The Education Cliff

The above graph from John Hopkins University Press, 2018, warns of a steep decline in college enrollment in the near future. Moreover, the hospitality industry is on the leading edge of this curve as enrolled students are being enticed to leave college and go to work full-time. 

The future of hospitality higher education could be going the way of the “All you can eat shrimp, " especially in community colleges and regional universities.  The top-tier students and elite colleges will survive and data suggests may even thrive.  However, with Cornell University having a price tag of $83,000 before aid, and $29,000 after aid, these students will not be seeking entry-level positions paying $40-$50k. 

Having said this, all is not lost! The best and brightest will go to elite colleges and universities OR go to work and expect on-the-job training. 

The best companies will offer leadership and development that is modular, effective, efficient, and value-additive for the employee, the company, and the guest. 

The hospitality industry is not competing for staff from other hotels and restaurants, they are competing with the Amazons of the world offering $20.50 per hour, benefits, a set schedule, and great opportunities for advancement. 

Consider these questions:

• What is your plan to raise up your star employee to become a supervisor or manager?

• How will you train and develop your team when education goes off the proverbial cliff in five years or less?

• How might b3 Remarkable be able to help?