Higher Education and the New Workforce: An Inside Look

Today’s job market is changing. 

This isn’t a hot take. Or even a particularly new one. As long as there’s been a job market, there have been discussions about how it was evolving. The difference in our current era is how quickly those changes come now, driven in large part by world events (*cough* pandemic *cough*) and the rapid churn of technology innovations. So if you’re part of a higher education institution, trying to guide the next generation of workers, how do you keep up? How do you make sure you’re preparing your students well? 

Let’s break this down into three parts: the current trends affecting employment, the key skills that employers are wanting to find in new hires, and what you can implement at your school to stay on track. 

There’s a gap between higher education and marketplace needs. According to a Gallup poll, over 95% of chief academic officers said their institution was “very or somewhat” effective at readying their students for the working world. But that confidence doesn’t carry over, with only 11% of business leaders agreeing that college graduates have the skills that their workplace needs. 

Gen Z is being nicknamed the “Toolbelt Generation.” In fact, just a few short months ago, The Wall Street Journal had a whole article recognizing the trend in this generation gravitating toward skilled trades instead of traditional college studies. So-called “blue collar” jobs are shedding old stereotypes and proving very attractive due to lower costs of training, rising pay opportunities, and steadier job security prospects. 

AI is here to stay, one way or another. Which can be tricky because, depending on who you’re talking to, AI is usually characterized as a technology savior or an evil boogeyman that will destroy everyone’s jobs. The fact is that neither of these extremes are accurate. AI, including generative AI, is a tool that a lot of employees will have to learn to work with and utilize in order to stay competitive, but it’s not going to obliterate the economy, Skynet-style. 

Skills-based hiring is overtaking degree requirements. It used to be that your degree was everything, and the right degree from the right school was a golden employment ticket. But that “paper ceiling” is starting to fall apart. Major companies are removing degree requirements in favor of prioritizing skills, certifications, and practical experience. 

• Resilience and curiosity: All those changes can be really disorienting, and if you let them rattle you, you’re going to fall behind. Today’s graduates need to keep an open mind, be ready to embrace continuous learning opportunities, and consistently build on their old skills and train on new ones. 
• Critical thinking and problem-solving: No matter what your career field is, you’re going to need to be able to ask questions, assess situations on your own, and think outside the box in order to come up with solutions. This is more important than ever in an age where data is a major currency in today’s economy. 
• Digital and technical literacy: Even the most down-in-the-dirt, hands-on job intersects with technology and the digital world in some capacity. Being able to navigate the latest technology and innovations in your field – as well as adapt to any new tools that crop up – can make all the difference in the job market. 

Work-based learning opportunities are key. According to EducationWeek, in 2023, “47 states enacted 115 policies” supporting career and technical education and career readiness. Interest in these types of higher education institutions is growing right now because they tend to be intensely focused on work-based learning, and people are recognizing how well that type of education model sets students up for the workforce. The more a higher education school hones in on work-based models, the better prepared their graduates will be. 

Insights from local and regional employers are invaluable. The days of siloed curricula development are long gone. If you aren’t yet reaching out to employers in your network and picking their brains about what they want and need in new hires, you’re missing out on a gold mine of information. By creating partnerships between your school and the businesses that are hiring your students, you can leverage their insights to build better coursework and more specialized training and internship opportunities. 

Focusing on expanding and rising markets will provide the biggest payoff. It’s just not fair to treat every area of the job market as equal. Certain sectors are projected to see a major rise in demand and likewise a shortfall of talent, and they’re going to be hungry for your school’s skilled graduates. According to the State of the Future Workforce report from YouScience, these sectors include areas like Health Science (dental assistant, nursing assistant, physical therapy, etc.); Computers & Technology (web developer, information security analyst, computer programmer, etc.); Advanced Manufacturing (machinists, welders, manufacturing technicians, etc.); and Architecture & Construction (electricians, carpenters, plumbers and pipefitters, etc.). 

One-size-fits-all education approaches won’t work in the long-term. Personalized education has long been a marketing buzz term, but going all-in on individualized attention is going to be a gamechanger for a lot of higher education institutions. Part of this is due to the trend in skills-based hiring and the prioritization of specialized training. Part of it is also because of the education gaps created in 2020-2021 that have left the next generation of workers with holes that they need to fill in order to succeed. This isn’t just about hard skills either. Soft skills, like communication and emotional intelligence, need to be highlighted to give your graduates the best opportunities. 

Today’s job market is changing rapidly: True. 

Higher ed can adapt and be a part of the solution: Also true. 

The challenges keep on coming, but higher education institutions are perfectly positioned to meet them. Tapping into trends in the job market, prioritizing the skills that employers are desperate to find in their new hires, letting all of this data inform your curricula and your future investments – it’s how you not just stay in the game, but wind up at the top of the podium. (Apologies, I’ve been watching a lot of the Olympics.) 

If you want to dive deeper on this topic of how to adapt to the workforce of the future and position your school for success, give us a shout. This kind of data nerdery is right up our alley.  

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This entry was posted on Thursday, August 22nd, 2024 at 1:14 pm and is filed under Industry News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.