PRH UK Drops College Requirement for New Positions
Penguin Random House UK has stopped requiring college degrees of job applicants.
There's a rule of thumb in employment and recruitment that job requirements and salary are set just high enough to get applicants who are good enough to meet one's needs. If one has an excess of qualified applicants, one can raise the requirements (or lower the salary offering).
This is a variation of the classic supply/demand curves, and so is the corollary that if one can't get enough adequate applicants, one can raise the salary offering or lower the minimum requirements.