NEW REPORT! TRANSFORMING HIGHER EDUCATION AND REIMAGINING THE WORKFORCE OF THE FUTURE FORUM

In June 2024, Mercy University hosted the “Transforming Higher Education and Reimagining the Workforce of the Future” forum. The event gathered stakeholders from various sectors, including non-profits, general business, financial services, technology, health care, and disability services.

Framing the Challenge:

Colleges and universities are experiencing significant stress, with many institutions facing closures. This situation is driven by broader economic disruptions, rapid technological advancements, and shifting demographic trends. These factors underscore the urgent need to reimagine how higher education and the business community can work together more effectively.

The Forum highlighted several key points:

Broader Economic Disruption: The rapid pace of technological advancement is reshaping industries and necessitating a workforce with new and evolving skill sets. Higher education institutions must adapt to these changes to prepare students adequately for the future landscape. Your proactive engagement helps us anticipate and address these changes, ensuring that our programs align with the labor market's needs. This proactive approach is essential for staying ahead of the curve and maintaining relevance.

Demographic Challenges: Many regions, including ours, are experiencing low unemployment coupled with a decreasing population. This situation makes it difficult for companies to find applicants with the right skills, raising concerns about the preparedness of graduates entering the workforce. Additionally, there is a growing perception that many graduates are underemployed, working in jobs that do not require a college degree. The high financial burden of higher education and uncertain return on investment are also contributing to a decline in student enrollment.

Read the report!