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Credential Transparency: Judging Return on Investment for Higher Education and Workforce
Companies are facing a persistent and growing skills gap, which has been exacerbated by the tight labor market. Employers use industry certifications, college degrees, boot camps, and badges to measure job skills, but until recently it was impossible to compare certifications or degree attainment.
Credential transparency provides specific details on a credential program’s length, cost, competencies, skills provided, level of mastery targeted, earnings potential, and employment outcomes. It allows individuals to compare credentials, be they diplomas, degrees, certifications, apprenticeships, licenses, or badges, to see which is more likely to result in a preferred career or higher wages.
Currently, 26 states are engaged in important work around credential transparency, allowing them to measure return on investment, align credential offerings with economic needs, and support the creation of digital transcripts and learning and employment records.
Credential transparency provides specific details on a credential program’s length, cost, competencies, skills provided, level of mastery targeted, earnings potential, and employment outcomes. It allows individuals to compare credentials, be they diplomas, degrees, certifications, apprenticeships, licenses, or badges, to see which is more likely to result in a preferred career or higher wages.
Currently, 26 states are engaged in important work around credential transparency, allowing them to measure return on investment, align credential offerings with economic needs, and support the creation of digital transcripts and learning and employment records.
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