By my assumptions, there are strong indications already that we are moving past an era where employers put educational qualifications at the fore front of their requirement for employment into certain positions, some employers now hold personal qualities such as skills possessed by the individual ahead of the school they went to and the degree they graduated with. First, I would like to ask, could this be a reflection of a failing educational system? My second question is that if you happen to be the employer here, which will you consider more, school or skills?
Both education and skills are necessary, but first a person has to be educated and then he has to be skilled. No one can learn skills without going to school, so first he must go to school, which means he must build an academic career. Then, if he is well-educated, he will definitely be skilled. Just as education is necessary in all aspects of human life, a skilled and educated person plays a huge role in the economic development of a country. Without practical knowledge, no matter how educated one is, he or she is of no use in the development of the country. Therefore, both school and skills are very necessary for the development of life.
There are many ways to acquire skills and most skills are developed through practice and experience. Therefore, a person who does not go to school or has no (formal) education can also acquire skills. But for these people, there will be many limitations in developing skills and careers because they do not have in-depth knowledge.
A person with skills but no education (degree) may have an initial advantage but in the long run, they will not be able to compete with people who have both education and skills. If we pay attention, we will see that many recruiting companies prioritize skilled people but mainly only in low-level positions. While higher level positions always require candidates to have both qualifications and skills. So you are right, both knowledge and skills are important and necessary.