Problem Solved. Flexible, Future-Facing, Non-Degree Education Supporting Degreed Education
Beyond the health and social implications of the pandemic, the economic dominos that fell for higher education included The Great Resignation followed by The Great Interruption. The economy in the U.S. and other parts of the world continues to be impacted by the former, as many jobs remain unfilled or where a constant churn of employees offers temporary relief, only to have the position vacated shortly after. Unemployment is relatively low with 4.5 million workers in the U.S. leaving their jobs according to the Bureau of Labor Statistics. Further compounding the problems in the economy is The Great Interruption[i] where over a million students left college or did not seek college after graduating high school. There are many theories as to why this occurred, but it will certainly reshape higher education as we know it today.
According to a number of sources, the traditional college degree market is not expected to grow. At best, it will remain flat. However, some segments will grow while others will retract. One such growth segment could be degree completion, as The Great Interruption forced many students to the sidelines. Their re-entry will be largely dependent on a more affordable and/or accessible model that carries with it stackability and greater value in the marketplace. Another growth segment could be career-changers or skill-builders (who want to increase job security) among others.
As a result, colleges and universities will need to question the true value of the degree in a new economy that is more highly automated, data-driven, diverse, multi-generational, and global in nature. Will the college degree move fast enough to adapt to the changing needs of business and industry, but most likely not involving many professions? Institutions of higher education will need to re-engineer many of their educational offerings to diversify their portfolio of products and services. This is where an unbundled or stackable credential could play a major role in addressing value and accessibility.
During the pandemic, UPCEA surveyed thousands of active students, disengaged learners and potential adult learners. This showed that their needs and impressions regarding higher education have changed. During that same time, UPCEA surveyed hundreds of colleges and universities to learn that they were depending more on online education, alternative or nondegree credentials, and other programs to offset potential lost revenues. While institutions were moving down the path of program and market diversification, a recent study by Modern Campus[ii] and UPCEA showed that units responsible for these new programs were not being resourced to appropriate levels.
The final missing link to it all was the needs and opinions of employers. A recent study[iii] of over a thousand employers conducted by UPCEA and InsideTrack and co-funded by Strada Education and the Non-Degree Credentials Research Network (NCRN) showed that most employers still rely heavily on the college degree, but many also value a short-term credential such as a certificate. More importantly, employers want more involvement and engagement with higher education. While some institutions do this well, it can be argued that beyond an occasional advisory committee, deeper involvement of employers regarding their future needs will be critical to keep advancing in a new economy.
While doing a better job of listening and engaging employers will be essential for colleges and universities in the future, they will have to also fix many of their processes to be more nimble and decisive. During the 2022 UPCEA REACH Conference, Dr. Charles Iavocou, the Founding Dean of the Wake Forest University School of Professional Studies, pointed out that the creation of this new academic school was a result of needing to respond to the market better and more quickly. In fact, Iavocou points out the need to have a rapid prototyping for online programs where in 90 days a program is researched and validated, concepted, and backwards-designed with the student in mind, as well as standardization for internal efficiency purposes.
[i] InsideHigherEd, February 28, 2022
[ii] Modern Campus and UPCEA The State of Continuing Education Report, April 2022.
[iii] https://www.insidetrack.org/resources/short-term-credentials-are-here-to-stay-but-how-do-employers-view-them/
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