Alumni Unemployment Demands New College Solutions

Graduation used to mark the end of a college’s responsibility to its students. But many institutions have come to realize that they need to pay attention to their graduates—however long they’ve been out of school. Nowhere is there more pressure than in the area of career services, judged by alumni as one of the key areas where they need help.

There are compelling reasons for colleges to respond to alumni needs: When graduates can’t find jobs, get laid off, or fail to find even the bottom rung of the career ladder, their misfortune now directly affects the colleges they attended.

Matriculation 
Families want assurances that a college’s alumni have successful careers. No longer is the matriculation decision based solely on the strength of a college’s academic program, or the student’s interest in a particular college. Families want to know that if their sons or daughters matriculate, they will find good work after graduation. Vague references in the college View Book may have sufficed in the past; now, real data is needed to prove a college can deliver on its employment promise.

Retention 
Layoffs and parental unemployment affect the ability of students to afford a college education and stay in school once they have matriculated. But, student retention is also influenced by what happens to recent graduates. When underclass students see the difficulties college seniors face in finding work, they are less inclined to want to remain a student and accumulate more debt. Having a vision of a successful future may be critical to persistence.

Alumni involvement and philanthropy Unemployed alumni are less likely to want to be involved with their alma mater: it’s human nature to want to share successes but hide misfortune. This is a problem for colleges because research has shown that the more involved alumni become with their institutions, the more likely they are to eventually become donors. Unemployed alumni have other priorities for their savings.

Graduate unemployment clearly cannot be ignored. Indeed, the future of many colleges may depend on finding additional ways to meet the needs of alumni—regardless of their employment status. Babson College in Boston provides a good example of innovative thinking: the College has made it possible for many alumni who previously held high-level positions to occupy office space on campus, and occasionally teach—building a sense of goodwill towards the College that will last far beyond the period of alumni unemployment.

The college that thinks creatively in this period of high unemployment, and invests in services and activities that better prepare graduates for the future, is the one that will not only survive, but thrive.

 

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