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More100 Tactics for Immediate Labor Savings
How higher education leaders should approach labor cuts during COVID-19
In response to COVID-19 budget woes, college and university leaders are considering widespread layoffs to remain solvent. Watch this short video to learn why that happens, and how you can secure sustainable cost savings that won’t jeopardize staff morale.
How to create a more flexible admin workforce to contain costs and respond to evolving operational demands
Here are three tactics from our 2014 study on Bending the Administrative Labor Cost Curve that leaders can implement now to help slow labor cost growth over time and build a more nimble—and sustainable—administrative workforce in the long run.
COVID-19 has decimated auxiliary revenue streams. Here are 200 alternative revenue sources to consider to compensate.
The COVID-19 pandemic continues to curtail institutions’ traditional revenue streams. With FY21 enrollment and auxiliary revenues uncertain, many leaders are looking for alternative revenue streams to tap into to cover ongoing operating costs and new emergency expenses.
How one institution transitioned from transactional to strategic HR—and what all business leaders can learn from their story
Given the unprecedented impact of COVID-19, university leaders are increasingly turning to HR as a strategic partner for planning and executing on institutional goals. This has posed a challenge for many HR leaders and their teams: they want to provide more strategic support, but they are bogged down by transactional work. The University of Virginia (UVA) tackled the challenge of strategic human resources through a multi-year HR transformation project called “Ufirst”.
5 myths about financial exigency
While financial exigency is still a final recourse for struggling institutions, the financial realities of the current crisis mean more senior leaders are considering the tactic. But because financial exigency declarations are relatively uncommon, misconceptions about what this decision means for a campus abound. To help leaders separate fact from fiction when weighing financial strategy decisions, we identified five common myths about financial exigency—and the information you should promote instead.
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MoreAssessing and Responding to the Financial Impact of COVID-19
In this session, we will share benchmarking data from a recent EAB survey of higher ed business leaders on current financial status and planned next steps, as well as case studies of emerging cost reduction efforts in the COVID-19 crisis.
The Finance Function of the Future
In this four-part series, we explore the ways that business leaders are transforming their finance functions to expand their strategic impact.
