Over 1.2 billion learners worldwide were impacted by the COVID-19 shutdowns . As the pandemic continues, millions of low-wage jobs are replaced by new jobs in high-wage fields . Rapid growth occurring in areas such as healthcare, engineering, mathematics, science, and technology has created a widening employment gap and a desperate need for continuous learning opportunities . According to the United States Bureau of Labor Statistics, 5.9 million people are not currently in the workforce but want a job . As higher education aims to close this gap, they face the challenge of accommodating new learning needs with a limited budget and staff shortages. Higher education operating budget gaps are tens of millions, with an estimated ongoing budgetary gap reaching $150 billion. While the education sector attempts to rebound, they face an instructor shortfall ranging from 350,000 to 500,000 persons .
While facing tens of millions in budgetary shortfalls, higher education has a unique opportunity to offer reinvention and increased relevancy. According to Deloitte, “the future of work is driven by the confluence of technology and people-related disruptions, and further accelerated by COVID-19. This challenges leaders across fronts and forces them to reimagine learning” . Reframing education to meet the needs of the post-pandemic employer is crucial for institutional reinvention and relevancy. Employers are looking to develop soft skills more cognitively by increasing employee critical digital and cognitive capabilities, further developing their social and emotional quotients, and improving employee adaptability and resilience . As we look to the future, higher education must provide continuous learning and upskilling courses to professionals.
Higher Educations Reinvention for Relevancy Post-COVID
For higher education to meet the strategic needs of the post-COVID workplace, they need to adapt their education programs. This involves a reduction in traditional, passive methodologies of teaching and incorporating digitized learning ecosystems and flexible learning modalities. Ultimately, learning strategies and business models need to be working together to build teaching and learning methodologies that integrate organizational objectives into applicable skill development .
These are the 5 ways education markets have changed permanently post-COVID.
An EdTech solution should include these key features:
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