Once a rare commodity, the “Bachelor degree” has now become a matter of entitlement, and in fact, it is mainly a virtual commodity in the current era. As such, “the laws of economics must prevail to drive down its value as a differentiator. Clerks, service workers, and assistants are now almost “required” to be degreed”.
Companies mostly care about skills rather than degrees. In this regard, they need ways to evaluate whether a specific person has the necessary skills or not. Yet, though not irrelevant, many times, skills cannot be truly reflected in grades, majors, and transcripts.
This is the point where micro-credentials come into play. Simply, they “can provide clear, digestible information about what the learner knows and has done (and therefore should be able to continue to do) in language and classifications that are portable and easy to consume and trust.” Especially, open Badges issued by learning institutions are valuable because “they carry encrypted information about what the learner had to demonstrate to earn the badge as well as the context for the badge itself. It is also the important job of the institutions and organizations to frame and certify badges. Without that, there would be no value.”