Home News How University Partnerships Can Support Employer Competitiveness – The Evolllution

How University Partnerships Can Support Employer Competitiveness – The Evolllution

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By working with employers to understand their needs, while also providing learners the ladder they require, universities can position themselves as supporters of career growth and organizational competitiveness.

An increasingly competitive labor market and concomitant talent shortages have led to innovative partnerships between higher education and industry. Employers are finding greater value in upskilling their current workforce than in trying to recruit talent with those skills. Organizational research supports them. A recent report by the Society of Human Resources Management estimated the cost to hire a new employee at $4,129, with an average hiring time of 42 days. It is often more cost-effective to train an existing staff. For years, studies have found an engaged workforce is more productive, and that employee engagement is correlated with both revenue and income.

It makes a great deal of sense to invest in the development of loyal employees who are already familiar with the culture and values of the organization by helping them stay challenged professionally, build the skills they need to progress, and contribute more to the success of the organization, thereby increasing both their engagement and productivity.

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