Higher education and students will be going through an unavoidable period of transition for the next few years as we enter the post-pandemic, newly designed future. Indeed, two years ago they all were forced to adapt to a new reality, embracing rapid changes in the way they learn, work, and play.
Higher education institutions began a rapid switch toward offering flexible program offerings where remote learning was not any longer an option but a need. Online learning environments quickly adapted to student demands and preferences. Faculty became more digital savvy, reflecting the reality that university professors in the 2020s wear multiple hats.
Amidst the many changes, many colleges are facing enrollment declines. And yet, opportunities for enrollment growth are surfacing in serving those with some college but no credentials, as well as other adults who would welcome the opportunity of earning a degree.
Experts at Education Dynamics, an industry leader in higher education market research and enrollment growth, believe that as the landscape of higher education becomes increasingly complex and competitive, the most successful schools will understand the landscape and adapt their approach accordingly. Indeed, the key to meeting enrollment and retention goals is how institutions choose to pivot.
Education Dynamics’ latest report, "Survey of the Higher Education Landscape 2022: Opportunities for Overcoming Enrollment Headwinds in 2022", dives onto external factors that impact higher education enrollment including labor market trends, the economy, and shifting perspective student behavior.
The report uncovers key areas that suggest schools have opportunities to grow enrollment and serve more students, including:
- The economic landscape and the correlation between unemployment rates and education attainment
- The effects of the Great Resignation on higher education and employment
- The top 10 employment growth areas by occupation
- The impact of the U.S. federal loan forgiveness program
- Long-term enrollment projections from 2023 to 2030
- The biggest enrollment growth opportunities now and in the future
An overlooked population of some college/no credentials students takes a front seat
Despite discussions about the value of a higher education degree, with some saying that they did not consider the investment worth the results, data shows that those with bachelor’s degrees or higher were less impacted by layoffs and unemployment. Adults with some college but no credentials are reconsidering their education and returning to earn new credentials and degrees.
There is a great potential to re-engage these students, many of whom were forced to stop their education during the pandemic due to health challenges, finances, or family commitments. Many may be aware now of the job opportunities that will be available in the near future.
The World Economic Forum anticipates that by 2025, 97 million new jobs will be created due to advances in technology and automation. According to the Education Dynamics’ report, professional degrees are anticipated to experience the most significant employment increase (13.6 percent), followed by the doctoral degree (9.1 percent).
This is confirmed by employers who expect to hire graduates from the class of 2023 to fulfill lots of job offers by next spring, as reported by the Wall Street Journal. And a Korn Ferry extensive report warns that by 2030, over 85 million jobs could go unfilled due to lack of enough skilled people to take them.
Education Dynamics’ experts expect to see program and credential offerings that take advantage of the labor market demand. They recommend institutions to monitor the labor market and student behavior in order to align their program offerings strategically as students evolve their plans.