The growing currency of human values in higher education

If there was ever a doubt that a powerful cultural shift is underway — one that recognizes the importance of human values even in arenas where shareholder value has ruled supreme — it was crushed on Monday, Aug. 19. It was on that day that the 181 CEOs of the Business Roundtable, a Washington, D.C.based association whose members are chief executive officers of major U.S. companies, announced an initiative that reversed a decadesold, fiercely held position that corporations exist principally to serve shareholders. The Business Roundtable’s shocking decision upended the capitalist mantra of maximizing profits at any cost to a more holistic goal of looking out for the wellbeing of everything the company’s actions affect. What would cause such a tectonic shift, and is it real or just window dressing?

Those of us who have devoted our careers to higher education have seen this tipping point coming for a long time based on a combination of economic factors and accumulated demographic forces. Business Roundtable Chairman Jamie Dimon himself said a key motivation for the new statement was that “the American dream is alive but fraying.” Demographically, millennials are now occupying positions of influence and Gen Z is coming of age (the oldest cohort entering the workforce or college). Both generations are the first not to do as well economically as their elders (Gen X and baby boomers) leading to a growing sense of inequality and distrust of institutions.

Even as the institution of the Catholic Church itself has struggled in recent years to retain younger members, the Catholic Mercy values upon which the University of Saint Joseph is founded are clearly more relevant than ever in attracting students seeking a meaningful education. Driven by the growing influence of Gen Z and millennials, there is an accelerating culture shift to values of fairness, inclusion and diversity. It is important to recognize that the people who are demanding this shift are demanding action. They are serious about wanting to buy from, work for and invest in companies that serve a higher purpose. At the same time, as a result of growing economic inequality, students are demanding more hard value in higher education, not only in terms of

Incoming students are preparing for careers that are less focused on accumulating wealth and more directed to meaningful work that provides financial security while also contributing positively to the world.

cost per degree but also in relevancy and connection to workforce.

Today’s college student expects their education to be connected as closely as possible to the workplace. More and more our focus as educators is to connect the classroom to the job site. As educators, one of our most important roles is to help students find their potential in the classroom, the workforce and society. Far from being the Me Generation, the incoming students at USJ are primarily attracted by our commitment to our Core Values, including academic excellence, compassionate service, respect/integrity and multiculturalism/diversity. They are preparing for careers that are less focused on accumulating wealth and more directed to meaningful work that provides financial security while also contributing positively to the world as a whole. It is important to them that as a result of their efforts, all boats will rise.

For the clearest indicator of how this cultural shift is shaking up the way higher ed is being evaluated, you need look no further than the latest metrics employed by U.S. News and World Report in their annual college rankings. There is a new focus on categories such as Best Value Schools (where USJ ranked second in Connecticut to Yale) and Top Performers on Social Mobility, measuring a school’s success at supporting and graduating students from a variety of socioeconomic backgrounds (where USJ ranked first in the state). Being in the fortunate position of welcoming and working with this next generation of college students so focused on an education with real world value yet founded on powerful human values, I can’t help but feel very positive about our collective future.

Rhona Free is president of the University of Saint Joseph in West Hartford.

Elizabeth Conley / Houston Chronicle Jamie Dimon, chairman, president and chief executive officer of JPMorgan Chase, says “the American dream is alive but fraying.”