University Business - March 2007 - (Page 29)

Warning : session_start : The session id contains invalid characters, valid characters are only a-z, A-Z and 0-9 in /mnt/data/www.nxtbook.com/fx/config_1.3/global.php on line 9 Warning : session_start : Cannot send session cache limiter - headers already sent output started at /mnt/data/www.nxtbook.com/fx/config_1.3/global.php:9 in /mnt/data/www.nxtbook.com/fx/config_1.3/global.php on line 9 Warning : Cannot modify header information - headers already sent by output started at /mnt/data/www.nxtbook.com/fx/config_1.3/global.php:9 in /mnt/data/www.nxtbook.com/fx/config_1.3/global.php on line 10 HUMAN RESOURCES A Change of Course The aging workforce is an approaching storm for which institutions should be making preparations. By Carol Patton E ’ V E ALL HEARD THE news: The American workforce is in trouble. Baby boomers are retiring in droves and there’s not enough skilled talent entering the workforce to replace them. Even the number of high school graduates and enrollments is projected to slowly but steadily decline, despite a record 3.2 million students expected to earn their high school diplomas in 2008-2009, according to the Western Interstate Commission for Higher Education. The aging workforce is a problem that affects all industries. Some universities and colleges have already begun to feel the pinch and are drawing battle lines for talent. They’re updating their HR strategies to hold on to valuable employees while introducing alternative programs that will hopefully serve as employee magnets. Margaret Morford believes the aging workforce trend will hit universities especially hard. As a management consultant based in Nashville, Tenn., she says the average age of employees at higher education institutions is abnormally high—between 45 and 48—compared to the high 30s range in the private sector. To make matters worse, their HR policies are often outdated and too strict. Many schools, for instance, won’t hire experienced business managers or executives who are seeking a second career because they lack advanced degrees. “The problem is they’re so steeped in their culture,” Morford says. “It’s hard to let go.” At the very least, she says HR can cre- W Some schools will only change hiring criteria when they start hemorrhaging talent. ate part-time positions with health benefits, which is the big worker worry these days. According to The New Retirement Survey from Merrill Lynch, which looked at 2,348 U.S. adults ages 40 to 58 in 2004, baby boomers are three times more worried about a major illness 48 percent , their ability to pay for health care 53 percent , or winding up in a nursing home 48 percent than they are about dying 17 percent . Morford also suggests designing an intern program for older workers or those seeking a second career to help them test the waters. But in order to be successful, the hiring criteria would have to change. Morford believes schools are missing huge opportunities to fill their workforce with highly qualified business professionals because they place academic degrees over business experience. “Universities deal in information and not always knowledge,” she says. “They’re big on, ‘You’ve got to be published.’ Any CEO who runs a company is too busy doing than publishing. Universities are overlooking people who may lack the academic credentials but possess valuable real-world experience.” Bu t age-old traditions are hard to break. She believes some schools will only change their hiring qualifications when they’re in a crisis mode, start hemorrhaging talent, and become desperate. Leaders at the College of Saint Mary in Omaha, Neb., aren’t waiting for the inevitable to happen. The college is currently facing talent shortages of degreed people in health care to teach nursing and health care management in its largest program area, nursing and allied health. So officials created half-time positions for retiring professors and a master’s program for nurses a doctoral nursing program is in the works , says Martin Sellers, VP of academic affairs at the fouryear institution, which supports roughly 1,000 students and 135 teachers. Alumni of both programs will be invited to return as teachers. “We’re creating our own professional teachers to teach B.A. students,” Sellers says. “It’s a backward way of ensuring that our nursing school, which has a real strong enrollment, can continue.” Carol Patton is a Las Vegas–based freelance writer who specializes in covering HR issues. www.universitybusiness.com March 2007 | 29 MP 33:80:21 70/12/2 92 ddni.RH_703_BU Warning : Unknown : The session id contains invalid characters, valid characters are only a-z, A-Z and 0-9 in Unknown on line 0 Warning : Unknown : Failed to write session data files . Please verify that the current setting of session.save_path is correct /var/lib/php/session in Unknown on line 0 http://www.universitybusiness.com

Table of Contents for the Digital Edition of University Business - March 2007

Contents
College Index
Company Index
Advisory Board
Editor's Note
Stats Watch
Sense of Place
Viewpoint
Marketing
Human Resources
Financial Aid
Money Matters
Community Colleges
Title IX Turns 35
It’s Electric
Lost in Space
Transportation Trends
Details of Retail
Business Technology
What's New
Calendar of Events
Direct Connect
End Note

University Business - March 2007

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