(CNN) - Employers are raising the academic bar for new hires.
A new Harvard Business School study said the trend is costing companies.
Employers only seeking applicants with 4-year degrees could pay more in salaries and see long-term job vacancies.
There are currently 6.1 million job openings in America, a near-record number.
But applicants with relevant experience are still being overlooked.
The study suggests that companies customize application processes so all qualified job seekers are considered.
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