There are several ways that universities can increase revenue through integrating systems or augmenting processes with talent data from a 3rd party Universal Talent Passport that it issues to its students. These include:
- Talent analytics services: By integrating talent data from Universal Talent Passports into their analytics systems, universities can offer data analytics services to employers and recruiters. This can provide valuable insights into the skills and competencies of the university’s students and alumni, as well as help employers identify high-potential candidates for recruitment. Universities can charge a fee for these services, generating additional revenue.
- Recruitment services: Universities can use Universal Talent Passports to connect their students and alumni with job opportunities and recruitment events. By partnering with employers and recruiters, universities can provide a pipeline of high-quality talent, and charge a fee for recruitment services.
- Credential verification services: Universities can use Universal Talent Passports to verify the credentials of their students and alumni. By offering credential verification services to employers and other organizations, universities can generate additional revenue.
- Continuing education and training services: By using Universal Talent Passports to track the skills and competencies of their students and alumni, universities can identify areas where additional training and education may be beneficial. Universities can offer continuing education and training services to students and alumni, charging a fee for these services.
Overall, integrating systems or augmenting processes with talent data from a 3rd party Universal Talent Passport can provide universities with new opportunities to generate revenue through the provision of value-added services to employers, recruiters, and other organizations.