The Diminishing Employer Demand for the Traditional MBA

ABOUT THIS EPISODE

Andrew Crisp, Co-Founder at CarringtonCrisp , joined the podcast to discuss their recent study, The Future of Lifelong and Executive Education , and the reinvention of the traditional MBA that employers are demanding.

Every company is a digital businessnowadays and so the skills that employers want from their Mbas havemoved on. They're still got some finance gills, but, more importantly,they're. Looking for those digital skills, you're listening to enrolment growth,university from helic education, the best professional development podcastfor higher education leaders looking to grow in Roman at their college oruniversity, whether you're looking for fresh and Roman growth techniques andstrategies or tools and resources, you've come to the right place. Let'sget into the show, welcome back to an Roman GrowthUniversity, a proud member of the connect Edu podcast network, I'm EricOlsen with helic education and we're here today with Andrew Crisp Co founderat Carrington. Crisp Andrew Welcome this so hi Eric good to be here reallyexcited to have you here and talk with you today about the diminishingemployer demand for the traditional NBA,...

...but before we dig into that, can yougive the listeners a little bit of background on both Carrington Crisp andyour rule? There? Yes Hi! So I one of the CO founders of current and Chris weset up two thousand and four. I guess it wastwo thousand and three that's o a type specifically to work with businessschools on branding issues, since ember business has grown quite significantly.We've worked in thirty five countries with about two hundred institutions,mostly business school still, but a few wide university clients as well, and arange of projects all backed by five annual market insight studies we dowhich, with the future Bas the future of masters, alumno relations, schoolbranding and Disia communication, so very embedded in the business educationworld. I love how your continued research continues to tip off where theNBA continues to evolve and Er to kick off this research driven conversation.Can you provide us just with a high...

...level overview of your most recentstudy on the future of life? Long and executive education? Yes, absolutelyerect. So we've run a study three times in the last decade, looking atexecutive education and then last year, during the the pandemic, we did aseries of studies on one of the things that came up time and time again wasthe growth of reskin and upskilling people staying in the workforce longerneeding to update their skills, acquire new skills, and so we put together thisstudy at the beginning of this year to look at whether there were connectionsbetween executive education, life, long learning, how the two might cometogether in terms of what business educations are going to provide themarket place and ran a study with linked in looking at these topics wherewe surveyed about two and a half thousand individual learners around theworld and five hundred employers to get...

...their views on how the market wasevolving. It's a fascinating research study. I'd argue one of the moststriking stats, at least to me that came out of this research. Is that afull seventy seven percent of those five hundred employers believe thathigher red really needs to reinvent the NBA. Why do you believe that's the caseand maybe more importantly, reinvent into what that's a great question. I think thereare a number of drivers here, so we're not talking about the end of the NBA.The NBA has become a brand but brands change. You just have to look at thecar market and you know a messages or a Jaqua, now they're available as fullyelectric vehicles, and so in the same way the NBA brand has to change, and Ithink for employes is driven by a couple of things, thus for what theyfind they need in terms of skills in their business. is so you go back adecade. Twenty years a corporate finance was a main stay at the NBA.It's not today. Yes, of course, finance...

...is still important. Yes, a county isstill important, but actually it's technology is digital is transformation.Every company is a digital business nowadays, and so the skills thatemployers want from their Mbas have moved on, they're still lots of finiteskills, but, more importantly, they're looking for those digital skills. Theother part of this is that employers are reacting to what their customersare saying and their customers are saying. Business needs to move forward.Business needs to play a wider role across society,rather than seeing itself as a stand alone almost and to that end we'refinding time and time again issues like ethics, ethical leadership, responsiblemanagement, diversity, e quality inclusion. All of these subjects aremuch more to the fall in terms of what customers are talking about andthereforee employers are looking for...

...that again in their Mbas and so somesignificant shift in terms of the content and the positioning of the NBA.You spoke to this concept of for those employers who have mentally moved onfrom the NBA. Let's talk about that for those specifically who reference thatthey don't formerly partner with business schools anymore on theiremployee up skilling initiatives. What are some of those alternatives thatthey're turning to instead, so one of the obvious ones is theconsultancy firms. So you look at Makins, look at a censure, you gotdeloyer, they all have their own training academies and if your companyis a customer of one of these, then the chances are they'll also be selling yousome training and development. But it's not just the big consulting firms we'refinding a number of corporates. Launching their own academy is a greatexample Union Bank or Switzerland. Bs Now have a training academy whichoriginally, I guess, began just...

...training ubstances. But now anybody canpick you up online and take a program with them very short, simple, cheapprograms. Ninety nine dollar up to programs at cost thousands of dollarsand it works, because if you want to have a career at financial services,then having U BS on your C v as the brand that Bat, your training issomething that will be recognized by any other financial sector employer. Soit doesn't have to be one of the traditional business education prides.It can be a corporate education provider and I think even beyond that,you then look at the short course offerings from cale Sarah, from edx toyou, from Unami from all hosts manner of organizations is A. I read recentlyan Indian organization which is one of the largest providers in this marketplace. Yes, an got companies like Meritos as well, offering sometimesprograms that have come from business...

...cools, but not now offered directly bythe school, but by the third party. So a real breadth of providers in themarket place that working in a way that employers are interested in thatperhaps isn't available from the traditional business schools in Dronthe on the optimistic side, I think I think one of the good news, or at leastsilver lining stats that came out of this research to me, was when you askedemployers about their views on the legitimacy of a mine education versus atraditional in person environment. Can you share more about what came backthere? Yes, absolutely, I think. Well, it was happening before the Pandera.There were signs more employees were interested. They were buying acorporate senses from some of these organizations, like just mentioned thecorsairs and and others like that. But what has happened over the last fiftytwenty months? Is Employers have had to work online they've had their staffworking on line. They see that actually,...

...the productivity has been pretty goodin some cases better than it was when people came to the office or orwherever they were working, and so this embrace of all things online hasinevitably extended to delivery of development and learning. Of course,the other benefits for the employer is if people are learning online. Thecosts are a lot lower for the not literally the cost of the fees for thestudy, but they're not traveling to another location. They don't needaccommodation, costs they're, not perhaps missing out on so much worktime to do this learning and development. So there are big benefitsfor employers to embrace online learning, alongside traditional rootsof learning, with so much recent focus on figuring out, moving toward life,long learning, models versus hoping or expecting a four year college sent inhe students early Tis alone, will set...

...them up for forever a career success.How should institutions align themselves with helping employersfigure out what life on learning pathway should look like for theiremployees? Well at the first thing is: listen talk to the employers, hear whatthey have to say, understand how learning moves through anorganization and moves through a career that people need different things atdifferent times and have that flexibility. So don't expect to go toan employer and say we do this, expect to go to an employer and say so what itis it you want, because we can probably help the idea that there is only oneway forward. I it's it's rather like with degrees. You know largely peoplehad to start them at a certain time of the year and complete them at a certaintime of a year. That is not the case anymore. There needs to be thatflexibility that, particularly if somebody is working then maybethey wantto start studying in April. Maybe they...

...want to start setting in January.They're not just going to study start a degree and also September, and they maywant to do part of that degree and then stop and then come back and do anotherpart of that degree. There was a great interview. Last year it was a ministerfor education in Singapore, who talked about the end of linear learning. Theidea that you have to go straight through our program and complete it inone go and I think, for those who have dropped out of education paps in theparts who's not finished their degree. This is a real opportunity to come backlater on in their lives, maybe five ten years later and add the skills thatthey need to complete their qualification all to pick up some newand different skills of the now relevant to the career they have and tothe world of employment that they're the labor market that they're part ofso that flexibility is absolutely key. The other thing, but that I ought tomention it is brand brand- is going to be so important going forward becauseconnected to our last point about...

...online learning, employers arecertainly open to online learning, but the one question they asked is: Who didyou learn with? There are a lot of not fly by night, but maybe not quite assophisticated providers as employers might hope they would be so. Employerswant to know that the reputation as a provider that quality of their content,the pedagogy the impact of the learning all of these are as at the highestorder, and that means working with the branded providers. Those who know thebusiness of learning who know the content that is required and have beenlistening to employers about what they will need for the future and ourtremendous insights. Finally, can you leave us with any high level next stepsadvice for inducens who are looking to better partner with employers on theirland initiatives? I think there are. There are two or three things that areimportant, so the first thing is...

...for a lot of universities. Their mainmarket has been eighteen year olds, undergraduates, maybe twenty two twentythree twenty four year olds with for a post graduate degree. What they're now having to do insteadof dealing with all of these individuals, is they're dealing withcompanies and so moving from a bee to see to a be to be market place andhaving the right people who understand how to do that is really going to beincredibly important going forward. Secondly, is experiment, take a risk. Ispoke to somebody from Alto University last year as part of a piece ofresearch we were doing and they had never run an online program. Certain ofa short course non degree online program, and so they went to the marketplace and they ran their first one on fin teck, and I had a thousand peoplesign up and they now have twenty of these programs running at multipletimes during the year and it's a significant part of the business callanactors, Revenue Stream, but they had to...

...take a risk they they had to acceptthat not everything was necessarily going to work first time. So I thinkthat's something. That's important for universes as wall because they tend tobe quite conservative. Otherwise, and I think the third thing is online offersopportunity. It offers opportunity in the sense that your customers need notnecessarily be on your doll step anymore. They could be on the otherside of the world and understanding this learn anywhere atany time. Market place that is now evolving is really important if you'regoing to make the most of the opportunities that on by breacherAndrew tremendous stuff. Thank you so much again for your time today. What'sthe best place for listeners to reach out if they have any followingquestions. Well, L obviously find this one linked him. Not surprisingly, theycan contact us by email INFO at Carrington, crisco overs of our website,Carrington, Chrisom and they'll find a...

...host of information and findings fromour research and a little bit more information about the work that we do.Is Business Education around the world awesome and drew thanks so much forjoining us today, my cash Eric Nice to speak to you attracting today's newpost, traditional learners, means adopting new enrolment strategies.helic educations data driven enterprise, wide approach to enrollment growth isuniquely helping colleges and universities thrive in this neweducation landscape and he lox has just published the second edition of theirenrollment growth play book with fifty percent brand new content on howinstitutions can solve today's most pressing and Roman growth challengesdownload it today for free at Helic Education Com play book. You've been listening to enrolmentgrowth university from helic education to ensure that you never miss anepisode subscribe to the show in Itunes...

...or your favorite podcast player. Thankyou so much for listening until next time.

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