innovation imperative: enhancing the talent pipeline · funding for employees to take online...
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NORTHEASTERN UNIVERSITY 3rd Innovation in Higher Education Poll
April 29, 2014
Innovation Imperative: Enhancing the Talent Pipeline
National Business Leader Poll Results
Methodology
• Northeastern University’s third Innovation Imperative Poll examines business leaders’ views on key issues at the intersection of employment and higher education.
• The poll examines current views on college student outcomes, graduates’ preparedness for the workforce and innovation in higher education, as well as the impact of the Great Recession on hiring practices and workforce development.
• The national sample (N=502) is proportional to the composition of U.S. businesses, with supplemental oversamples in three Designated Market Areas (DMAs): Boston, Seattle and Charlotte (N=301).
• The poll was conducted February 3–19, 2014. The overall incidence was 75% and the margin of error (MOE) is +/- 4.37 for the national sample, and +/- 5.65 for the oversample (95% confidence level).
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American business leaders are divided in their expectations of whether college graduates will be more, less or equally prepared for the workforce in 10-15 years.
Key Findings
The employee skills gap is real, and it might worsen: Business leaders resolutely believe there is a skills gap in today’s U.S. workforce and a substantial majority contends that most college graduates lack the most important skills needed to succeed.
Most business leaders believe the U.S. education system lags behind both developed and emerging countries in preparing students for the workforce, and virtually all steadfastly believe innovation is crucial to remain globally competitive.
Nearly two thirds of C-Suite executives say the Great Recession has impacted their businesses, with the most common consequence being a reduction in the number of entry level positions.
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Higher education must develop innovative ways to educate and prepare our students: C-Suite executives resolutely believe colleges and universities should expand opportunities for experiential learning and teaching about entrepreneurship.
1Global Standing and Innovation Imperative
The C-Suite and general public agree the U.S. higher education system currently lags behind most countries
Thinking about emerging economies, such as China, India and Brazil, and mature economies such as Japan and many nations in the European Union, how do you think the U.S. ranks in terms of preparing students for the workforce?
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7%
36%
49%
5%
Ahead of all Ahead of most
Behind most Behind all
2014 C-Suite
5%
41%
47%
7%
Ahead of all Ahead of most
Behind most Behind all
2013 National
Business executives feel most strongly that innovation in higher education is critical for global competitiveness
And, please indicate whether you agree or disagree with the following: The U.S. higher education system needs to innovate to remain competitive with other countries around the world.
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83%
87%
96%
11%
13%
3%
AGREE / DISAGREE
2014 C-Suite
2013 National
2012 National
1-in-3 say graduates will be less prepared for the workforce in 10-15 years, with small business leaders most concerned
And, in the next 10-15 years, do you think college graduates in this country will be more prepared, less prepared, or equally prepared to enter the workforce as compared to today’s graduates?
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27% 32%
39%
More prepared Less prepared Equally prepared
2014 C-Suite
25% 33%
40%
More prepared Less prepared Equally prepared
<100 Employees 43%
19% 35%
More prepared Less prepared Equally prepared
100+ Employees
Executives are divided on whether the value of a college degree in America will increase, decrease or stay the same
Do you expect that the value of a college degree in America will increase, decrease or stay the same?
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34%
28%
38%
Increase Decrease Stay the same
Value of College Degree in 10-15 years
2Skills Gap and Effects of the Great Recession
Employee skills gap: Business leaders widely believe there’s a sizeable shortage of necessary skills in the U.S. workforce
Do you think there is currently a skills gap, or a shortage of necessary skills, among the U.S. workforce?
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73%
25%
Yes No
Skills Gap
86%
14%
Manufacturing
77%
21%
Professional Services
67%
29%
Healthcare /Social Services
37%
31%
23%
6%
Very concerned
Somewhat concerned
Not very concerned
Not at all concerned
And they’re concerned about the long-term impact of government funding cuts on the quality of the workforce
Overall, how concerned are you that cuts in government funding for higher education and research will have negative long-term effects on the quality of the U.S. workforce?
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39% 37%
15%
7%
Very concerned
Somewhat concerned
Not very concerned
Not at all concerned
National Boston
We reduced the number of entry-level positions 40%
We slowed promotion tracks for existing employees 31%
We invested less money and resources in employee training programs 29%
17%
Impact of the Great Recession
We stopped or reduced recruiting at colleges and universities
The Great Recession has had a wide range of negative effects, with cut-backs on recruiting, hiring, and training
Please indicate which, if any, of the following describes the impact of the Great Recession on your company?
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30% Among Boston
C-Suite executives
3Online College Education, Experiential Learning and Entrepreneurship
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An online college degree provides a similar quality of education as compared to traditional colleges or
universities.
My company would consider hiring an employee that received an online degree or certification from
a non-university course provider.
Business leaders are divided over the quality of an online degree, but would consider hiring an online-only candidate
16%
53%
18%
4%
Strongly agree
Agree Disagree Strongly disagree
Hiring an Employee with Online Degree
12%
36% 34%
14%
Strongly agree
Agree Disagree Strongly disagree
Online Degree: Same Quality as Traditional
Virtually all C-Suite executives believe experiential learning is paramount for graduates’ success
Please indicate how important you think each of the following is for U.S. colleges and universities to focus on: Integrating education programs with practical experience, such as internships with employers.
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76%
21%
2% 1%
Very important Somewhat important Not very important Not at all important
Integrating Education with Practical Experience
Business leaders say partnerships with educational institutions are key, but most don’t sponsor such programs
Many colleges and universities partner with private industry. Which of the following would you say is the most beneficial type of partnership for your organization:
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Long-term internships for college students (6-12 months) 36%
Education partnerships focused on specialized skills training 36%
Research partnerships 10%
18%
Most Beneficial Partnerships
None of the above
And, is this type of program currently underway at your company?
44% 54%
Yes No
Partnerships Currently Underway
7-in-10 Support
partnerships that promote experiential
learning
Nearly 9-in-10 business leaders say entrepreneurial skills are important for workforce preparedness
Please indicate how important you think each of the following is for U.S. colleges and universities to focus on: Programs that teach students about entrepreneurship, including how to start their own business.
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45% 44%
9%
1%
Very important Somewhat important Not very important Not at all important
Importance of Entrepreneurship Programs
4Employee Training and Career Success Factors
Boston-area business leaders are more likely to offer funding for continuing education and employee training
Please indicate which, if any of the following are currently offered at your company:
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Funding for employees to take online continuing education courses 33%
NATIONAL BOSTON
Continuing Education and Training
38%
51%
44%
43%
62%
Funding for employees to take in-person continuing education courses
Professional development training
SEATTLE
48 %
50%
65%
CHARLOTTE
33%
44%
44%
Executives cite personal drive as the most important factor; C-suite in Boston are most likely to tout mentorship
Which of the following was the most important factor for your own career success? Please select the top two in order of importance.
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Personal drive and ambition 72%
Early career training 31%
College or graduate education 27%
27%
21%
Personal Career Success Factors
Mentors or advisors
Internships or summer jobs during college
45% Among Boston C-Suite executives