Higher education worldwide is facing unprecedented challenges, driven by rapid growth in mobility, communication, technology, and demands for skills and credentials – all fostering disruption of the higher education marketplace.
At the same time, other industries – including healthcare, banking, and automobile and electronics manufacturing – have faced similar forces and responded with an unprecedented wave of mergers across these sectors. Merging of higher education institutions in the United States has been more institutionally opportunistic and less state sponsored in comparison to other nations, but nevertheless, these unifications provide lessons learned.
The decision to consolidate institutions is never easy, but should be considered when there is a desire to significantly improve service quality. In this report by the TIAA Institute, EY-Parthenon Managing Director Haven Ladd and Executive Advisor Gib Hentschke share considerations for institutions around mergers, including strategic planning, seven critical elements for merger success, and cost and gains of mergers.