Manual practices and an honor system are costing higher education $451 million per year
What’s the real impact of employee absenteeism on your institution? In a recent study of colleges and universities, 53 percent of respondents said they rely on manual processes like three-part leave slips and handwritten time sheets to track and approve time and absence. Consequences include human error and the potential for erroneous absence tracking. But inaccurate time tracking also impacts productivity, FMLA compliance, revenue, and pay-outs upon separation or retirement.
Creating flexible budget models to accomplish sustainability goals
Presidents, CFOs, and trustee finance committee members will not travel too far down any paths related to sustainability until their associated costs are identified and thoroughly assessed.
Unfortunately, these considerations often still take place within confusing, partially-informed situations on campuses. Budgeting strategically to accomplish multiyear sustainability objectives is among the most significant challenges for a leadership team. Optimally, there needs to be a budget process in place that can flexibly address key sustainability needs at any point in a fiscal year.