A nationwide survey examined the role of educational credentials in the employment practices of private sector companies and institutions. In September 1983, surveys were mailed to a random sample of 1,500 members of the American Society for Personnel Administration. A follow-up mailing was conducted a month later. A total of 643 completed surveys (43 percent) were returned. Finance, insurance, and real estate companies were slightly overrepresented in the sample, and wholesale and retail companies were probably underrepresented. More than 90 percent of those responding place either a major or moderate emphasis on educational credentials, with larger companies tending to emphasize them more than smaller companies. Overall, about 18 percent of the employees covered in the study are working in positions that require less than a high school diploma. Twenty-three percent of the responding companies have no jobs that require less than a high school diploma. About half of the companies in the study sample have fewer than 8 percent of their employees in jobs requiring less than a high school diploma, and approximately 15 percent of the companies have 50 percent or more of their employees in such jobs. About 38 percent of the employees are working in positions requiring a high school diploma or equivalency credential, and about 16 percent of the positions require certification beyond the high school level. About 25 percent of those surveyed request a copy of job applicants' educational credentials, and nearly 40 percent request a copy of applicants' educational transcripts. (MN)