As we embark upon 2024, we face uncertainties that prompt a reflection on the trends, especially those influencing talent attraction and retention, within the sector. Insights from our colleagues around the globe provide valuable perspectives on this evolving landscape.
Value and Affordability
Amid escalating costs and inflation, Western universities, in particular, face scrutiny regarding the enduring value of traditional degrees. A Melbourne Institute survey revealed that 52% of respondents questioned the assumption of improved job outcomes resulting from a university degree and expressing disquiet about the high cost of education. Globally, concerns regarding the affordability echo with our colleagues at Kestria New Zealand who noted: “Addressing living costs has become the paramount issue for tertiary students in our country”.
Student Experience and Well-being
Universities are being compelled to prioritise innovative student experiences to counter declining enrolments, a key challenge in the U.S., according to our Kestria USA colleagues. Simultaneously, demands for holistic well-being and safety measures are intensifying, with mental health and issues like sexual harassment gaining increased attention from stakeholders, necessitating a proactive response from institutions.