career development’s role in recruitment & retention
TRANSCRIPT
Career Development’s Role in
Recruitment & Retention
Merrimack College
May 20, 2014
© 2013 Eduventures, Inc.
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Enhance Brand & Market Position
•Engage with stakeholders and convey a clear, differentiated value proposition.
Build Operational Excellence
•Formulate decisions based on best practice and rigorous benchmarks about where to invest in your operations to drive outcomes.operations to drive outcomes.
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•Create a comprehensive strategy and implementation plan to drive success for the opportunities and challenges of today and the future.
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•Engage and empower campus stakeholders to develop the next big ideas, leverage technology, and drive constant improvement.
150,000+Alumni, prospective students, and parents
2,300+Leaders and practitioners in our network
400+400+Partner institutions
40+Analysts and consultants
What Makes Us Different.
Evidence
ExpertiseExpertise
Impact
Today’s Agenda
• Key Issues for Higher Education
• Generation Z
• Career Development’s Role in Recruitment
and Retentionand Retention
• Communicating Your Value
© 2013 Eduventures, Inc. 6
KEY ISSUES FOR HIGHER
EDUCATION
© 2013 Eduventures, Inc. 7
Common Themes in Strategic Plans
Increasing traditional enrollments: 91%
Fundraise for new or improved facilities: 89%
Retention: 87% (as compared to 63% last year)
Increase Diversity 87%
Technology Enhanced Learning 77%Technology Enhanced Learning 77%
Increase Graduate Enrollments 66%, Increase Number of Graduate Programs 63%
Global Approach 64%
Career Focused Program 62%
Build Stronger Alumni Connections 57%
General Education Improvements 55%
© 2013 Eduventures, Inc. 8
Key Issues Impacting Colleges & Universities
Changing Demographics Will Impact Recruitment Strategies
The Market Will Increasingly Drive More Spending on Retention
Communicating Value Needs to Go Beyond Cost to Drive Yield
1
2
Communicating Value Needs to Go Beyond Cost to Drive Yield
One-stop Shops for Student Services Will Become More
Common
Competing on Outcomes Become Even More Critical
4
5
3
The Number of High School Graduates Will Begin to
Increase Again in 2015-2016
3,300,000
3,350,000
3,400,000
3,450,000
Total Estimated and Projected High School Graduates in the
US 2009 to 2021
3,100,000
3,150,000
3,200,000
3,250,000
3,300,000
Source: Knocking at the College Door, WICHE
Middle Atlantic
East North Central
South Atlantic
West South Central
Pacific
460,000
540,000
620,000
Growth In High School Graduates Is Not Consistent
Total Estimated and Projected High School
Graduates in the US 2009 to 2021
New England
Middle Atlantic
West North Central
East South Central
Mountain
140,000
220,000
300,000
380,000
Significant Growth Significant Decline
Source: Knocking at the College Door, WICHE
The Demographic Composition of College Bound
Students Continues to Change
Insert slide with info re)
diversity of population
Source: Knocking at the College Door, WICHE
Benefit
Value =
Cost
Value =
Cost
GENERATION Z
© 2013 Eduventures, Inc. 15
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NOT BRAND LOYAL.NOT BRAND LOYAL.
FACT 1:FACT 1:
EXTREME CURATORS.EXTREME CURATORS.
FACT 2:FACT 2:
19
EXPECT TO BE ENTERTAINED.EXPECT TO BE ENTERTAINED.
FACT 3:FACT 3:
LISTEN TO PARENTS!LISTEN TO PARENTS!
FACT 4:FACT 4:
PARENTS AS PARTNERSPARENTS AS PARTNERS
29%
16%
Observers 50/50 Partners Directors
55%
CAREER DEVELOPMENT’S ROLE IN
RECRUITMENT & RETENTION
© 2013 Eduventures, Inc. 23
Key Enrollment Drivers
6.37
6.046.01
5.85
6.39
6.11
5.99
6.13
5.815.84 5.82
5.80
6.00
6.20
6.40
6.60
5.71 5.69
5.615.59
5.70
5.00
5.20
5.40
5.60
5.80
Career
preparation
Core academics Academic
environment
Affordability Social
environment
Advanced
academic
opportunities
Physical
environment
Diversity of
academic
opportunities
2013
2014
2014 College Bound Market Update - Northeast Results
Please rate the importance of the following areas in deciding which college you will attend. (1=Not at all important, and 7=Extremely important)
6.406.12 6.08 6.06
5.90 5.89 5.86 5.75
5.00
4.00
5.00
6.00
7.00
Mean
25
0.00
1.00
2.00
3.00
4.00
Career
preparation
Core
academics
Academic
environment
Affordability Advanced
academic
opportunities
Social
environment
Diversity of
academic
opportunities
Physical
environment
Flexibility of
delivery
The Parent Perspective
6.53 6.466.38
6.136.03
5.91 5.84
5.59
5.5
6.0
6.5
7.0
© 2013 Eduventures, Inc. 26
4.70
4.0
4.5
5.0
5.5
Career
preparation
Academic
environment
Core
academics
Affordability Advanced
academic
opps.
Diversity of
academic
opps.
Physical
environment
Social
environment
Flexibility of
delivery
Most Important Outcomes of College
Parents
ImportanceRank
Students
ImportanceRank
Be able to pursue a personally fulfilling career path 6.58 1 6.51 2
Gain in-depth knowledge and expertise in their
chosen major 6.43 2 6.54 1
Learn to be a responsible adult (e.g., fulfill
obligations, make sound judgments) 6.42 3 5.95 11
Develop critical thinking skills that help them analyze Develop critical thinking skills that help them analyze
and evaluate ideas 6.41 4 6.04 9
Learn to be an independent adult 6.41 5 6.05 7
Learn to communicate effectively in written and
verbal form 6.30 6 5.82 14
Have skills that will help them enter a specific
career 6.29 7 6.39 3
Be adaptable for future careers and career changes 6.26 8 6.05 8
Be able to conduct themselves in a professional
manner 6.25 9 5.91 12
Learn to apply academic concepts to real world
situations 6.24 10 6.01 10
© 2013 Eduventures, Inc. 27
COMMUNICATING YOUR VALUE
© 2013 Eduventures, Inc. 28
Benefit
Value =
Cost
Value =
Cost
Partnership Framework
Enrollment Management
Academic Affairs
Advancement
30
Affairs
Career Services
Parent Programs
4 Steps to Define and Articulate Your Value to
Key Constituents
• Identify your institution’s unique value proposition1. Identify
• Is it differentiated?
• Is a component outcomes-based?
• Does it have broad appeal?2. Test
Key Areas to Assess
�Career Services
�Academic Offerings
© 2013 Eduventures, Inc. 31
• Does it have broad appeal?2. Test
• What does your market want?
• What is working well?
• What programs need improvement?3. Assess
• Use a unified theme
• Make it simple and accessible
• Build in flexibility for segmenting4. Message
�Academic Offerings
�Experiential Learning
�Average Debt Level
�Discount Rate
�Alumni Engagement
�Parent Engagement
�Alumni Salaries
�Financial Aid Policy
QUESTIONS
© 2013 Eduventures, Inc. 32
Thank you
Heather O’Leary
Principal Analyst
© 2013 Eduventures, Inc. 33
Principal Analyst