How three universities built a stronger, data-informed financial foundation.
Higher education has long faced challenges to contain costs while strategically investing in ROI-positive and forward-looking initiatives for the institution. COVID-19 only increased the pressure, especially as the Great Resignation impacted staffing levels and hiring costs.
A deeper dive into university financials with particular focus on labor costs, which typically accounts for 60% of institutional budgets, is essential. Financial leaders must be able to articulate how investments, like current staffing and future hiring, align with the overall mission in a financially sustainable way.
What's Included In This eBook
- How Auburn University, Kent State University, and Temple University tackled this growing challenge in three different ways in order to:
- Make more precise administrative investments
- Train and retain existing talent
- Evaluate cost efficiencies against customer satisfaction