Most hiring managers acknowledge that there are not enough skilled workers in today’s workforce–and most also agree that they need to reevaluate their hiring practices in order to bring in more skilled workers, according to a new report.

The U.S. Chamber of Commerce Foundation’s new report, “Hiring in the Modern Talent Marketplace,” demonstrates that employers and hiring managers are preparing for a world where competencies–not degrees–are the most important factors when filling a job. The findings show that employers value their work with higher education to align what is taught in the classroom with the needs of the economy.

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The report surveyed 500 hiring managers, and respondents acknowledged the need to overhaul their hiring practices to focus on competencies over formal education credentials. Nearly three-quarters (74 percent) of respondents agreed that there has been a lack of skilled talent among the available workforce in recent years.

About the Author:

Laura Ascione

Laura Ascione is the Editorial Director, Content Services at eSchool Media. She is a graduate of the University of Maryland's prestigious Philip Merrill College of Journalism. Find Laura on Twitter: @eSN_Laura