Follow Dani Facebook
Email Dani Email
Education
Mar 15, 2019

The Benefits of Creating Business Relationships with Colleges

Sponsored Content provided by Dani Somers - Assistant Director of Admissions, North Carolina Wesleyan

This Insghts article was contributed by Katie Farrell, Associate Dean of Adult & Professional Studies at NC Wesleyan College.

It is becoming increasingly common for companies to partner with colleges to create opportunities for employees to advance their education. Examples include the Apple-Ohio State, Starbucks-Arizona State, AT&T-Georgia Tech, and Glaxo Smith Kline-University of North Carolina partnerships. 

Although the focus of these relationships differs, many of the core reasons for these partnerships prove to be mutually beneficial. 

Typically, colleges willingly participate in opportunities that provide students a valuable learning experience. College environments provide an intelligent, talented and energetic pool of faculty and staff with an interest in devoting time and resources to business related projects.  Businesses are likely to find a viable partner in local or regional colleges. 

Benefits for businesses range from simple internships to issues with global implications. Internships and mentorships can provide students real-world experiences while offering businesses new perspectives on how to view problems. Internships may also open an avenue for businesses to recruit and train potential employees while providing exposure to the business environment. 

Colleges are rich sources of talent that may lie outside company expertise. Most colleges are amenable to allowing individuals or groups of students to work on projects that can be tied directly to an academic endeavor. Degree options, such as business, leadership, computer information systems, marketing and logistics, offer a content-specific resource that can enhance business operations. 

Often, company employees have not taken advantage of higher education. A college partnership can provide an opportunity for these employees to pursue the completion of a degree. Many colleges offer alternative scheduling for the working adult student. Degrees and scheduling options are available on a non-traditional college schedule and are increasingly offered online. 

Many colleges offer a corporate plan, allowing employees to defer the cost of tuition through an employee reimbursement plan. Today more than 50 percent of companies help fund undergraduate coursework (Carlson). 
College talent is a commodity sought by many businesses.  Some experts predict that by 2020, 65% of jobs will require education or training beyond a high school diploma (Carlson). 

In order for businesses to remain competitive, recruiting and hiring the most capable candidate is an advantage.  This benefit is not limited to filling vacant positions but is also important in order for businesses to retain existing employees.  A study by the Lumina Foundation found that companies who offer educational assistance found a positive return on investment of 129-144% due in part to increased retention (Carlson).   

Businesses benefit in additional ways from an educated workforce. Employees offered educational benefits are more loyal as they feel valued by the business. Companies offering educational benefits experience a decrease in turnover, which leads to longer tenured employees. Flexibility in the market is yet another advantage as employees more easily adapt to and respond to change. 

The benefits of businesses creating relationships with colleges can be small-scale or wide-ranging. The research is clear however – a partnership with a college offers distinct benefits to companies, employees and colleges. These benefits should be attractive to any company that wishes to remain competitive in a challenging economy. 

References:
https://www.ncwc.edu/adult
https://www.recruiter.com/i/why-its-critical-to-invest-in-employee-training-and-development/
http://www.educationandcareernews.com/higher-education/the-4-core-benefits-of-corporate-university-partnerships
https://www.forbes.com/sites/schoolboard/2017/01/17/college-business-partnerships-can-solve-the-higher-education-affordability-crisis/#167998b7513b
https://www.educationdive.com/news/5-trends-poised-to-shake-up-higher-education-in-2018/513772/


Katie Farrell is the Associate Dean of Adult & Professional Studies at NC Wesleyan College. She holds a Bachelor’s of Business Administration from Mercy College, a Master’s in Higher Education Administration from Kaplan University and is a Doctoral student at Northeastern University. Katie joined NC Wesleyan in 2011 to manage the start-up of the partnership with Cape Fear Community College and the opening of the Wilmington location. NC Wesleyan College provides students the opportunity to earn their degree in a format designed specifically for the adult learners to meet personal, career and life goals. For more information, visit https://ncwc.edu/adult/ or email [email protected]

Dani is the Assistant Director of Admissions for North Carolina Wesleyan College’s Adult & Professional Studies. She started her career with NC Wesleyan College in 2016. NCWC offers students the ability to obtain their degree in an affordable and conveniently formatted program. Please visit www.ncwc.edu/BelieveNow or email [email protected] for more information. 

Gwbjblockad1 2211910562
Ico insights

INSIGHTS

SPONSORS' CONTENT
Mcwhorter 0005

CIE Idea Test Lab Demo Day: Insights by UNCW Senior Tia Cook

Heather McWhorter - UNCW Center for Innovation and Entrepreneurship
Cfss headshots parker robert webversion 21422121214

Duke Energy Will Pay You Up to $9,000 to Go Solar with a Battery

Robert Parker - Cape Fear Solar Systems
Burrus rob headshot 300x300

Cameron School of Business Seeks ILM Business Leaders to Serve as Mentors

Robert Burrus - Cameron School of Business - UNC-Wilmington

Trending News

ILM Ranks As Top Airport In Seat Capacity Growth

Emma Dill - Jul 10, 2025

Economic Development Funds Explained

Emma Dill - Jul 9, 2025

Wilmington Ranks High In Apartment Search Company's Renters Report

Rickie Houston - Jul 8, 2025

Research Project Gets $1M Infusion

Staff Reports - Jul 9, 2025

UNCW Names Burrus Interim Provost, Mautz Interim Business School Dean

Emma Dill - Jul 9, 2025

In The Current Issue

Show Goes On For Training Programs

Duke Fire, the program director of film and video production at Cape Fear Community College, said there’s uncertainty about when things will...


K38 Baja Grill Opens Sixth Location

Live.Eat.Surf Restaurant Group was founded 32 years ago by Josh Vach when he opened his first restaurant and K38 Baja Grill location on Olea...


Research Can Be A Pain In The Neck

The Neck Strength Assessment Tool and corresponding mobile app help identify individuals at risk for traumatic brain injuries, whiplash and...

Book On Business

The 2024 WilmingtonBiz: Book on Business is an annual publication showcasing the Wilmington region as a center of business.

Order Your Copy Today!


Galleries

Videos

2024 Power Breakfast: The Next Season