1、TRENDS IN HIGHER EDUCATION20242 2024 Hanover ResearchHEDWP01243/INTRODUCTION 4/EXECUTIVE SUMMARY 5/TREND 1:INSTITUTIONS REDUCE ENROLLMENT BARRIERS FOR A CHANGING PROSPECTIVE STUDENT DEMOGRAPHIC 8/TREND 2:COLLEGES AND UNIVERSITIES STRATEGICALLY REFINE STUDENT SUPPORTS TO IMPROVE RETENTION 11/TREND 3:

2、CAMPUSES PROMOTE HIGH-RETURN ACADEMIC PROGRAMS THAT CONNECT STUDENT INTEREST WITH INDUSTRY NEEDS 14/TREND 4:INSTITUTIONS ARTICULATE THEIR VALUE TO STUDENTS AND UNDERLINE THEIR ECONOMIC IMPACT 17/TREND 5:HIGHER EDUCATION LEADERS LEAN INTO NIMBLE APPROACHES TO FINANCES AND ORGANIZATIONAL STRUCTURES20/

3、CONCLUSION21/SOURCES23/ABOUT HANOVER2024 TRENDS IN HIGHER EDUCATION 2024 Hanover ResearchHEDWP0124INTRODUCTIONThe last few years in higher education have been marked by mounting pressures and increased public scrutiny from multiple directions.Enrollment struggles,financial stressors,student support

4、needs,free speech challenges,the dismantling of affirmative action,and the rapid expansion of artificial intelligence are testing higher education leaders in unrivaled ways.Yet,over and over again,institutions are rising to the challenge and tackling these issues head-on,rather than resting on their

5、 laurels.In the midst of difficulty,were seeing a new sense of innovation emerging in 2024.Colleges and universities are improving how they communicate their value,confirming their relevancy,and delivering results in todays shifting world.Institutions are refreshing their approaches to old challenge

6、s,looking for solutions to emerging issues,and prioritizing efficiencies to reach a new level of sustainability.Hanovers 2024 Trends in Higher Education Report highlights the sectors top priorities for the year,drawn from our higher education research and experience advising and collaborating with h

7、undreds of institutions.The trends,recommendations,and case studies outlined in this report are intended to signal how institutional leaders can prepare for the landscape ahead and use practical,data-informed insights to fuel a renewed era of higher education success for institutions,students,and so

8、ciety at large.3To see last years trends,download 5 Higher Education Trends to Watch in 202324 or visit Hanovers solutions page for additional insights.DOWNLOAD NOW4 2024 Hanover ResearchHEDWP0124EXECUTIVE SUMMARYHanover is privileged to partner closely with nearly 500 colleges and universities glob

9、ally who serve a wide range of demographics and communities.Our work allows us to understand a range of perspectives and learn from the diverse experiences of our members.In supporting our members challenges and solutions,we have developed the 2024 Trends in Higher Education Report to illuminate the

10、 primary trends that we believe will shape higher education in the coming year.HERE ARE FIVE TRENDS THAT WILL SHAPE HIGHER EDUCATION IN 2024TREND 1:Institutions Reduce Enrollment Barriers for a Changing Prospective Student DemographicWhat students need and expect from colleges and universities today

11、 is different than in previous decades.As such,institutions are focused on improving college access for both traditional and non-traditional students to meet more students where they are.TREND 2:Colleges and Universities Strategically Refine Student Supports to Improve Retention As student needs dee

12、pen and enrollments fluctuate,institutions are taking decisive,data-driven steps to help enrolled students persist and succeed with a wider array of academic,financial,and personal support.TREND 3:Campuses Promote High-Return Academic Programs that Connect Student Interest with Industry NeedsIn an e

13、ver more competitive environment,higher education institutions are gaining students attention by connecting their interests to degrees and certificates that can promise a strong return on investment.TREND 4:Institutions Articulate Their Value to Students and Underline Their Economic Impact As public

14、 sentiment on higher education shifts and legislation tightens,colleges and universities are tasked with not only differentiating themselves for prospective students,but also clarifying their purpose and value in the larger community.TREND 5:Higher Education Leaders Lean into Nimble Approaches to Fi

15、nances and Organizational StructuresTo adjust to new fiscal realities,institutions are nimbly leaning into innovation and change to achieve long-term institutional sustainability and success.5 2024 Hanover ResearchHEDWP0124TREND 1:INSTITUTIONS REDUCE ENROLLMENT BARRIERS FOR A CHANGING PROSPECTIVE ST

16、UDENT DEMOGRAPHICWhat students need and expect from colleges and universities today is different than in previous decades.As such,institutions are focused on improving college access for both traditional and non-traditional students to meet more students where they are.6 2024 Hanover ResearchHEDWP01

17、24TREND 1:INSTITUTIONS REDUCE ENROLLMENT BARRIERS FOR A CHANGING PROSPECTIVE STUDENT DEMOGRAPHICSources:McGraw-Hill,ACT,Hanover Research,National Student Clearinghouse Research CenterThe number of consecutive years ACT exam score averages have declined6 6 YEARS The number of students who say theyre

18、struggling academically because of pandemic-related learning loss,with Black students(29%)and men(29%)most likely to report being impacted 1 in 5The percentage of high school juniors and seniors with doubts about attending college who say its because theyre unsure of how to apply or enroll32%The dro

19、p in first-year enrollment in fall 2023,compared to 2022-3.6%PROSPECTIVE STUDENT CONCERNSWhile the cost of higher education continues to serve as the chief barrier to prospective student enrollment,other factors,such as a declining belief in students own academic and personal readiness prevent some

20、students from attending.Many prospective students who attended high school during the COVID-19 pandemic demonstrate increased apprehension about their ability to succeed in higher education than previous cohorts.In fact,many high school juniors and seniors report not knowing how to begin exploring c

21、ollege and that theyre unsure if they would be accepted.SHIFTING ADMISSION POLICIESIn the face of affordability concerns and students who feel less academically prepared or inclined to begin college,institutions are adapting their practices to open their doors for different demographics of prospecti

22、ve students.Many colleges and universities continue to reevaluate their policies and procedures to identify effective ways to reduce enrollment friction,including:Direct admissions Test-optional policies Tuition resets or adjustments Fee discounts or waivers Expansion of dual enrollment and credit-f

23、or-prior-learning pathwaysDATA-INFORMED STRATEGIC ENROLLMENT MANAGEMENT Reducing and removing student barriers to admission and enrollment requires a strategic approach informed by data.Strategic Enrollment Management(SEM)has been practiced in higher education for more than 20 years,but to increase

24、their reach and yield,institutions must continually leverage new approaches and reevaluate their SEM plans every three to five years.To increase student inquiries and applications,many institutions should study enrollment patterns and harness tactics such as predictive modeling and geotargeting base

25、d on demographic trends.SEM-related research should rely on both quantitative and qualitative methods to identify trends,provide context,and uncover student struggles unknown to the institution.7 2024 Hanover ResearchHEDWP0124TREND 1:INSTITUTIONS REDUCE ENROLLMENT BARRIERS FOR A CHANGING PROSPECTIVE

26、 STUDENT DEMOGRAPHICTREND 1:INSTITUTIONS REDUCE ENROLLMENT BARRIERS FOR A CHANGING PROSPECTIVE STUDENT DEMOGRAPHICThree schools at Case Western Reserve University the School of Law,the Weatherhead School of Management,and the School of Engineering were interested in strengthening their post-pandemic

27、 international student enrollments.Specifically,they wanted to understand in which countries to invest their student recruitment efforts,considering key factors such as study abroad rates,income levels,and the political landscape.Looking to identify target markets that met the needs and priorities o

28、f all three schools,they partnered with Hanover in 2023 to pinpoint how to increase international enrollment across their law,management,and engineering programs.Hanover began with a broad approach to conduct a global market scan,followed by a robust process to identify prime target recruitment coun

29、tries for each school.Together,these projects will not only extend the market research capacity of three distinct schools with diverse priorities,but also yield the data their leaders need to make decisions that will grow their shares of international students.SPOTLIGHT:Case Western Reserve Universi

30、tyTAKE ACTIONTo bolster your institutions ability to use data to increase access for prospective students,consider the following recommendations:yKnow your institutions current enrollment trends before setting ideal enrollment targets.yInvestigate key metrics from the last decade,including number of

31、 applications,admissions,enrollments,enrollments by major,prospective student demographics,and geographic market data.ySurvey prospective,admitted,and stop-out students regularly to learn more about their needs,barriers,and perceptions.yImplement high-touch recruitment activities geared to targeted

32、student populations and program-area interests.yUse a variety of in-person and online approaches to connect prospective students to peers or faculty who can speak to overcoming enrollment or success barriers.yStrengthen relationships with community organizations and schools in your recruiting areas

33、to engage with more students and families who may not otherwise consider your institution.RELATED READING yDrive Enrollment with Cross-Departmental Collaboration,a guide to increasing collaboration and communication across institutional units to support enrollment growth y2023 National Prospective S

34、tudent Survey,a report providing important insights into high school juniors and seniors preferences,expectations,and barriers to college entry yA Tactical Guide to Graduate Student Recruitment,a blog resource with tips to reach and enroll more graduate students y2023 National Admitted Student Surve

35、y,a report analyzing student perceptions and preferences once they have been accepted to an institution8 2024 Hanover ResearchHEDWP0124TREND 2:COLLEGES AND UNIVERSITIES STRATEGICALLY REFINE STUDENT SUPPORTS TO IMPROVE RETENTION As student needs deepen and enrollments fluctuate,institutions are takin

36、g decisive,data-driven steps to help enrolled students persist and succeed with a wider array of academic,financial,and personal support.9 2024 Hanover ResearchHEDWP0124TREND 2:COLLEGES AND UNIVERSITIES STRATEGICALLY REFINE STUDENT SUPPORTS TO IMPROVE RETENTIONSources:National Student Clearinghouse

37、Research Center,National Student Clearinghouse Research Center,Higher Ed DiveINCREASED DEMAND FOR STUDENT SUPPORTOverall retention rates in the U.S.have resumed pre-pandemic levels,yet disparities by race,age,and gender persist.And while overall undergraduate enrollment rose slightly in fall 2023,fe

38、wer first-year students enrolled.Coupled with the forecasted enrollment cliff of 2025,some institutions are starting to see signs of a shrinking recruitment pool.Together,these patterns reinforce the need for institutions to put resources toward supporting current students to help them stay enrolled

39、.At the same time,more students need academic,financial,and personal assistance to persist in their studies.Meeting this demand means campuses must provide a greater diversity of interventions and success initiatives,including resources to address mental health,food insecurity,housing,transportation

40、,and career preparedness(such as mentoring,paid internships,learning communities,and leadership opportunities).INNOVATIONS IN STUDENT RETENTIONMany campuses that are prioritizing retention efforts in 2024 are adopting strategic retention plans that establish clear goals and key performance indicator

41、s to monitor retention and completion data,both for traditional and adult student populations.Students who may be most at risk of stopping out include first-year students,first-generation college students,low-income students,transfer students,and students of color.In addition,students who feel littl

42、e sense of connectedness to an institution and those with less academic integration or lower academic efficacy are at greater risk.Designing targeted services around the needs of these populations will make the most difference in retention efforts(including interventions such as peer cohorts,mentori

43、ng,orientations,advising,and learning communities).Notably,institutions facing political resistance or legislative bans related to DEI initiatives in some states are also pivoting to focus on student support and success programming to close opportunity gaps and increase belonging for historically ma

44、rginalized student populations.The percentage of stop-out students who re-enrolled in 2022,down from 2.4%in 2021 2.1%The average completion rate for traditional-aged college students in the U.S.in 2023,compared to 64%the year prior and compared to 52%of students over 24 years old63.8%The number of c

45、ollege seniors who report burnout during their undergraduate experience 4 in 5Learn how institutions are using data to reduce student attrition.Watch our prerecorded webinar,Using Data to Prevent and Recover Stop-out College Students.WATCH NOW10 2024 Hanover ResearchHEDWP0124TREND 2:COLLEGES AND UNI

46、VERSITIES STRATEGICALLY REFINE STUDENT SUPPORTS TO IMPROVE RETENTIONSPOTLIGHT:Coppin State University TAKE ACTIONTo accelerate student retention and prevent attrition,institutions should note the following best practices:yForm an institution-wide retention taskforce to assess existing services and i

47、nterventions,establish a strategic retention plan,and monitor performance indicators.Successful strategies often include implementing mandatory advising check points or courses and early-warning systems or best practices.yAnalyze student success and retention data to understand student-level charact

48、eristics and behaviors driving year-to-year student retention and on-time graduation using predictive modeling.yBenchmark support services at peer institutions to understand how your institutions services compare to competitors and identify potential areas for improvement.yConduct regular campus cli

49、mate surveys to identify student concerns and help identify student support needs or improvements.yIncrease student awareness of support services to reduce underutilization,as students are often not aware of what resources are available or dont know how to access them.RELATED READING y5 Student Rete

50、ntion Strategies Infographic,a resource with insights into prime areas of student attrition and how to lower rates of drop-out or stop-out y2023 Higher Education Diversity,Equity,and Inclusion Survey,a report on national survey findings of student perspectives on diversity,equity,inclusion,and belon

51、ging yStudent Belonging:The Next DEI Frontier in Higher Education,a blog with tips for building a sense of belonging in addition to the values of diversity,equity,and inclusionThe leaders at Coppin State University in Maryland wanted to improve the institutions student recruitment and retention rate

52、s.They undertook a variety of focused efforts,including:A campuswide retention dashboard to allow staff to view head counts,graduation counts,and retention rates,filterable by degree and demographic information A centralized support hub for students known as the Eagle Achievement Center New academic

53、 programming In-state tuition rates for residents of more than 35 U.S.states and territories A re-engagement campaign for students who left the institution within the last five years A national brand awareness marketing campaign Together,these strategies led to an increase in the retention of first-

54、year students into their second year(from 66%in 2017 to 74%in 2023).Additionally,the“Reimagine Yourself at Coppin”re-engagement campaign is credited with re-enrolling 114 former students in fall 2023.yFoster a campus culture that normalizes getting help,educates students about what various services

55、can do for them,and encourages participation in accessible,flexible,culturally responsive programming.11 2024 Hanover ResearchHEDWP0124TREND 3:CAMPUSES PROMOTE HIGH-RETURN ACADEMIC PROGRAMS THAT CONNECT STUDENT INTEREST WITH INDUSTRY NEEDSIn an ever more competitive environment,higher education inst

56、itutions are gaining students attention by connecting their interests to degrees and certificates that can promise a strong return on investment.12 2024 Hanover ResearchHEDWP0124TRACKING STUDENT INTERESTS Todays college students are increasingly concerned about connecting their education to a career

57、 and want to be assured of a favorable return on their college investment.Yet at the same time,young Gen Z adults are generally employed less than their counterparts from older generations,meaning they may be relying more on higher education to deliver career preparation experiences or skills that w

58、ill translate directly into professional opportunities.However,students arent always aware of which majors connect to various career outcomes or which jobs will be in demand by the time they enter the workforce.Additionally,a post-pandemic demand for flexible course delivery options persists,with 54

59、%of all college students taking some or all courses online in 2022.CONNECTING STUDENT DEMAND TO CAREER GUIDANCETo recruit more students,institutions in 2024 are more closely watching and measuring students program interests through surveys,institutional data tracking,and analyzing search engine tren

60、ds.Campus units are also working together to strengthen student career guidance and better articulate how interests can be turned into tangible career outcomes.Some of these activities include:Revamped career advising,such as embedded coaches or learning communities within academic programs Increase

61、d staffing and budgets in career services areas Accelerated program pathways to bundle credentials that advance career preparation Experiential learning and research opportunities at the undergraduate level Mentoring and networking opportunities with employers and alumni Enhanced partnerships with t

62、op local and regional employersDATA-INFORMED ACADEMIC PORTFOLIO REVIEWIncreasingly,higher education institutions are integrating labor market,employment,wage,and alumni data into the academic program planning process.Most commonly,institutions use labor market data to determine a new programs feasib

63、ility,align existing programs to market demands,understand program outcomes,and form employer partnerships.Regular cycles of academic program portfolio reviews will help institutional leaders consistently track key metrics and assess both student demand and labor forecasts,ensuring program curricula

64、 align with employer demand and that graduates are prepared to succeed in the workforce.TREND 3:CAMPUSES PROMOTE HIGH-RETURN ACADEMIC PROGRAMS THAT CONNECT STUDENT INTEREST WITH INDUSTRY NEEDSThe percentage of college students who are unsure what skills-based learning opportunities exist at their in

65、stitution,compared to 6%of faculty 19%The number of employers who had difficulty in finding the skilled talent they needed in 20234 in 5 The percentage of companies that plan to eliminate bachelors degree requirements for some positions in 202445%Get real-time insights on student academic interests

66、with our Program Search Trends Dashboard.Sources:Coursera,Intelligent,InstructureLEARN MORE13 2024 Hanover ResearchHEDWP0124TREND 3:CAMPUSES PROMOTE HIGH-RETURN ACADEMIC PROGRAMS THAT CONNECT STUDENT INTEREST WITH INDUSTRY NEEDSMonroe Community College in New York uses Department of Labor data,U.S.C

67、ensus Bureau data,feedback from industry advisory boards,and survey responses from recent graduates when evaluating the viability of its career and technical education programs.The college considers this data to assess not only whether its programs are preparing students for available jobs but also

68、whether those jobs will offer opportunities for advancement.For example,Monroe recently closed its massage therapy program because labor market data revealed that there were not enough jobs for graduates to support the continuation of the program.However,in January 2024,it launched a phlebotomy tech

69、nician microcredential to keep pace with a regional need for skilled phlebotomists.SPOTLIGHT:Monroe Community CollegeTAKE ACTIONTo maximize career success for students and alumni,institutions should consider the following:yImplement an academic portfolio review process that includes relevant labor d

70、ata from credible sources such as federal agencies,professional associations,employers,job posting databases,and institutional surveys or interviews.yPartner with employers in the program planning process or establish advisory boards to ensure offerings are relevant and to open up experiential learn

71、ing opportunities for students.yInvestigate program search engine trends to gauge real-time interests based on monthly keyword volume.These insights can identify new program opportunities or be incorporated into strategic enrollment management planning.yPrioritize new programs that have award gaps,w

72、hich represent the difference between the number of completed degrees and certificates and the regional employer demand.This data can help to identify underserved professions in which there arent enough graduates to fill empty positions.yEmphasize prospective student messaging that demonstrates the

73、concrete value of higher education such as higher lifetime earnings,job forecasts,and alumni employment data.Particularly in liberal arts disciplines,explain what soft skills students will learn that are in demand by employers.RELATED READING yStep-by-Step Guide to Academic Portfolio Review,a resour

74、ce with tips to measure the value and cohesion of program offerings yTop 10 Degrees on the Rise in 2023,an infographic of trending academic programs with tips to help institutions keep pace with student interest and employer demand yTop Career Skills for New Grads in 2023,a resource to strengthen st

75、udents career readiness as they begin to enter the workforce y4 Critical Strategies for Matching Academic Programs to Student Demand,a blog article featuring takeaways to help align your institutions programming with student demand yAligning Two-and Four-Year Institutions to Meet Workforce Needs,a p

76、rerecorded webinar with panelists sharing successful models to strengthen career-connected learning14 2024 Hanover ResearchHEDWP0124TREND 4:INSTITUTIONS ARTICULATE THEIR VALUE TO STUDENTS AND UNDERLINE THEIR ECONOMIC IMPACTAs public sentiment on higher education shifts and legislation tightens,colle

77、ges and universities are tasked with not only differentiating themselves for prospective students,but also clarifying their purpose and value in the larger community.15 2024 Hanover ResearchHEDWP0124TREND 4:INSTITUTIONS ARTICULATE THEIR VALUE TO STUDENTS AND UNDERLINE THEIR ECONOMIC IMPACTTREND 4:IN

78、STITUTIONS ARTICULATE THEIR VALUE TO STUDENTS AND UNDERLINE THEIR ECONOMIC IMPACTSources:Public Agenda,Chronicle of Higher Education,Chronicle of Higher Education,AAC&UThe percentage of Americans who believe colleges are“stuck in the past”and dont meet current needs66%COMMUNICATING BRAND VALUE WITH

79、DATA Most Americans agree today that a higher education degree still holds value,but many are questioning if the return outweighs the investment.Others are skeptical about how much society benefits from higher education.While institutional reputation is often discussed in relation to national or int

80、ernational rankings,a college or universitys overall reputation derives from its relationships with the community it serves.As a result,institutional leaders are emphasizing higher educations positive impact on students and society at large in their brand messaging and marketing efforts.But deliveri

81、ng authentic brand value requires it to be backed by quantifiable data and demonstrable results.This involves critically evaluating strengths and weaknesses,establishing measurable goals,making data-driven decisions,and effectively sharing the results with constituents.IMPORTANCE OF COMMUNITY ENGAGE

82、MENTTo bolster a more positive public reputation,institutions are also increasing community partnerships,engaging in legislative advocacy,and emphasizing the shared values between their campuses and the communities they serve.Institutional partnerships are most effective when they are ongoing and mu

83、tually beneficial,such as collaborations with relevant educational organizations,research facilities,industries,and nonprofits.QUANTIFYING ECONOMIC IMPACTWhile an overwhelming majority of students and employers still believe higher education is worth the time and cost,more institutions in 2024 are u

84、sing economic impact studies not only to bolster their public reputation or anchor fundraising efforts,but also to push back against diminishing state budget allocations and legislation that limits their autonomy.Economic impact studies typically rely on an input-output model to estimate the economi

85、c contributions of an institution to a state or region,including factors such as operating and capital expenses,workforce contributions,alumni earnings,community engagement,and business development.8 in 10 The number of employers who agree that higher education prepares graduates to succeed in the w

86、orkforceThe percentage of Americans who think colleges and universities provide a great deal of benefit to society overall14%The percentage of Americans who say state governments should have a good or great deal of influence over whats taught in college 37%16 2024 Hanover ResearchHEDWP0124TAKE ACTIO

87、NTake a more data-and research-informed approach to increasing your institutions reputation with these best practices:yRoutinely reexamine your institutions brand promise and revisit these questions to maintain internal clarity and consensus:What does our institution want to be known for?What are ou

88、r target audiences looking for?How do we match up those ideas and express them as a coherent concept?yInclude community partnership goals in campus-wide and unit-specific strategic plans,with key metrics to evaluate initiatives.yUse surveys,interviews,and evaluations to track engagement feedback.yTo

89、 begin planning for an economic impact study,first consider your institutional priorities and align the primary message,intended audiences,and key measures of analysis to those priorities.Determine the geographic scope by asking:Is there a strong preference for a particular area of analysis?RELATED

90、READING yHigher Education Brand Health 101 Guide,a resource for monitoring and revitalizing your institutions brand y4 Ways to Measure Marketing Effectiveness in Higher Education,a guide to improving your marketing strategy by assessing key metrics related to brand value,audience,messaging,and chann

91、els yHigher Ed Branding:3 Tips to Bolster Your Institutions Messaging,our blog providing tips to enhance branded messaging that resonates with students yBuilding a Cohesive Brand Identity Across the University,a prerecorded webinar featuring tips to strengthen your brand across institutional units T

92、REND 4:INSTITUTIONS ARTICULATE THEIR VALUE TO STUDENTS AND UNDERLINE THEIR ECONOMIC IMPACTThe University of Calgarys leaders were interested in gaining a current understanding of the economic,employment,and entrepreneurial contributions the university generates in the province of Alberta,Canada.To d

93、o so,they partnered with Hanover Research on an economic impact study.Through a dual analysis of demand-side spending and supply-side outcomes,the study findings showed the university had a quantifiable annual economic impact of$16.5 billion including:$3.2 Billion in Demand-Side Contributions:The es

94、timated effect of UCalgarys spending on Alberta,both in the universitys initial spending (the direct effect)and the additional economic activity triggered by that initial spending(indirect and induced effects).$13.3 Billion in Supply-Side Contributions:The estimated impact of UCalgarys academic,alum

95、ni,community engagement,and research activities on provincial businesses and communities.While these estimates dont fully account for the total economic activity generated by its research facilities,alumni,or strategic initiatives,the study confirms the many ways that UCalgary delivers significant b

96、enefits to the people of Alberta.SPOTLIGHT:University of Calgary17 2024 Hanover ResearchHEDWP0124TREND 5:HIGHER EDUCATION LEADERS LEAN INTO NIMBLE APPROACHES TO FINANCES AND ORGANIZATIONAL STRUCTURESTo adjust to new fiscal realities,institutions are nimbly leaning into innovation and change to achie

97、ve long-term institutional sustainability and success.18 2024 Hanover ResearchHEDWP0124MITIGATING RISING COSTSLike other industries,higher education is facing rising inflation and increased economic pressures.Against a backdrop of ongoing enrollment declines and campus climate tensions,some institut

98、ions are facing steep financial pressures that require substantive changes to budgets,staffing,or organizational structures to bring revenue in line with growing expenses.ORGANIZATIONAL CHANGES AFFECT MORALEWith some institutions considering budget reductions,layoffs,reorganizations,and mergers in 2

99、024,leaders must keep in mind the considerable burdens those actions can bring to a campus,affecting student and employee morale and straining relationships with the administration.Engaging in any organizational rightsizing or restructuring must be done only when longer-term enrollment or financial

100、trends are unlikely to improve.To minimize harm to the campus climate,leaders should carefully weigh the risks and build a transparent process with sufficient time to engage multiple voices.NEW REVENUE SOURCESAs an alternative to reducing expenditures,higher education leaders also continue to seek o

101、ut new revenue-generating activities to remain competitive.Non-credit offerings such as microcredentials and professional education continue to be popular options.Additionally,grants can provide significant avenues to new funding opportunities for institutions if the right training and support is pr

102、ovided.Some institutions also find success with other auxiliary opportunities such as commercial services,facility rentals,private-public partnerships,outdoor recreation,summer programs,and product sales.Institutions should explore and evaluate a variety of alternative revenue possibilities to deter

103、mine appropriate fit and feasibility.When assessing ideas,consider factors such as profitability,mission fit,initial capital requirements,administrative load,and complexity.TREND 5:HIGHER EDUCATION LEADERS LEAN INTO NIMBLE APPROACHES TO FINANCES AND ORGANIZATIONAL STRUCTURESSources:Inside Higher Edu

104、cation,Commonfund Institute,National Center for Education StatisticsThe percentage of college and university presidents who are confident that their institution will be financially stable over the next five years,up slightly from 202283%The number of U.S.colleges and universities that closed in 2015

105、2021The percentage increase in costs for colleges and universities in fiscal year 2023,compared to 5.2%in 2022 and 2.7%in 20214%585Get inspired by other institutions strategies for nurturing a culture of collaboration with our prerecorded webinar,Optimizing Cross-Departmental Collaboration.WATCH NOW

106、19 2024 Hanover ResearchHEDWP0124TREND 5:HIGHER EDUCATION LEADERS LEAN INTO NIMBLE APPROACHES TO FINANCES AND ORGANIZATIONAL STRUCTURESBismarck State College(BSC)in North Dakota reports having two bottom lines:a mission bottom line focused on student success and a fiscal bottom line that calls for p

107、rudent financial management.The college adopted a 20222027 strategic plan that focuses on student success,linking talent with opportunity,fiscal stability,and communication.In addition to having a streamlined administrative structure compared to other institutions of its size,BSC aims to strategical

108、ly improve its fiscal stability through five objectives:Increase credit hour and headcount enrollment Maintain a Composite Financial Index(CFI)of 1.1 or higher Improve fiscal efficiency via lowered unit cost and improved program vitality Increase grants and investments via public and private partner

109、ships Optimize student affordability while maintaining campus financial health According to President Douglas J.Jensen,“As weve learned through the pandemic,colleges need to remain student-centric and become increasingly nimble.Students are changing,and institutions must change with them.”SPOTLIGHT:

110、Bismarck State CollegeTAKE ACTIONTo build institutions long-term financial and organizational health,look for solutions including:yEstablish a task force or working group to conduct an audit to identify institutional strengths,resources,and underutilized facilities that could potentially be leverage

111、d to bring in new revenue.The group can make recommendations to create additional revenue opportunities or optimize existing programs or practices.yIf an institution is considering rightsizing or reorganizing,gathering input from the campus community is paramount.Convene a working group as early as

112、possible to discuss the need for action and develop a collaborative plan.Aim to first evaluate administrative salaries,review personnel redundancies,and audit administrative functioning for value-added opportunities.yWhen possible,incorporate organizational restructuring needs into the strategic pla

113、nning process to maximize buy-in from faculty and staff and allow for restructuring efforts to be defined as a shared responsibility.RELATED READING y6 Alternative Budget Models for Colleges and Universities,a guide to the benefits and drawbacks of the six most common institutional budget models y4

114、Ways to Support Faculty-Led Higher Education Grants,a guide to increasing campus grantseeking capacity y5 Trends Driving University Fundraising,a blog with insights into donor perspectives and how to strengthen alumni giving yBest Practices in Administrative Structures(member-only access),a research

115、 brief outlining approaches to organizational structures and current restructuring best practices yBest Practices-Diversifying and Generating Revenue(member-only access),a research brief with recommendations for exploring new revenue streams 20 2024 Hanover ResearchHEDWP0124Although higher education

116、 institutions face both emerging and long-time struggles,they are meeting the moment with a renewed sense of tenacity and an eye toward longevity.Were seeing colleges and universities forge fresh paths in 2024 to reduce student enrollment barriers,deliver stronger support to retain students,enhance

117、the quality and relevance of academic offerings,illuminate their impressive economic impact,and rebalance their operations with agility.Together,these trends signal a stronger outlook for higher education to capitalize on pivotal opportunities in the coming year.Indeed,institutions that focus on res

118、ults will be the ones that find ways to successfully weather oncoming storms and emerge stronger on the other side,particularly if they reinforce their decisions with sound data and research.How will your institution build resiliency now to prepare for the future?Find out how Hanover Research can he

119、lp you make future-focused decisions with tailored research and data analysis.CONCLUSIONLEARN MORE21 2024 Hanover ResearchHEDWP0124SOURCESTREND 1:“Fewer High School Seniors Ready for College as ACT Scores Continue to Decline.”ACT,October 10,2023.https:/leadershipblog.act.org/2023/10/act-scores-decli

120、ne.html Knox,L.“Is Gen P Ready for College?”Inside Higher Ed,October 23,2023.https:/ Knox,L.“A Disruptive Year in Admissions.”Inside Higher Ed,December 18,2023.https:/ Burke,L.“Why More Colleges Are Adopting Direct Admissions.”Higher Ed Dive,December 11,2023.https:/ App Expands Direct Admissions,Inc

121、luding Partnering Connecticut.”Higher Ed Dive,November 2,2023.https:/ Colleges Are Resetting Tuition.Does the Strategy Work?”Higher Ed Dive,October 9,2023.https:/ National Prospective Student Survey.”Hanover Research,October 2023.https:/ and Preferences of Gen Z and Gen Alpha.”Hanover Research,Novem

122、ber 2023.https:/hanoverresearch.my.salesforce- “Prospective Student Views on Higher Education ROI.”Hanover Research,January 2023.https:/hanoverresearch.my.salesforce- Practices in Enrollment Management Plans.”Hanover Research,March 2023.https:/3409306.fs1.hubspotusercontent- Scan:Trends in Admission

123、s Strategies.”Hanover Research,September 2023.https:/hanoverresearch.my.salesforce- Spending Benchmarking Analysis.”Hanover Research,November 2023.https:/3409306.fs1.hubspotusercontent- 2:“Shiel,J.“High School Students Education Goals and Opinions of Postsecondary Education.”ACT Research,November 20

124、23.https:/www.act.org/content/dam/act/unsecured/documents/R2313-High-School-Students-Education-Goals-and-Postsecondary-Education-Opinions-11-2023.pdf Savenije,D.“How Universities Are Driving Student Success.”Higher Ed Dive,2023.https:/ Student Persistence Rate Rises for the First Time Since the Star

125、t of the Pandemic.”National Student Clearinghouse,July 31,2023.https:/www.studentclearinghouse.org/nscblog/college-student-persistence-rate-rises-for-the-first-time-since-the-start-of-the-pandemic/Donadel,A.“Your Support Services Are Vital to Student Belonging.Heres Whats Getting in the Their Way.”U

126、niversity Business,September 18,2023.https:/ Needs Funding Can Boost Student Persistence,Report Suggests.”Higher Ed Dive,November 27,2023.https:/ Practices in Strategic Retention Plans.”Hanover Research,May 2023.https:/hanoverresearch.my.salesforce- Practices in Interventions for At-Risk Students.”H

127、anover Research,June 2023.https:/hanoverresearch.my.salesforce- “Best Practices for Recovering Stopped-Out Students.”Hanover Research,May 2022.https:/hanoverresearch.my.salesforce- Strategies for Enrolling Stopped-Out Students and Non-Degree Student.”Hanover Research,October 2023.https:/hanoverresea

128、rch.my.salesforce- Practices in First-Generation and Low-Income Student Engagement.”Hanover Research,September 2023.https:/hanoverresearch.my.salesforce- Practices:Increasing Engagement with Student Services.”Hanover Research,November 2023.https:/hanoverresearch.my.salesforce- 2024 Hanover ResearchH

129、EDWP0124TREND 3:“2023 State of Student Success and Engagement in Higher Education.”Instructure,2023.https:/ for What?”Gallup,2023.https:/ Spitalniak,L.“Enrollment Hinges on Programs Aligning with Student Interests.”Higher Ed Dive,October 20,2023.https:/ Used these 3 Strategies to Spark Big Enrollmen

130、t Rebounds this Fall.”University Business,September 11,2023.https:/ Leaders Refocus Attention on Their Students Top Priority:Jobs after Graduation.”The Hechinger Report,November 24,2023.https:/hechingerreport.org/college-leaders-refocus-attention-on-their-students-top-priority-jobs-after-graduation/

131、Marcus,J.“Colleges Refocus on Career Services as Students Seek Return on Degrees.”The Washington Post,November 24,2023.https:/ Labor Market Data in Academic Program Planning.”Hanover Research,October 2023.https:/hanoverresearch.my.salesforce- Award Gaps for Academic Program Development.”Hanover Rese

132、arch,August 2023.https:/hanoverresearch.my.salesforce- TREND 4:“Alonso,J.“Measuring Higher Eds Benefits Beyond Earnings.”Inside Higher Ed,August 30,2023.https:/ Kelderman,E.“What the Public Really Thinks About Higher Education.”The Chronical of Higher Education,September 5,2023.https:/ Ngyuyen,S.,Fi

133、shman,R.,Cheche,O.“Varying Degrees 2023:Seventh Annual Survey on Higher Education.”New America,August 2023.https:/www.newamerica.org/education-policy/reports/varying-degrees-2023/OLeary,B.“Who Should Shape What Colleges Teach?”The Chronical of Higher Education,September 13,2023.https:/ Parilla,J.,Ha

134、skins,G.“How Research Universities Are Evolving to Strengthen Regional Economics.”Brookings,February 9,2023.https:/www.brookings.edu/articles/how-research-universities-are-evolving-to-strengthen-regional-economies/“Benchmarking Strategic External Partnerships.”Hanover Research,April 2022.https:/hano

135、verresearch.my.salesforce- to Enhance University Reputation.”Hanover Research,September 2017 https:/hanoverresearch.my.salesforce- “Best Practices in Improving Reputation and Brand Recognition in Higher Education.”Hanover Research,January 2015.https:/hanoverresearch.my.salesforce- and World Report:2

136、024 Best Colleges Rankings Review.”Hanover Research,October 2023.https:/hanoverresearch.my.salesforce- Valero,A.,Van Reenen,J.“The Economic Impact of Universities:Evidence from Across the Globe.”Economics of Education Review,February 2019.https:/ Engagement Framework:Economic Impact Guidelines.”APLU

137、/AAU,December 2014.https:/www.aau.edu/sites/default/files/AAU%20Files/Key%20Issues/Research%20Administration%20%26%20Regulation/AAU-APLU-Economic-Impact-Guidelines.pdf TREND 5:“More U.S.Higher Ed Consolidation Trimming or Closures to Come.”Fitch Ratings,September 20,2023.https:/ Querolo,N.,Moran,D.,

138、Patino,M.“The Economics of Small US Colleges Are Faltering.”B,December 13,2023.https:/ Practices in Administrative Structures.”Hanover Research,March 2023.https:/3409306.fs1.hubspotusercontent- Practices in Institutional Rightsizing.”Hanover Research,June 2023.https:/hanoverresearch.my.salesforce- R

139、evenue Generating Strategies.”Hanover Research,May 2023.https:/hanoverresearch.my.salesforce- Practices:Diversifying and Generating Revenue.”Hanover Research,July 2023.https:/hanoverresearch.my.salesforce- Lederman,D.“Hopeful Despite Headwinds:A Survey of Presidents.”Inside Higher Ed,April 11,2023.h

140、ttps:/ Kington,R.S.“Presidents Dont Talk About their Panic Attacks.”The Chronical of Higher Education,December 4,2023.https:/ 2024 Hanover ResearchHEDWP0124Our insights help institutions strengthen their academic portfolio,maximize enrollment and retention,manage costs,improve brand perception,and e

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