The State of the Industry in 2022: New Findings From a Survey of K-12 Companies
The vast majority of education companies in the market have rebounded from the worst days of the pandemic. Big opportunities — and myriad uncertainties — loom for those organizations on the horizon.
That’s the picture that emerges from EdWeek Market Brief’s new, third annual State of the Industry special report, released this week. The in-depth analysis is based on a survey conducted this summer of 446 education company officials — 80 percent of whom serve in executive or managerial roles.
The findings in the 52-page report give organizations working across the market a key tool to compare their experiences and check their assumptions against those of their peers.
As with the past two reports, this year’s State of the Industry analysis offers survey data on K-12 businesses’ revenues — this year, both projected and actual revenues. It also looks at their investment in their different teams across their sales, marketing, product development, customer success/implementation, and market research departments. And it explores their efforts to support and maintain diverse workplaces.
In addition, for the first time this year, the reports offers intel on education company employees’ views on their compensation, the likelihood they will leave their jobs, and on their ideal remote vs. in-person work environment. The report also offers insights on how likely education companies are to make mergers and acquisitions in the next year.
Among the highlights in the new report:
- The vast majority of education companies say their revenues rose over the past 12 months, and they’re bullish about what the future holds.
- Despite the widespread upheaval brought on by the “Great Resignation” across the economy, most education company employees are not looking to jump ship. Those that do want to leave are motivated by salary concerns.
- The vast majority of organizations say they’ve taken steps to build and maintain diversity in their workforce, though the kinds of actions they’re taking vary, from new approaches to recruitment to management training to institutional targets around employee retention.
- The landscape for dealmaking is frothy, and many education companies plan on remaining actively immersed in it. Roughly a third of education companies are considering making acquisitions in the next year, and just as many say they will pursue venture capital.
- The recent wave of cultural/political battles are playing out in the state markets where education companies do business. Nearly 70 percent say they’re working in a state that approved a policy restricting classroom discussions of racism/gender.
- The federal “funding cliff” is on the minds of many K-12 businesses. About 1 in 3 company officials say they expect it to have an impact on them, even if it hasn’t already.
Those are just a few of the highlights. The report — available exclusively for EdWeek Market Brief members — is full of actionable intel and peer-to-peer insights for companies trying to make sense of the education landscape heading into the fall, and beyond.
To download a copy of the report, or learn more about becoming an EdWeek Market Brief member, go here.
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