Human Capital Shortfalls
The ACS Group has examined Human Capital Development since 2003 at all levels of the business and educational development system.
America’s current approach is mostly random. Our existing system assumes each person knows their career path and has the intelligence and background to accomplish their goal and be successful.
Our current United States, and past conditions, has stretched Human Capital Resources past the limits of sustainability from our education institutions.
America has become more dependent on foreign educated professionals, especially in S.T.E.M. (Science, Technology, Engineering and Mathematics) professions.
Four year completion rates are about 50% overall and about 60% for non-S.T.E.M. fields.
S.T.E.M. four year completion rates are about 18%. There needs to be a focused process to have the right people in the right career fields in order to incur success. Because of the more demanding requirements, these degrees have averages of 5 years versus 4 years.
- Graduate Degree Rates are Substantially Lower:
- Graduate Degrees Overall Completion is about 7%
- Graduate S.T.E.M Degrees Completion is about 4%
- Doctoral Degrees Overall Completion is about 4%.
- Doctoral S.T.E.M. Degrees Completion is about 2%. (Rates are 1% or less in highly specialized and multi-disciplined fields).
With low success on the individual choice of career, it is an immense waste of educational resources.
A Different Approach for More Predictable Human Capital
Candidates can be assessed at different points of education and life to find the career calling or related career utilizing prior education and skills.
There are parameters for intellectual, behavioral and skills interest areas that can be invaluable to ensure success.
- Many S.T.E.M. careers require a minimum intellectual score for the more rigorous program materials, especially mathematics and science curricula.
- Behavioral acumen is needed for the intensity of hours and stress these professions endure.
- There is a wide gap between what many feel they would want or be successful career engagement and what assessments may reveal.
All instruments have high reliability with long-term acceptance or prerelease normalization. Normalization makes these assessments candidate neutral and applicable nationwide.
Although S.T.E.M. fields have the most focus for creativity and advances, other career fields of critical societal support can also be determined.