Business-to-business (B2B) partnerships are becoming a lifeline for colleges and universities to drive enrollment and build lasting relationships with employers.Â
But success in B2B depends on understanding a key distinction: Workforce Retention vs. Workforce Development.
Workforce Retention focuses on helping employers retain their talent by offering educational benefitsâtypically through discounted access to existing degrees or courses. This is a strategy we see with large, national employers like Starbucks and Chipotle, who offer educational perks to keep their workforce engaged.
Workforce Development, however, is more about upskilling employees to meet the evolving needs of a business. It often requires tailored solutions, such as custom courses, certificates, or degree programs designed specifically for an employer. For instance, CityUâs custom program for Boeing employees exemplifies this approach.
So the next time youâre going out to engage employers about a potential partnership, make sure to understand if theyâre looking to retain their base, or develop them. While both are important, one is almost always more critical than the other.