Public confidence in higher education has plummeted, with only 36% having “a great deal” or “quite a lot” of confidence in colleges and universities (Gallup Poll, 2023). Yet, the responsibility for this perception does not solely rest with higher education; the industry and job market also influence how a college degree is valued. If graduates struggle to find competitive, well-paying jobs, the perceived return on investment for higher education diminishes. Therefore, higher education and the industry must restore public confidence by engaging in collaborative partnerships.

The Disconnect Between Higher Education and Industry

The perceived gap between academic learning and job market demands contributes to the declining confidence in higher education. Employers increasingly overlook the need for a college degree. This signals that mere academic credentials are inadequate for workforce readiness. Faculty members are also often responsible for developing curricula and courses. However, they are usually insulated from external influences. Thus, faculty may not be as attuned to the evolving needs of the job market. Consequently, many academic programs may not align with the skills that employers seek. In addition, slow institutional change and limited business input compound this disconnect.

As a result, graduates lack essential skills, diminishing the public’s perception of the college degree’s value. Thus, a sense of urgency exists to create collaborative partnerships.

Collaborative Partnerships: The Path Forward

To improve public perception and increase the value of a college degree, higher education institutions and industries must forge collaborative partnerships. These collaborative partnerships can equip graduates with the knowledge and competencies to excel in the workforce and bolster the economy.

Key Strategies

1. Curriculum Development. Institutions must establish advisory boards composed of business leaders. These advisory boards provide valuable expertise into the relevance and effectiveness of the curriculum.

2. Experiential Learning. Incorporating more hands-on, experiential learning opportunities into academic programs bridges the gap between the classroom and the workplace. This includes internships, co-op programs, and project-based learning that allow students to apply their knowledge and skills in real-world settings.

3. Hiring Practices. Employers must be more transparent about the skills and competencies needed in job candidates. They must work with higher education institutions to ensure graduates are prepared to meet these requirements. Examples include collaborating on the development of job-ready skills and providing feedback on the performance of recent graduates.

4. Continuous Improvement. Both higher education institutions and industry partners need to engage in ongoing evaluation and improvement of their collaborative efforts. Regular assessments of the effectiveness of the curriculum, the relevance of the skills being developed, and the satisfaction of employers with the quality of the graduates they hire represent a few initiatives.

Conclusion

The public’s declining confidence in higher education requires a multi-faceted approach to address. While higher education institutions must take responsibility for addressing the challenges they face, the industry also plays a critical role in shaping the public’s perception of the value of a college degree. Collaborative partnerships represent a valuable solution to address this challenge head-on.

Leaders must make the walls between academia and the industry more porous. By addressing this disconnect, both sectors can significantly enhance public perception of the value of a college degree. This approach fosters workforce readiness, showcases the ROI of higher education, and demonstrates its indispensable role in preparing graduates for professional success and economic contribution.

If you are ready to create a collaborative partnership strategy for your institution, contact Dr. Theresa Billiot.