There is little that is substantively new about today’s challenges in higher education. The current environment, wherein institutions of higher learning are grappling with myriad disruptive external global forces (including the COVID-pandemic), has simply accelerated the timeline for many highly anticipated improvements and innovations to centuries-old business models. This moment in time underscores the necessity for colleges and universities to intelligently diversify (not just proliferate) their offerings as part of a broader strategy to become more resilient to future “shocks.”
Top-line revenue strategies focused on international enrollment, dynamic pricing and enrollment growth have run their course, and the proliferation of more traditional degree programs has proven to have limited scale. To identify new revenue streams and further develop the industry’s agility in the face of future external challenges, creative leaders are seeking entry into adjacent markets that support the mission of higher education but also promise flexibility and longterm growth.
The creation of employer-supported strategic education programs is one such avenue for progress. Industry leaders like Arizona State University, City University of New York School of Professional Studies, the University of Washington and the University of Wisconsin-Madison have been first movers in this space, partnering with the likes of Aramark, Adidas, Starbucks, Prime Communications and Uber to offer innovative programs that bridge the gap between employee skill sets and evolving employer needs.
Learn more by downloading the full report, Creating opportunities for working adults. Created with Huron Consulting Group, the report covers the positive disruption playing out in higher education today, and how the value of joint ventures in employer-supported strategic education can benefit you.