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This briefing outlines five insights facilities leaders should keep in mind when navigating deferred maintenance decisions, as well as strategies and resources to help you address your backlog, including case studies from institutions that have successfully addressed complex deferred maintenance decisions.
Watch our 2-minute video to learn how to create a budget model that best fits the financial needs and strategic goals of your institution.
As institutions grapple with COVID-related expenses—and anticipate future budget shortfalls—some have begun furloughing staff to temporarily reduce salary costs. While furloughs are an attractive alternative to layoffs, most institutions haven’t considered furloughing staff since the Great Recession—and today’s circumstances are quite different than they were a decade ago. As a result, leaders are adapting their historic furlough approach to the COVID-19 context.
Every institution has opportunities to redesign processes and organizational models to improve efficiencies and service quality. Our resources help leaders and staff identify the greatest opportunities for improvement on their campus, prioritize them, and execute—to the tune of significant cost savings. They also help leaders get buy-in for change with even the most resistant staff.
Amid the shift to remote operations, IT teams must identify opportunities to contain costs or increase efficiencies to manage increased workloads and offset emergency spend. Our resources help leaders prioritize new projects, optimize purchases—both centrally and locally, and creatively use student labor to respond to workload surges.
As governments around the world scramble to respond to COVID-19’s financial impacts, many countries have introduced relief packages for their respective tertiary or higher education sectors. In most instances, government relief accounts for just a fraction of universities’ expected losses. Higher education providers in some countries are receiving no direct emergency funding at all, with policy changes making up the bulk of government action. To make sense of the different support packages and policy changes affecting HEIs, EAB has put together a short summary of where universities stand in terms of relief in different corners of the globe.
Faculty and staff often correlate a reduction in academic costs with a reduction in quality. In reality, institutions can realize savings and promote excellence by reallocating existing resources to high-impact, mission-aligned activities. The resources below highlight both immediate savings opportunities from increased instructional efficiency and longer-term opportunities to increase instructional productivity and rightsize the academic portfolio.
Many institutions are considering wholesale budget model changes to reinforce financial goals and strategic priorities, but there isn’t a uniform “one-size-fits-all” model that every institution should emulate. Learn how to design custom models that align with your institution’s unique strategic priorities, mission, and culture.