2024 shed insightful light on the top risks faced by colleges and universities, according to a new report from United Educators: “Top Risks Report: Insights for Higher Education.” Based on responses from over 194 institutions, 71% identified enrollment as the biggest risk.
To combat enrollment challenges, institutions can launch innovative academic programs more aligned with market demand, revise online programs and course offerings and reduce admission selectivity among other mitigation efforts, the report suggests.
Data security fell to second place, identified by 56% of institutions, down from 73% last year. Even with this decline, data breaches, ransomware and phishing remain critical threats. Institutions are encouraged to protect themselves by focusing on improving cybersecurity, offering effective data security training and maintaining a data governance strategy.
A significant increase was seen in regulatory and legal compliance, which rose by 8 percentage points to 29%, landing fifth on the list. The report links this shift to increased federal and state scrutiny. “This increase may reflect federal and state governments’ increased attention on higher education,” says the report.
The report shows that the top nine risks remained largely consistent with previous years, reflecting a steady landscape. However, three new risks emerged in the top 10 for 2024:
- Public safety climbed to ninth place, with concerns about campus violence and crime.
- General premises safety tied for 10th place, emphasizing hazards like slips, trips and falls.
- Political and societal pressures also tied for 10th, highlighting growing distrust in higher education and political attacks on institutions.
This year, the external pressures category was split into external economic pressures and political and societal pressures, with the latter ranking among the top 10.
Survey respondents also flagged emergency risks, particularly adversarial regulation (4.6) and political climate and instability (4.3). These risks reflect growing skepticism toward higher education from both the public and government. However, the report notes that “the election did not appear to influence how respondents view these two new emerging risks.”
According to the report, respondents’ perspectives on artificial intelligence varied, with this category viewed as either a “major emergency risk” or a “routine technological tool.”
The survey found variations across institution types, as well. Research universities prioritized data Security, athletics, and academic research, while placing less emphasis on enrollment and facilities and deferred maintenance, likely due to larger budgets and more selective admissions.
Athletics risks were most significant for NAIA and NCAA Division 1 schools but less so for NJCAA colleges and institutions with no athletic programs.
