Live at AMA: Outcomes Over Enrollments: A New Approach to Student Retention and Success
In Your Element11/20/24 • 19 min
In this episode of In Your Element, recorded live at AMA in Las Vegas, Brendan reconnects with Michael Bettersworth, CMO at Texas State Technical College (TSTC), to delve into critical trends and challenges impacting higher education. They discuss the concerning decline in student enrollment, the importance of aligning educational offerings with workforce demands, and how institutions can adopt a more student-centered approach. Michael also shares how TSTC’s partnership with Element 451 has transformed the student application experience and highlights the need for seamless collaboration across departments to ensure long-term viability in higher ed.
Key Takeaways
- Urgent Need for Adaptation in Higher Ed: Declining enrollments and increased closures highlight the need for institutions to realign their programs with current workforce needs.
- Outcome-Based Education: Programs should demonstrate clear, positive career outcomes to ensure sustainability and relevance in a shifting educational landscape.
- Enhanced Application Experience: Partnering with Element 451, TSTC achieved significant improvements in student application conversions by simplifying the process.
- Collaborative Approach to Student Success: Bridging IT, enrollment, and marketing teams is essential for creating a student-centric enrollment experience that drives retention.
- Importance of Industry Relationships: Engaging with local employers helps align educational outcomes with workforce needs, benefiting students and reinforcing institutional value.
What Trends Are Shaping the Future of Higher Education?
As institutions face increasing closures—now averaging one per week—Michael Bettersworth warns of the serious financial and demographic pressures reshaping the industry. With declining enrollment rates, especially for four-year colleges, he notes that institutions must adapt to changing student needs and labor market demands. Michael emphasizes that many institutions will need to reconsider their offerings, particularly those with low enrollment in specific programs. Schools without substantial endowments or government subsidies must confront market realities, ensuring their programs have both academic and financial sustainability to survive in the years to come.
How Can Colleges Align Programs with Workforce Needs?
Michael underscores the importance of outcome-based education for institutions, especially those focused on workforce-oriented programs. He suggests that colleges must continually engage with local employers to understand labor market demands and update their curricula accordingly. He shares an example from TSTC, which has developed partnerships with industry leaders like Tesla to provide students with clear career pathways post-graduation. This realignment process is rigorous and often involves closing underperforming programs that do not provide meaningful job opportunities for graduates. By focusing on placement rates, earnings, and debt ratios, institutions can ensure their programs remain relevant and sustainable.
What Role Does Element 451 Play in Improving the Enrollment Process?
TSTC’s partnership with Element 451 has transformed its application process, reducing abandonment rates from 75% to nearly zero. Michael praises Element’s ability to create a user-friendly application experience that is mobile-responsive and free of complex jargon, which can be especially intimidating for first-generation students. Element’s Student Hub offers a warm, welcoming environment where prospective students can track their application status and receive tailored content relevant to their program interests. By integrating with TSTC’s broader enrollment system, Element not only simplifies the application experience but also enhances student engagement, helping TSTC retain students and set them up for success from the start.
How Important Is Cross-Department Collaboration in Enhancing Student Experience?
Creating a positive student experience in higher ed requires close collaboration across IT, enrollment, and marketing teams. Michael points out that customer experience is often neglected in higher ed because no single department fully owns it. However, achieving a student-centered approach necessitates these teams working together with empathy and openness to feedback. He encourages institutions to move away from siloed structures, suggesting that a unified approach to student experience—from application through graduation—is crucial for retention. When IT, enrollment, and marketing departments work in harmony, institutions can foster a supportive environment that not only attracts but retains students throughout their academic journey.
What’s the Long-Term Vision for Higher Education’s Financial Health?
As the conversation wraps up, Michael...
11/20/24 • 19 min
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