Business schools missing out on alumni learning boom

The study, carried out in association with EFMD, surveyed 2,130 business school alumni from 87 countries. The majority (70 per cent) said they want their business school to create specific programmes for alumni, while two-thirds (64 per cent) would like online access to faculty content and 61 per cent are looking for preferential rates for further study

Commenting on the findings, study author Andrew Crisp said: “Lifelong learning is one of the priorities for alumni and there is a clear indication that they expect favourable rates and access from their business schools. If they are not able to get this, they are willing to go elsewhere. However, this presents an opportunity for business schools to develop partnerships with other providers to offer further learning options for their alumni.” 

Over half of alumni (51 per cent) are interested in studying full time for another degree such as an MBA, EMBA or other master’s qualification. The next most popular option is a postgraduate certificate or diploma (45 per cent), followed by non-degree executive education of short duration (43 per cent). Over half of alumni (51 per cent) expressed a preference for studying either entirely online or in a blended format. 

The study asked what other initiatives and services alumni would like to see from their business schools. Learning and career development dominated: nearly half (45 per cent) would like to participate in an annual business school community event offering networking and learning opportunities. Two-fifths (42 per cent) said that they would want to engage actively in current students’ career development and 41 per cent would like to get involved with course or programme development. Some 39 per cent of respondents want to collaborate with other alumni to give back to society at large through charity and NGO projects.

Asked what would make a better alumni relationship, again learning and career support were to the fore. Just under half (48 per cent) want better career services, followed by a desire to make it easier to connect with other alumni (46 per cent); the same percentage of respondents also expressed a desire for their business school to offer more opportunities for further learning.

The study also shows a continued interest in entrepreneurship, with four out of 10 (41 per cent) wanting advice and support on start-ups. In this group of ‘entrepreneurs’, 62 per cent are seeking opportunities to invest in new businesses, over half (52 per cent) are thinking of starting a business and are seeking advice, with 45 per cent relaying that they have already started their own business and want to network with those in the same position.

“The global job market is changing quickly due to technological, economic and societal factors”, noted Crisp. “Having several different careers is becoming the norm and it is why alumni are looking to their business schools for help to gain up-to-date skills, knowledge and experience.