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Business Affairs

Higher education's business model is under threat from growing price sensitivity, demographic shifts, and increased competition. We can help campus leaders adapt, set strategy, and drive change in the new financial reality.

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“Without the conversation and [EAB] expertise, we wouldn’t have gotten what we needed to prepare so well for our upcoming budgeting season.” – Chief Operations Officer, Private Research University

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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.

The precise financial impact of the COVID-19 outbreak is still unclear, but higher education institutions are preparing for the worst. Explore this Roadmap for five steps to create a COVID-19 financial contingency plan.

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.

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