Prioritize, Focus, Evolve
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Slides from the Eduventures report Prioritize, Focus, Evolve, which discusses the critical issues facing higher education leaders in 2014. Download the full report at http://www.eduventures.com/prioritize2014/
Transcript of Prioritize, Focus, Evolve
- 2014 Eduventures, Inc. Priori7ze, Focus, Evolve. March 2014 Cri7cal Issues Facing Higher Educa7on Leaders in 2014
- 2014 Eduventures, Inc. Eduventures is the industry leader in research, data, consul7ng, and advisory services for the higher educa7on community. For 20 years, college and university leaders and educa7on industry providers have looked to Eduventures for innova7ve and forward- looking ideas, for insights into best prac7ces, and for help with making the strategic and opera7onal decisions vital to their success. More about Eduventures can be found at www.eduventures.com. About Eduventures 2
- 2014 Eduventures, Inc. Overview 3 At a 7me when higher educa7on is facing more cri7que than any point in recent memory, it is cri7cal that colleges and universi7es priori7ze, focus, and evolve their opera7ons and their oerings. Here are the areas we believe that higher educa7on leaders should pay par7cular aOen7on to in 2014: The con7nued scru7ny of higher educa7on The priori7za7on of outcomes The reten7on culture The blended learning opportunity The regionaliza7on of online higher educa7on This presenta,on oers an overview of the data points that are discussed and analyzed in the report Priori%ze, Focus, Evolve: Five Cri%cal Issues Facing Higher Educa%on Leaders in 2014. For the full report, contact your client services advisor or visit www.eduventures.com/priori,ze2014
- 2014 Eduventures, Inc. The Con,nued Scru,ny of Higher Educa,on
- 2014 Eduventures, Inc. The value of a college educa,on has never been called more into ques,on. In fact, 24% of alumni who have graduated in the last ten years think the cost of their educa,on exceeded its value. The Con7nued Scru7ny of Higher Educa7on 5 73% 3% 64% 6% 52% 9% 43% 15% 34% 24% 0% 10% 20% 30% 40% 50% 60% 70% 80% Value exceeds cost Cost exceeds value 1972 and Earlier 1973 to 1982 1983 to 1992 1993 to 2002 Young Alumni Source: Eduventures Alumni Pulse Survey
- 2014 Eduventures, Inc. The impact of the percep,on of value is not abstract, par,cularly when taken in context with debt load. The average student debt load is $27,000. At that level, it impacts your alumnis propensity to give back: The Con7nued Scru7ny of Higher Educa7on 6 Source: Eduventures Alumni Pulse Survey 16% 12% 6% 3% 2% 2% 1% 15% 13% 9% 4% 3% 4% 2% 12% 13% 10% 6% 5% 8% 3% Less than $10,000 $10,001 - $20,000 $20,001 - $30,000 $30,001 - $40,000 $40,001 - $50,000 $50,001 - $100,000 More than $100,000 Current Donor Lapsed Donor Long-Lapsed Donor Debt at these levels signicantly impacts alumni giving.
- 2014 Eduventures, Inc. The Con7nued Scru7ny of Higher Educa7on 7 What This Means: Even amongst higher educa7ons biggest cri7cs, it is s7ll acknowledged that there is value in the tradi7onal college educa7on. However, it is incumbent on university leaders to clearly dene that value they oer their stakeholders, and communicate what it is and is not. Ques,ons to Consider: q What is your ins7tu7ons unique value proposi7on? How does it stack up against your compe7tors? q Do your marke7ng materials discuss features or benets? q What is your assessment strategy? Do you faculty buy into and ac7vity par7cipate in it? q What is the average debt load of your students? How is that impac7ng your alumni par7cipa7on?
- 2014 Eduventures, Inc. The Priori,za,on of Outcomes
- 2014 Eduventures, Inc. For the rst ,me, career prepara,on is outpacing academics, social environment and aordability as the top driver of college enrollment among tradi,onal-aged students. The Priori7za7on of Outcomes 9 Source: Eduventures College Bound Market Update 4 4.5 5 5.5 6 6.5 Career prepara7on Core academics Academic environment Aordability Social environment Advanced academic opportuni7es Physical environment Diversity of academic opportuni7es 2011 2012 2013
- 2014 Eduventures, Inc. If the career prepara,on you provide your students once they enroll does not meet expecta,ons, it will impact their propensity to make a giX aXer they graduate. The Priori7za7on of Outcomes 10 Source: Eduventures Alumni Pulse Survey 33% 57% 8% 27% 59% 13% 19% 57% 23% Exceeded Expecta7ons Met Expecta7ons Did Not Meet Expecta7ons Will make a gie Unsure Will not make a gie
- 2014 Eduventures, Inc. The Con7nued Scru7ny of Higher Educa7on 11 What This Means: It has never been more cri7cal for colleges and universi7es to integrate career services throughout the student lifecycle. This eort should be driven by a career development oce that is heavily integrated with all aspects of the experience, from admissions to academics to alumni rela7ons. Ques,ons to Consider: q How early are your students proac7vely engaged in career-related programming? q How does your career development oce engage with alumni? q How does your career development oce partner with the admissions oce? The faculty? The alumni rela7ons oce? q How are you tracking the outcomes of your graduates? How are you repor7ng that informa7on to your stakeholders?
- 2014 Eduventures, Inc. The Reten,on Culture
- 2014 Eduventures, Inc. Reten,on is usually considered to be a top revenue-producing strategy. However, only 32% of colleges dedicate a full-,me posi,on to the eort. The Reten7on Culture 13 Source: Eduventures Study of Reten7on Outperformers 32% 64% Full-7me posi7on whose primary role is reten7on management Reten7on commiOee *Ins%tu%ons are allowed to select both op%ons
- 2014 Eduventures, Inc. While the majority of colleges provide ongoing programming to aid reten,on eorts, the target of those popula,ons is wildly inconsistent across student popula,ons. The Reten7on Culture 14 Source: Eduventures Study of Reten7on Outperformers 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% Living-learning communi7es Academic diculty interven7on program Mandatory no7ca7on of grades Mandatory repor7ng of aOendance Academic tutoring or coaching Debt management programs for enrolled student
- 2014 Eduventures, Inc. The Reten7on Culture 15 What This Means: When it comes to retaining students, colleges need to think holis7cally, addressing aspects of the experience for the full mix of student types on an ongoing basis, including academic, social, and nancial factors. Ques,ons to Consider: q Who is accountable for reten7on strategy at your college? What percent of their 7me do they spend focusing on it? q What tac7cs make up your current reten7on strategy? q How well do you prepare new students to know what they need to do to complete on 7me? q How do you support the success of your online and adult learner popula7ons? q How do you support or incen7vize faculty to support student reten7on through advising?
- 2014 Eduventures, Inc. The Blended Learning Opportunity
- 2014 Eduventures, Inc. Interest in returning to school is declining among adult learners. The Blended Learning Opportunity 17 Source: Eduventures Adult Higher Educa7on Consumer 32.6% 44.8% 22.6% 31.1% 45.5% 23.3% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% Go to school in 3 years Don't an7cipate school, but interested Don't an7cipate school, not interested 2012 2013
- 2014 Eduventures, Inc. The preference for adults of every age from 18 to 65-years-old and above is for a blended learning experience which incorporates a mix of box campus and online to varying degrees. The Blended Learning Op