There has been a rise in alternative credentials as it bridges the gap between the programmes that higher education institutions offer and the skills that the firms require, says Sumesh Nair
With rapid transformations in the EdTech space, post-secondary education has drastically changed. Online education has become the new normal. There has been a rise in new credentials that engage millions of students, academicians and learners across the globe. There is a wide range of alternative credentials. These included micro-credentials, digital badges and industry-recognised certificates that grabbed the attention of learners, owing to the huge benefits they offer in terms of upskilling and reskilling. Another reason for the huge demand for these alternative credentials is its affordability. It offers the ease of learning from remote locations with the comfort of learning at one’s own pace.
Over the past year, there has been a rise in alternative credentials as it bridges the gap between the programmes that higher education institutions offer and the skills that the firms require. COVID19 has changed the perception of education and skills. This has further accelerated the market for 36 billion fully online bachelor’s degrees in 2019. To what extent the online degrees or alternative credentials supported, converted or replaced the traditional market is yet to be determined. But the data suggests that the global alternative and micro-credential market still only accounted for $10B in 2019. However, by 2021, this number grew dramatically. Due to the pandemic, people focussed on upskilling and acquiring knowledge ahead of traditional learning.
Reasons for the rise of alternative credentials
Offers Flexibility and Additional Knowledge: Higher education has traditionally been dominated by long-term learning models. This consists of carefully curated, ordered and selected curriculums, combined with bodies of knowledge suitable for future roles and professions. The range of standard qualifications is calculated by calculating the learning time which is then divided into smaller modules with generally agreed standards for the overall learning level of each qualification. These small modules (subjects, units, courses, classes) were traditionally not recognised independently beyond credits. Hence, alternative credentials which offer a wider learning scope and flexibility gained momentum as businesses are keen on acquiring resources that have acquired skills beyond course studies.
Higher credibility amongst recruiters: The extent to which traditional post-secondary education models support the rapidly changing industry requirements is controversial. In an environment where rising costs of degrees and formal education exceed government and individual solvency, numerous tools and alternatives have been developed over the last 5-10 years. However, the confusion and complexity of recruiters, options, and models remain. Today, alternative credentials are an effective way of resolving all these issues and gaining the trust of the recruiters.
Growth in the past year
As per Class Central, a MOOCs search engine, there were approximately 900 HEIs offering MOOCs in 2019 across the world. Higher education institutions like Massachusetts Institute of Technology, University of Michigan, Stanford University, Indian Institute of Technology Kharagpur and University of Naples Federico II, among others, offer more than 150 courses. Today, several other private organisations offer highly advanced alternative credentials to help learners get highly accredited certifications, accepted by organisations globally.
Large companies, especially technology companies, also offer specifically curated training programmes. Amazon, Cisco, Google, IBM, Microsoft and other tech companies are proactively offering alternative credentials programmes focused on information technology, especially emerging technologies fields such as artificial intelligence and cyber security.
Today, other private organisations have also ventured into providing advanced training to their employees. The future of alternative credentials lies in further research and development in curating as well as implementing new programs to help learners from every field. While there has been massive growth in the field over the years, this is just the beginning!