Prometric Survey Shows that Pockets of Strength Exist in Credentialing Industry, Despite the Economy
BALTIMORE, MD. July 07, 2009 – The global economic downturn is having an impact on some professional credentialing programs, according to a survey recently conducted by Prometric, a leading global provider of technology-enabled testing and assessment services. The survey, which was designed to gauge the impact of the economy on certification and licensure programs, involved credentialing organizations, primarily within North America, and spanning the many market spaces served by Prometric, including: Healthcare, Information Technology, Associations, Academic Institutions, Financial Services, Government Organizations and Professional Services. These organizations, and the professionals to whom they grant credentials, directly influence the nation's pool of available talent and are a valuable indicator of the economy's overall health.
The one consistency across all market spaces surveyed was the view that maintenance and upkeep of current or existing exams is critical, even in a down economy, and this seems to be a priority for most responding organizations. The survey also demonstrated that economic conditions are having more of an impact on credentialing providers operating in certain market spaces, with about a third reporting the need to alter their demand generation strategies to adjust to economic conditions.
Other key findings include:
• International expansion seems to be a slight catalyst for growth of credentialing programs;
• The economic downturn is generally not applying pressure to exam prices; in fact, nearly 10 percent of respondents report an increase in exam prices;
• The credentialing programs of those organizations in the Healthcare market space were more adversely impacted by the economy than any other group. Information Technology was the second most adversely impacted;
• Professional Associations is the market space least likely to have decreasing test volumes, followed closely by state or federal government agencies;
• Organizations who reported that their test volumes had been adversely impacted by the recent downturn were taking the most action to combat those conditions by making changes to their growth strategies. They are almost twice as likely to launch new exams, nearly three times as likely to expand their testing program into new geographies and more than twice as likely to retire low volume exams.
Bill Murtagh, Senior Vice President, Client Services and Sales at Prometric, stated, "Since there are distinctions between the requirements for licensure and certification programs it is certainly logical that some market spaces are more susceptible to the economic cycle than others, though it is notable that almost all organizations seem to recognize the importance of keeping existing exam content up to date. In addition, as globalization continues and countries increasingly rely upon each other for essential services and expertise, there seems to be a general push toward establishing internationally accepted standards of practice. This supports our supposition that those test sponsors who are able to expand their assessments into the global marketplace can mitigate adverse economic conditions and accelerate their growth."
About Prometric
Prometric, a wholly-owned subsidiary of ETS, is the recognized global leader in technology-enabled testing and assessment services. Its comprehensive suite of services, including test development, test delivery and data management capabilities, allows clients to develop and launch global testing programs as well as accurately measure program results and data. Prometric reliably delivers and administers more than seven million tests a year on behalf of 450 clients in the academic, professional, healthcare, government, corporate and information technology markets. It delivers tests flexibly via the Web or by utilizing a robust network of more than 10,000 test centers in 163 countries. For more information, please visit www.prometric.com.
