Help Is on the Way
Minnesota State’s chancellor is fully aware of his system’s responsibilities to Minnesota’s employers (particularly manufacturers)
By Lynn Shelton
Enterprise Minnesota's Vice President of Marketing
(Lynn Shelton, vice president of marketing, Enterprise Minnesota)
Anyone who knows anything about solving our workforce shortages understands the value of Minnesota’s system of colleges and universities.
The upcoming issue of Enterprise Minnesota® magazine will feature a really interesting interview that Bob Kill, our president and CEO, conducted with Devinder Malhotra, who in March was named chancellor of Minnesota State, after eight months as interim.
In a thoroughly interesting interview, Chancellor Malhotra shows how he will use creative strategic thinking to bring even more effectiveness to the system.
In one of my favorite exchanges, Bob asked the chancellor about the pressures of continual budget cuts from the Minnesota Legislature. Malhotra said:
“We cannot be overwhelmed by our budgetary stresses, as severe and challenging as they are. We will not be defined by our constraints, financial or otherwise. We will be defined by the innate potential and promise we deliver to the state of Minnesota.
“It’s a difficult problem, but we are attacking it. A couple of things have happened. Higher education has responded to 20 years of disinvestments by increasing tuition, and this is happening nationally. So, the increases in tuition, which have occurred also over the last 20 years, which make the national narrative all the time, really were replacing disinvestments in higher education. The cost structure itself of our deliveries hasn't altered that much. To some extent we have become more efficient over time because we'd had fewer resources. But in our case, we don't have the option of increasing tuition either, because most of our students—84,000 low-income students—come from economically fragile backgrounds. For them $500 or a $1,000 will make or break whether they stay in the college or the university for that semester.
“I'll give you an example: When I was at Metropolitan State we sent a letter to all the students who hadn’t come back in the last three semesters, who were in good academic standing and who were within 30 credits of finishing their degree. We sent them a plan by which they could graduate within a year, and then a $500 tuition scholarship if they enroll in the coming fall. Fifty-seven students took us up on our offer; 54 of them graduated within the year.
“That was a great ROI. For $500 I was putting one additional credentialed individual in the workforce.
“Because of economic fragility and various other reasons, we are losing almost a third of our incoming class between their first year and second year. Now, if our student success metrics go up, our enrollment will go up, and our revenues will go up. And so, our strategy to promote student success is not only great for the students and for the economy, it's a great fiscal strategy for us. Right now, for example, of the seven universities in the Twin Cities, we as a system capture only 30 percent of the students who want to go on from a two-year college to get a four-year degree: 14 percent go to Metropolitan State and 16 percent go to the other universities. Let's say we start capturing 50 percent. And these are students in our own institutions where we can capture them. And our persistence rate, that is from first year to second year, instead of 70 percent moving into the second year, let's say that number goes up to 80 percent. Our fiscal problems are solved.”
Look for our full feature story with Chancellor Malhotra in the next issue of Enterprise Minnesota magazine, due out on September 15th.
How To Develop Your Future Leaders
**Exclusive to Manufacturers**
Thursday, August 23, 2018
8:00 a.m. - 10:00 a.m.
Inver Hills Community College - Liberal Arts Bldg Room 127
2500 E. 80th St.
Inver Grove Heights, MN 55076
What to Expect
Manufacturers know that the growing skills gap means they can no longer count on hiring applicants who will have the skills they need. Instead, they urgently need to develop the knowledge, skills, and abilities of their current employees. Equally important, manufacturers need to focus on the unique competencies that comprise leadership skills.
Please join us to learn insights about the critical components of talent management and the steps necessary to develop a successful leadership development program. Upon completion of the workshop participants will be able to:
- Define talent and talent management
- Identify the talent management life cycle
- Describe key components to talent management
- Explain the impact leaders have on an organization
- Depict steps to developing a leadership development program
- Create an action plan to implement within their own organization
This event is exclusive to manufacturers and is free of charge. Registration required.
To register please contact firstname.lastname@example.org