Retention Management Systems for Higher Education Businesses

One of the biggest challenges shared by all educational institutions is student retention. Estimates vary, but research suggests that the overall undergraduate college student dropout rate in the United States is an alarming 40%. Furthermore, around 30% of college students quit before completing the first year of their studies.

This should make worrying reading for anyone running an educational business, for whom revenues and bottom lines revolve almost entirely on admissions, retention rates and course completions.

Of course, there are countless reasons why dropout rates are high across most schools and colleges. Examples of which include wider socioeconomic issues, the level of institutional support provided by the school, confidence or motivation among candidates and many more besides.

While some of these factors are easier to control than others, the use of effective retention management systems can prove helpful in all instances.

What Are Retention Management Systems?

As the name suggests, a retention management system is a suite of services, functions and facilities that enables an educational institution to take more proactive control over candidate retention. It is essentially an offshoot of a broader Student Information System (SIS), wherein various types of data are brought together to provide actionable insights.

The benefits of an effective retention management system are universal – not exclusive to larger schools and colleges. Though according to LISTedTECH, there is a direct correlation between the size of the institution and its likelihood of adopting and using a retention management system:

“When we break down the use of retention systems by enrollment size, we notice that the bigger they get, the most likely institutions are to use retention systems. The reason is fairly easy to explain: when students are in smaller institutions, they are often in smaller classrooms and have more direct contact with professors and support staff. Therefore, if a student struggles with a course, an in-person support system will be put in place quickly. However, when professors teach a few hundred instead of a few dozens, it’s more likely that they won’t have time or the capacity to reach out individually to the struggling students.” - LISTedTECH

Every school will have its own unique requirements and will therefore benefit from a bespoke retention management system (and Student Information System) from a trusted provider.

What Functions and Features Does a Retention Management System Provide?

As part of a broader SIS, a retention management system performs a wide variety of functions and provides access to essential data for key decision-making processes. Typical features and functionalities to expect from an effective retention management system include the following:

Regular Reports

Scheduled and on-demand reporting functionalities enable stakeholders, decision-makers and faculty members in general to access invaluable information on trends, behaviors and patterns of interest. Specifically, the data collected and presented provides a snapshot of what is working within the school, what could stand to be improved and what may require an urgent rethink. This enables subsequent decisions to be made based on hard facts and evidence – not educated guesswork.

Retention Scoring

This is an exceptionally useful feature that uses complex algorithms to calculate dropout probability on the basis of various factors. Examples of which may include income level, the education level of the candidate’s parents, a student’s class rank and high school GPA, their ACT/SAT scores and so on. With retention scoring, educators and faculty members are alerted to individuals who are more likely to drop out than others, so that they can be provided with additional support and attention to keep them on board.

Academic Alerts

Retention management systems can also be programmed to automatically trigger alerts when various events take place. Examples of which include a student’s average grade or test performance falling, a student failing to hand an assignment in on time or simply issues with attendance rates – individual or on a broader basis.

Attendance Tracking

Speaking of which, patterns in absenteeism or worrying trends with regard to any aspect of attendance can be picked up on, tracked and reported with a retention management system. Issues with early exits and tardiness can be brought under control, before they become problematic.

Student and Parent Portals

Lastly, providing learners with quick and easy access to their own candidate profiles can motivate improved self-management and communication with both teachers and faculty members. Sample information accessible via student and parent portals may include class schedules, grades and test results, course registration information, payment details, transcripts of lessons and so on.

In Summary…

The importance of prioritizing retention management in all higher education settings cannot be overstated. While nothing can substitute the hard-fought efforts and determination of faculty members to keep students on board, an advanced retention management system can provide invaluable insights for actionable decision making.