1. The document discusses how universities can serve as economic developers by providing skills training aligned with regional labor market needs, supporting businesses and jobs, and attracting investment. 2. It argues universities should balance supplying graduates with the demands of the labor market and local economy. Understanding regional labor market insights and economic trends is key to developing strategic plans and curriculum. 3. A new vision calls for universities to play a larger role in balancing education supply with labor demand.

1. Eureka!
An academic portfolio informed by
specific employment trends
Dr Jamie Mackay | Business Development Manager for HE
e: Jamie.Mackay@economicmodelling.co.uk | t: 07740 344750

2. www.economicmodelling.co.uk
Outline
• Universities and colleges as Economic
Developers?
• A new vision
• Why understand your regional
economy?
• Planning a strategy
• Shaping a curriculum portfolio

3. Universities and colleges as
Economic Developers?

4. www.economicmodelling.co.uk
Universities and colleges as
Economic Developers?
• Providing skills and knowledge
for employers
• Creating businesses and jobs
• R&D activity to (e.g.) raise productivity
• Attracting investment and talent to the
region - domestic and foreign
• Support delivery of LEP strategic
priorities

5. www.economicmodelling.co.uk
Insights from
Income created by Scotland’s Colleges
For every £1 spent…

6. www.economicmodelling.co.uk
Insights from
For every £1 spent…

7. www.economicmodelling.co.uk
Insights from
Income created by Bucks New
University

8. www.economicmodelling.co.uk
See also:
So where next?

9. www.economicmodelling.co.uk
The traditional model
Universities perceived as supply-
driven producers of workforce talent:

10. www.economicmodelling.co.uk
What’s missing?
• The needs / demands of:
– the labour market
– the local / regional / national economies
– (the learners themselves)

11. A new vision

12. www.economicmodelling.co.uk
A new vision
(Ref. Andy Westwood)
Universities take on a larger role in balancing
supply/demand components of education
and the labour market:

13. Why understand your
regional economy?

14. www.economicmodelling.co.uk
1. Devolution / Combined Authorities
2. Apprenticeship reforms
3. FE Area-based Reviews
4. Graduate migration…
Why understand your
regional economy?

15. www.economicmodelling.co.uk
Why understand your
regional economy?
> 70%
61 – 70%
51 – 60%
41 – 50%
31 – 40%
< 31%
• ‘Loyal’ graduates from
2012/13 employed after six
months in each region*
– Scotland: 84.3%
– Wales: 64.8%
– North East: 62.3%
– North West: 58.9%
– Yorkshire & Humber: 45.9%
– West Midlands: 45.4%
– East Midlands: 40.4%
– South East: 36.1%
– East of England: 31.4%
– London: 28.9%
* Reference: Ball, C. 2015. Loyals, Stayers, Returners and Incomers:
Graduate migration patterns. HECSU.

16. www.economicmodelling.co.uk
> 70%
61 – 70%
51 – 60%
41 – 50%
31 – 40%
< 31%
* Reference: Ball, C. 2015. Loyals, Stayers, Returners and Incomers: Graduate migration patterns.
HECSU.
31 – 40%
21 – 30%
11 – 20%
0 – 10%
‘Loyal’ graduates from 2012/13 employed after
six months in each region*
‘Returner’ graduates from 2012/13 employed
after six months in each region*

17. Whyunderstandyour
regionaleconomy?

18. Planning a strategy

19. www.economicmodelling.co.uk
Planning a strategy…
• to improve graduate employability?
• to get a better understanding of the
regional labour market?
• to improve income streams via employer
engagement?
• to develop a demand-led curriculum
model?
• to become a leading economic driver in
your region?

20. www.economicmodelling.co.uk
Planning a strategy
• Which industry sectors are growing
fastest in your region?
• Which graduate level occupations are
driving these industries?
• Which graduate level occupations in your
region are set to see the most growth?

21. www.economicmodelling.co.uk
Insight from
• Professional education provider, looking to
expand HRM provision into new regions
• Wanted to establish a business case, citing
occupation figures and growth projections
• Also wanted to compare regional growth
• Result: Recently partnered with Sheffield
Hallam University to validate a Masters in
Professional Practice Strategic HRM and
Development.

22. www.economicmodelling.co.uk
Insight from
• Drastic change to the regional economy
amid 12-year lows in the price of crude oil
• University curriculum portfolio partly
aligned to the Mining & Quarrying industry
• University’s Outcome Agreement to
demonstrate contribution to creating
sustainable economic growth for Scotland
• Result: Now using LMI to inform growth.

23. Shaping a curriculum portfolio

24. www.economicmodelling.co.uk
Shaping a curriculum portfolio
• Where are your students coming from?
• Local?
• National?
• Overseas?
• What are your students’ expectations?
• Accessibility and inclusivity?
• Flexible delivery?
• Graduate employability?

25. www.economicmodelling.co.uk
Shaping a curriculum portfolio
• Where are your graduates going?
• Local?
• National?
• Overseas?
• How does your curriculum portfolio map
to the needs of these regions?
• What is the competition doing?
• Other universities?
• Alternative / private providers?
• Colleges?

26. www.economicmodelling.co.uk
Insights from
the classes of 2012-14*
2011/12 2012/13 2013/14
Graduate
employment rate
72.6% 74.7% 73.8%
Unemployment
rate
8.5% 7.3% 6.3%
Graduate-level
employment
64.0% 65.6% 67.7%
* First degree graduates excluding Postgraduates
.
Reference: Destinations of Leavers from Higher Education, Higher Education Statistics Agency
See also: What do Graduates do 2014? / What do Graduates do 2015?. HECSU.

27. www.economicmodelling.co.uk
Insights from
the class of 2015
• More career-focused than predecessors
• Researching careers in first year
• Undertaking work experience including
placements and internships
• Higher salary expectations - £41k by 5yrs
– although these are not always met
• Feel underemployed by some businesses
• Commonly looking to work in SMEs
References:
The UK Graduate Careers Survey 2015, High Fliers Research
Accenture Strategy 2015 UK University Graduate Employment Study, Accenture

28. www.economicmodelling.co.uk
Summary
1. Universities as Economic Developers
2. Balancing supply/demand components
of education and the labour market
3. Regional insights are key
4. A strategic plan and curriculum portfolio
both informed by LMI
5. Transform lives.

29. Dr Jamie Mackay | Business Development Manager for HE
e: Jamie.Mackay@economicmodelling.co.uk | t: 07740 344750