The world of work is rapidly changing.
In response, micro-credentials are emerging as one of the most important trends in digital learning.
Educational institutions are searching for new ways to engage industry. Micro-credentials are a logical way for this to happen, particularly if they are designed to be integrated with work. Institutions can create general courses to sell, but they can also offer additional contextualisation to particular organisations. This can help programs to become financially sustainable and encourages further engagement with industry.
Finally, by encouraging a culture of learning in corporate organisations, educational institutions can have a new avenue to reach individuals who may want to engage in ongoing education, even if it is separate from their company.
In a knowledge economy, an organisation’s people are their greatest asset. The Future of Jobs Report by the World Economic Forum recently found that by 2025, 50% of employees will need training to address a change in required skills. For organisations, this requires a large shift in how they develop staff, often into what could be considered nontraditional areas.
The speed and flexibility of micro-credentials can help to address this need. Programs can be implemented quickly and they don’t always need to align to existing training packages. Instead, their value and credibility come from the issuer and the quality of the learning involved. This opens up opportunities for new courses to be created quickly, responding to unique needs without the need for bureaucracy.
For individuals, micro-credentials are a great way to improve your employability. Firstly, they allow you to quickly and cost effectively upskill, sometimes even in topical or niche areas that may not be serviced by a full degree. This guarantees that your skills are up to date, without the need to commit to months or even years of courses. They also demonstrate an interest in ongoing education, something that many employers are interested in as they promote their own culture of learning. They also allow you to engage in a broader range of capability areas from different providers than traditional postgraduate study pathways allow.
Suppose micro-credentials are completed as part of an existing job. In that case, they still allow you to upskill in areas that matter and organisations are increasingly using these as a path to future promotions. Similarly, they will require a lower time commitment, making it easier to complete alongside your role. They can also be transported from job to job, forming a virtual resume.
AGSM@UNSW Business school and Guroo Producer partnered to create and deliver a suite of 14 micro-credentialed programs utilising blended and adaptive learning approach, delivered virtually with the facilitation personalised through learner insights provided by the Guroo Academy portal.
The programs have been a huge success, with AGSM enrolling 250 new learners a month and achieving a 4.5 star learner experience.