Pandemic-era disillusionment with the status quo has contributed to a “Great Opt-Out” of many traditional institutions, including higher education. The challenges of recruiting and engaging students, staff, and faculty have only been exacerbated over the past year, particularly for small and regional institutions.
EAB held a roundtable event to share insights from our latest research on the higher education industry as well as key opportunities for colleges and universities to redefine and articulate a value proposition that speaks directly to the needs of future campus stakeholders. Explore the takeaways below or jump to the next steps.
Review the key takeaways
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The undergraduate non-consumer market is larger and more reachable than we assume
In 2020, 32% of 18-24 year-olds had graduated from high school, but had never attended college. This population of “non-consumers” has grown over the last decade and represents a promising market for many colleges and universities.
While higher ed leaders may think that non-consumers are hard to reach, many of them are already in your databases because they applied to or were admitted to college but didn’t enroll. Regional colleges and universities should address summer melt to enroll a larger share of the non-consumer market.
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A centralized talent strategy is a must amidst a looming sansdemic
Over the pandemic, higher ed lost up to 11% of its labor force and has been hiring back those roles in rapid succession. However, the HR unit is not currently built for this hiring strategy, nor is it built for the high turnover we’re seeing in 2021-2022.
These talent shortages are projected to be a long-term reality for colleges and universities. To combat this and become an “employer of choice,” focus on your employer value proposition and make sure you’re highlighting non-cash compensation and higher ed’s unique benefits in job ads. Boards can also help with talent strategy by bringing in out-of-sector experiences.
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Compounding talent and mental health crises put a spotlight on integrative well-being
Talent shortages are starting to have significant impacts on the student experience as well, particularly when it comes to mental health service—a fact largely unnoticed by university leaders.
In the short-term, higher ed institutions can meet the increasing demand for counseling by triaging mental health support beyond the counseling center. To address longer-term challenges brought upon by potential staffing shortages, institutions must develop an integrative, institution-wide strategy that focuses on addressing the holistic well-being of the entire campus community with investment from the top down.
Take the next step
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Guide cabinet-level conversations
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