It deeply depends on your field.

I saw a developer position recently that required at least a four-year degree and it genuinely surprised me because of how infrequent that requirement appears on developer job postings. The vast majority of posts I see are "four years degree or equivalent experience"

I've worked in software shops before where less than half of the staff had a 4-year degree completed—but it is noteworthy y that everyone had at least some college.

>and my own employer when applying for advancement

That I have seen before, but in higher-ed, where it is kind of a given as it is sort of an eating-your-own-dog-food requirement. If your top employees don't have a degree, and you sell degrees, it can tarnish your appearance.