In our last blog post, we examined how our Higher Education Accelerator is uniquely positioned to answer some of the fundamental questions that universities and colleges are experiencing on a daily basis. Namely, how to navigate the COVID crisis and provide top-quality education for students who will have spent more time at their home desk than their library or classroom. In the grand scheme of all things higher ed, this is only looking at half the puzzle. To be clear, we are in no way saying that the student aspect is not incredibly important. But institutions of higher learning, both public and private, are fundamentally complicated organizations, with a variety of departments and personnel that can make Fortune 500 companies appear rudimentary.
People management on all levels, especially within administration, faculty, adjunct, and staff, are fundamental to success. In 2020 this takes on a unique level of focus, as the removal of students and faculty from campuses presents new opportunities. Like cost savings, which has become essential as universities begin to cinch their belt a little tighter to make it through a full school. For example, administrative personnel may be deemed a little less essential, while formerly mandatory maintenance expenses that were required when buildings and grounds were used daily are now not necessary. And while cost savings is implemented, new roles and responsibilities emerge. Grad students may take on added teaching responsibilities or replace adjuncts for intro level courses, especially in an online capacity. New positions will open to manage the web applications that are now integral to success (such as online proctoring solutions), potentially creating new employment classifications in the organization.
The Promethean Analytics team has always believed that there is no such thing as a “one size fits all” solution, and even within our own Accelerators program, that is very much the case. Our unique expertise with higher education clients allows us to customize our Position Planning Solution to assess immediate questions and use Oracle EPBCS to provide teams with powerful answers. Our trademark custom calculations and dimensional parameters allow us to ramp up clients (quickly), taking disparate data sources and uniting it under the common power of Oracle EPBCS. Promethean’s deep knowledge of scenario planning and multi-dimensional modeling can prepare teams for extreme workforce changes and compare to budget or forecast with precision, providing guidance through some of the most extreme “what-if” scenarios.
At the same time, the many departments of the organization can reap benefits almost immediately. For fundraising and administrative teams, incoming and already accrued compensation from multiple funding sources can be divvied out to departments across the whole organization. From there, funding considerations can be drilled down even further as needed. From a finance and human resources perspective, bringing multiple data sources provides innumerable benefits. Oracle EPBCS allows users and whole teams to set permissions that can enhance collaboration on certain projects while locking down sensitive information, such as employee or student data, from prying eyes. Compensation management is streamlined, allowing comp and benefits for pooled, non-pooled, and adjunct positions to be united in one area. Paygrade adjustments of almost any type, like COLA or merit, can be applied from the platform, alongside the out-of-the-box inputs for earnings, benefits, and taxes. Our detailed knowledge of higher education needs allows us to provide clients with the granularity required for their organizations, such as creating filters or triggers to adjust calculations by bargaining unit and applying it to groups as requested.
This is just the tip of the iceberg of what we can do to help guide your team into the new school year and beyond. If you’re ready for a demo or need more information, email us at email@example.com for more information.