Properly, the point of education should not be to get qualifications (though this is sadly where it is focused) but to learn things and develop skills. Qualifications should just be a marker to show the level of education you have. They're in no way the ultimate indicator of how suitable you'd be for a job. After all, one of the engineering technicians where I work has a degree in History of Art...
Exactly - one of the fundamental flaws has been hit on the head here. Next year as part of my degree I have to do a 'Communicating and Researching' module which develops things such as teamwork and presentation skills. I also do quite a bit of work for the university on open days, developing organisational and interpersonal skills.
Of course, that's not to say that academic qualifications are completely disregarded - just that schools and colleges tend to focus on getting you to do all the work as best as possible for themselves to be further up the league tables (and that is what I honestly think it all boils down to at the end of the day). OK schools and colleges do some things to develop you but not as much as they can - I mean when was the last time you did a group presentation and actually took it seriously to the extent you met up every night to sort it out? I can have a good guess at the answer.
There are other things employers look for though. If someone has perfect punctuality and is never late (even for school) then that can speak volumes to some employers who don't want to lose manhours. There are other things too, such as how you are with time management and prioritising workload, what extra curricular activities you do outside of school, what skills you have taught yourself, and how you can work both alone and as part of a team.
Application forms for jobs will normally have a space for these, and they're general things that can be put on a CV too (for employers that still look at them, along with covering letters).
With 'unrelated' degrees popping up quite frequently now, it's a case of getting one shows determination and hard work regardless of the subject (of course, there are some completely ridiculous ones such as 'surfing studies' which are an exception) and that tends to be the sort of thing employers look for.
Trying to shift the focus of the topic slightly, on the railways it really does depend what you're applying for and how old you are as to what they want in you. A driver has to have the ability to work alone with initiative and have excellent concentration and attention to detail. They don't want to spend all that money training you (£70k if I recall) if you're going to turn up for work late, have station overruns, and generally being on the radio every five minutes wanting your hand held. OK maybe I exaggerated that slightly but I'm sure the point is evident. Alternatively you may become a platform assistant, and whilst a level of attention to detail is needed, there are different things too such as ability to work as part of a team, speak politely face-to-face with customers and other such work.
Most of the time, ability to work at a job can be ascertained through an initial assessment and/or interview where it is more than likely they will ask you several hypothetical questions: 'If this was to happen what would you do?' kind of thing. They also want things like 'Describe a time in the past where you had to work as part of a team and if you had any problems, how did you overcome them?'. First impressions really do count (and even the effort of turning up the interview dressed smartly, on time, enthusiastic, and generally having good interview skills) will speak volumes to the employer - the sort of things that can't be determined by the fact you have an A in GCSE English Literature.