How Position Control Can Help Your Higher Ed Institution Reduce Labor Costs

Between an increase of 5.2% in inflation and 8.6% in staff wages, the cost pressures continue to mount for higher education. At the same time, EAB analysis shows that 62% of institutions will see flat or shrinking enrollments by 2030, impacting the ability to offset increased costs with revenue.

Amid these financial pressures, institutions must explore cost-reduction strategies. Yet, common tactics for decreasing costs like restricting travel, reducing fringe benefits, and even cutting academic programs yield small or delayed savings. To significantly reduce costs, colleges and universities must focus on major cost centers, like labor.

• 55%

  of institutions’ operating budgets are labor costs