To increase their postsecondary investment, employers say they need better evidence of return on investment and an easier path for identifying appropriate institutions or programs with which to collaborate, according to an Economist survey of U.S. executives.
The report also finds that employers are more likely to collaborate with four-year schools than community colleges or training programs, missing key linkages with institutions that focus on preparing the workforce. About two-thirds of U.S. business leaders who responded to the survey are currently or have recently collaborated with postsecondary schools; 77 percent have done so with four-year schools, 32 percent with community colleges and 31 percent with technical/training programs. Respondents are more likely to invest in further education for their employees, in an effort to retain their workforce, than to invest in postsecondary education generally.
The publication concludes that “favoring four-year institutions could hinder progress towards more fruitful collaborations.” In addition, it provides examples of successful business-education partnerships such as BMW apprenticeships and the Center for Energy Workforce Development’s pre-apprenticeship boot camp.
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