Strategies to Improve Student Retention Rates and Lower Acquisition Costs

Improving Student Retention: A Proactive Approach

Dr. Drumm McNaughton speaks with Carey Dukes, Assistant Professor of Management at North Greenville University, about innovative strategies to improve student retention and readiness for college.

Key Discussion Points:

• The current state of student retention in higher education
• The concept of "Academic Armageddon" and its impact on first-year students
• A new model for improving student readiness before college begins
• The six variables of student readiness
• Implementing a pre-college readiness course
• Real-world results and success stories
• Long-term benefits of improved student preparation

Retention Challenges in Higher Education:

• 59% of college students don't graduate within four years
• 30-35% of students transfer after their freshman year
• High attrition rates lead to financial strain on institutions and increased student debt

The Readiness Course Model:

• Implemented between high school graduation and start of college
• Focuses on time management, study techniques, and critical thinking
• Addresses six key variables: context, value of degree, informational assessment, self-belief, overall readiness, and effort

Benefits of Proactive Preparation:

• Reduced student anxiety
• Academic head start
• Improved self-efficacy
• Better retention of scholarships
• Increased likelihood of on-time graduation

Three Key Takeaways for Higher Education Leaders:

1. Analyze current retention rates and their trends
2. Assess the financial impact of improved retention
3. Evaluate existing programs and consider implementing a comprehensive readiness course

Final Thoughts:

The skills taught in the readiness course are transferable and benefit students throughout their academic careers and beyond. He calls for higher education institutions to take bold steps to ensure student success from the moment of acceptance.

Read the transcript or extended show summary on our website: https://changinghighered.com/

#StudentRetention #CollegeReadiness #HigherEducation

About Our Guest

Carey Dukes is a dynamic leader with over 30 years of expertise in business management and higher education. Currently an Assistant Professor of Management at North Greenville University, Carey’s career spans from serving as a CEO in multiple companies to driving innovation and efficiency in large-scale transportation operations. He holds a Doctorate in Business Administration and is renowned for his strategic insights into organizational development and change management. Drawing from his experiences as a first-generation college student, Carey has become a thought leader in addressing student retention, one of higher education's most critical challenges. He authored a groundbreaking book and developed a model to improve student readiness and retention, offering institutions actionable strategies to reduce dropout rates. Carey’s unique blend of corporate acumen and academic research provides fresh perspectives on both business and education, making him an engaging podcast guest on topics of student success, leadership, and transformative growth.

About the Host

Dr. Drumm McNaughton is the founder, CEO, and Principal Consultant at The Change Leader, Inc. A highly sought-after higher education consultant with 20+ years of experience, Dr. McNaughton works with leadership, management, and boards of both U.S. and international institutions. His expertise spans key areas, including accreditation, governance, strategic planning, presidential onboarding, mergers, acquisitions, and strategic alliances.

Dr. McNaughton’s approach combines a holistic methodology with a deep understanding of the contemporary and evolving challenges facing higher education institutions worldwide to ensure his clients succeed in their mission.