Have you calculated the cost of attrition at your school lately? You can use the formula, “Customer Service Factor1" to find out. It is quite possible the answer may be a source of concern for you and your school.
Overall undergraduate headcount is declining and federal and state policymakers are focusing closely on educational attainment and outcomes2, making retention a top priority for many schools. So maybe the better question is what can you do to improve the results of this calculation? While there is no magic formula that will work for all schools there are institutions having some success and we would like to share some effective strategies used with you.
We have recently contributed sponsorship to a research initiative with Eduventures3 titled: Lessons from Retention High Performers: Successful Strategies and Best Practices. This report outlines successful practices among high-performing institutions which may help you as you develop or refine your current retention management strategy.
1 Raisman, Neal. “The Power of Retention: More Customer Service in Higher Education.” The Administrator’s Bookshelf. Published 2008.
2 Lessons from Retention High Performers: Successful Strategies and Best Practices, Eduventures, June 2014
3 ABOUT EDUVENTURES
Eduventures is the industry leader in research, data, consulting, and advisory services for the higher education community. For 20 years, college and university leaders and education industry providers have looked to Eduventures for innovative and forward-looking ideas, for insights into best practices, and for help with making the strategic and operational decisions vital to their success. More about Eduventures can be found at www.eduventures.com.