This is part and parcel of my dissertation research right now. Combination of demographic headwinds, compliance costs deferred maintenance and deferred compensation are causing higher ed institutions to really struggle – especially in the Midwest and Northeast.
“If there’s one trend I’m seeing, it’s the rising level of anxiety pushing people into looking for miracle drugs — you know, the magic pill that’s going to help me transform overnight what’s been otherwise a very difficult job,” Farrell says. The conferences of college associations are jammed with new companies claiming to offer these magic cures, he says.
But the best approach may not be to find innovations, but to execute on the fundamentals that colleges already know: to have a clear mission and identity, to be devoted to improving the student experience, to provide a clear path to a life after college. Successful colleges, he says, have employees “who can execute extraordinarily well, who are disciplined, dedicated, and focused, and have the fortitude to persist and drive success consistently.”