The Importance of Benchmarking in Higher Education

Even before the COVID-19 pandemic, institutional expenses often exceeded revenues at public and private colleges and universities alike. With tuition and fees covering only a fraction of operating costs, colleges and universities have been forced to rely on other forms of revenue, including grants, state appropriations, investments, auxiliary income (such as room, board, and dining), or their endowments.

As the enrollment cliff nears and inflation persists, institutions must ensure that their #1 line item - their people - are aligned to the mission and needs of the institution. Understanding areas of overlap and opportunity at the job activity line item - not just the role or department - is essential for precision staffing and budgeting decisions.

Download the eBook to learn:

• What labor cost benchmarking is and how it works
• Why this analysis is critical for colleges and universities
• Where to start to conduct this analysis at your institution