillars. The pandemic’s immediate impacts on social interaction disrupted the status quo of how we learn – a disruption many would argue was long overdue.

Traditional four-year degrees are still required for most career fields and leadership roles. However, alternative learning methods including badging, certificates and microcredentials are gaining momentum as demand for more flexible, affordable and skills-focussed learning experiences increases. To maintain timely knowledge in burgeoning areas like technology, crisis management and business analytics, employees and leaders don’t have the luxury of time. They need opportunities to develop expertise in a variety of formats, on demand. Microcredentials offer employees the opportunity to gain this skill currency but also to advance their careers, or pivot to new roles altogether.

Even though there is debate as to whether microcredentials can – or should – replace traditional degree programmes, evidence suggests that employers see a purpose and a need for traditional degrees paired with microcredentials. In July 2021, AACSB International partnered with CMSWire to survey the ongoing demand for – and opportunities around – microcredentials in employee development. Feedback from over 400 professionals at and above the manager level at organisations with at least 500 employees supported the idea that both microcredentials and traditional four-year degrees are valued in the workplace.

In The Future of Microcredentials report, the study shares that over 80 per cent of organisations said they currently use microcredentials for employee development, and nearly 70 per cent of respondents think their organisation will be either significantly or moderately more reliant on traditional four-year degrees for hiring in the near future. Additionally, 46 per cent of leaders also believe that better aligning learning solutions with employees’ career cycles would have a high impact on their organisation’s professional development needs. The flexibility and structure of microcredentials support transitional learning and upskilling throughout individuals’ careers, helping employees grow and organisations thrive.

Microcredentialed learning – which includes modules that can stack into a larger credential or degree – is an attractive option for employees who value the flexibility of a microcredential and the credibility of a degree. Individuals who have already earned a degree can continue upskilling with microcredentials throughout their professional careers, empowering them to remain competitive in the workforce.

However, fully unbundled higher education could become more mainstream as individuals may first seek to pursue a series of microcredentials to explore their interests, and then choose a degree path. Regardless of the learning journey, the combination of microcredentials and degree programmes addresses organisations’ specific skill gaps, empowering employees to advance in their careers while providing employers with a knowledgeable and agile workforce.

Employers should pay close attention to the benefits this type of learning offers and seek collaborations with business schools to uncover ways to incorporate it into their learning and development strategies. While microcredentials and degree programmes each serve their own purpose – ideally, the two should co-exist – the combination requires innovation and a greater understanding of employer requirements. Business schools are well positioned to be partners with organisations in this effort by offering both degrees and microcredentials, eradicating the idea that learning is an either/or decision.

Microcredentials will play a stronger role as complements to – and in some cases, primary vehicles for – individuals’ lifelong learning paths. The result will be an empowered, upskilled workforce capable of positive, long-term economic impacts.