Brent Colescott

Leading Innovation in Learning

A Structural Change in Higher education

As a start of a “New Year” of sorts, the beginning of Summer Vacation, I’m taking on a new challenge; to write once a week for the rest of the summer. A good friend and mentor, Perry Holley, inspired me to develop my writing skills by, yes, writing! So, stay tuned for my “Wednesday Words” as I begin to curate my thoughts in HR and Education.

In kicking off this new series, I’m compelled to write about my current dilemma as it relates to my son as he enters his Junior Year of High School this Fall. If you’re a parent, you understand how critical a year this is as it relates to College. If you’ve read my previous articles you might also understand my current state of angst as I endeavor to prepare my son for college yet continue to be critical of the very institutions he’s evaluating.

It’s a perplexing time as the forces of change are in motion as it relates to Higher Education. I can’t open Wall Street Journal without seeing yet another article about how Colleges and Universities are failing students and the business world. Just today there’s an article titled “More Universities Shut Down Traditional M.B.A. Programs as Popularity Wanes.” Funny how the byline of the article “Applications to full-time M.B.A. programs have been falling in the strong job market, leading business schools to shift resources online” aligns with my favorite quote “if you don’t like change, you’ll like irrelevance even less.”

The essence of the article is that fewer students are enrolling in the standard M.B.A. programs, while more are opting for shorter, more specialized masters and online degrees. Data shows that over the past four years interest has grown in Data Analytics Master of Science, while general M.B.A. programs (both in class and online) have declined. Traditional programs are just not meeting the needs of students, and ultimately the employers where they hope to work.

What we are seeing is a structural change happening in Higher Education. The pace of change in society and business is forcing this change, one way or another. Skills, not degrees are the modern day currency when it comes to a career. As the Talent Pool dries up with “qualified” candidates for available jobs, college graduates are not ready or skilled to fill existing vacancies.

Another article last week titled Talent War” at Home Prompts U.S. Employers to Take Another Look Abroad.”  This article hones in on the dearth of AI positions that go unfilled as one of the top needs in Corporate America for talent. Here’s the kicker: “the pace of digital growth across all industries is creating demand faster than typical education paths can create a supply of skilled workers. U.S. firms need to consider alternatives for sourcing talent, such as tech boot camps or certification programs, while looking into the feasibility of getting employees from other countries.”

The Pace of Digital Growth, that’s a phrase that will continue to gain more visibility in the coming months and years. As a Strategist and Consultant to my clients, I help advise organizations how to reimagine their talent strategies. It’s clear that HR is entering a perfect storm as it relates to the Pace of Digital Growth. Stay tuned for next week’s Wednesday Words as I dig into the HR Perfect Storm in more detail.

Which brings me back to my son and his journey. As we begin his Junior year, we plan to evaluate all options as it relates to his education. There are more resources now than ever before to support his academic preparation as well as identifying his talents and interests. My hope is that we chart a path that is developmentally tailored to his success, while being fiscally responsible.