eureka! an academic portfolio informed by specific employment trends
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Eureka!An academic portfolio informed by specific
employment trends
Dr Jamie Mackay | Business Development Manager for HEe: Jamie.Mackay@economicmodelling.co.uk | t: 07740 344750
www.economicmodelling.co.uk
Outline• Universities and colleges as
Economic Developers?• A new vision• Why understand your regional
economy?• Planning a strategy• Shaping a curriculum portfolio
Universities and colleges as Economic Developers?
www.economicmodelling.co.uk
Universities and colleges as Economic Developers?
• Providing skills and knowledgefor employers
• Creating businesses and jobs• R&D activity to (e.g.) raise productivity• Attracting investment and talent to the
region - domestic and foreign• Support delivery of LEP strategic
priorities
www.economicmodelling.co.uk
Insights fromIncome created by Scotland’s Colleges
For every £1 spent…
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Insights fromIncome created by Bucks New University
www.economicmodelling.co.uk
The traditional modelUniversities perceived as supply-driven producers of workforce talent:
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What’s missing? • The needs / demands of:– the labour market– the local / regional / national
economies– (the learners themselves)
A new vision
www.economicmodelling.co.uk
A new vision(Ref. Andy Westwood)
Universities take on a larger role in balancing supply/demand components of education and the labour market:
Why understand yourregional economy?
www.economicmodelling.co.uk
1. Devolution / Combined Authorities2. Apprenticeship reforms3. FE Area-based Reviews4. Graduate migration…
Why understand yourregional economy?
www.economicmodelling.co.uk
Why understand yourregional economy?
> 70%61 – 70%51 – 60%41 – 50%31 – 40%< 31%
• ‘Loyal’ graduates from 2012/13 employed after six months in each region*– Scotland: 84.3%– Wales: 64.8%– North East: 62.3%– North West: 58.9%– Yorkshire & Humber: 45.9%– West Midlands: 45.4%– East Midlands: 40.4%– South East: 36.1%– East of England: 31.4%– London: 28.9%
* Reference: Ball, C. 2015. Loyals, Stayers, Returners and Incomers: Graduate migration patterns. HECSU.
www.economicmodelling.co.uk
> 70%61 – 70%51 – 60%41 – 50%31 – 40%< 31%
* Reference: Ball, C. 2015. Loyals, Stayers, Returners and Incomers: Graduate migration patterns. HECSU.
31 – 40%21 – 30%11 – 20%0 – 10%
‘Loyal’ graduates from 2012/13 employed after six months in each region*
‘Returner’ graduates from 2012/13 employed after six months in each region*
Why
und
erst
and
your
regi
onal
eco
nom
y?
Planning a strategy
www.economicmodelling.co.uk
Planning a strategy…• to improve graduate employability?• to get a better understanding of the
regional labour market?• to improve income streams via
employer engagement?• to develop a demand-led curriculum
model?• to become a leading economic driver in
your region?
www.economicmodelling.co.uk
Planning a strategy• Which industry sectors are growing
fastest in your region?• Which graduate level occupations
are driving these industries?• Which graduate level occupations in
your region are set to see the most growth?
www.economicmodelling.co.uk
Insight from
• Professional education provider, looking to expand HRM provision into new regions
• Wanted to establish a business case, citing occupation figures and growth projections
• Also wanted to compare regional growth• Result: Recently partnered with Sheffield
Hallam University to validate a Masters in Professional Practice Strategic HRM and Development.
www.economicmodelling.co.uk
Insight from
• Drastic change to the regional economy amid 12-year lows in the price of crude oil
• University curriculum portfolio partly aligned to the Mining & Quarrying industry
• University’s Outcome Agreement to demonstrate contribution to creating sustainable economic growth for Scotland
• Result: Now using LMI to inform growth.
Shaping a curriculum portfolio
www.economicmodelling.co.uk
Shaping a curriculum portfolio
• Where are your students coming from?• Local?• National?• Overseas?
• What are your students’ expectations?• Accessibility and inclusivity?• Flexible delivery?• Graduate employability?
www.economicmodelling.co.uk
Shaping a curriculum portfolio
• Where are your graduates going?• Local?• National?• Overseas?
• How does your curriculum portfolio map to the needs of these regions?
• What is the competition doing?• Other universities?• Alternative / private providers?• Colleges?
www.economicmodelling.co.uk
Insights fromthe classes of 2012-14*
2011/12
2012/13
2013/14
Graduate employment rate 72.6% 74.7% 73.8%Unemployment rate 8.5% 7.3% 6.3%Graduate-level employment 64.0% 65.6% 67.7%
* First degree graduates excluding Postgraduates.Reference: Destinations of Leavers from Higher Education, Higher Education Statistics AgencySee also: What do Graduates do 2014? / What do Graduates do 2015?. HECSU.
www.economicmodelling.co.uk
Insights fromthe class of 2015
• More career-focused than predecessors• Researching careers in first year• Undertaking work experience including
placements and internships• Higher salary expectations - £41k by
5yrs – although these are not always met• Feel underemployed by some businesses• Commonly looking to work in SMEs
References:The UK Graduate Careers Survey 2015, High Fliers ResearchAccenture Strategy 2015 UK University Graduate Employment Study, Accenture
www.economicmodelling.co.uk
Summary1. Universities as Economic Developers2. Balancing supply/demand
components of education and the labour market
3. Regional insights are key4. A strategic plan and curriculum
portfolio both informed by LMI5. Transform lives.
Dr Jamie Mackay | Business Development Manager for HEe: Jamie.Mackay@economicmodelling.co.uk | t: 07740 344750
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