Higher Education: A pathway for successful cost reduction

Unexpected declines in revenue have exposed ‘rusted-on' costs that have grown steadily over many years. In an uncertain environment where options appear limited, university leadership need to focus on factors they can control to manage their organisation out of financial stress.

In our publication, ‘Higher Education: Asset solutions for cash challenged universities', we encouraged university executive leadership teams to explore new thinking and ideas to refresh and monetise their real estate footprint as they reshape for a sustainable future. Continuing with the theme of new thinking, this publication examines the three success factors that higher education providers should consider in their cost reduction approach. Successful delivery of cost reduction programs will not only be key to managing immediate cashflow challenges but ensure universities have optionality moving forward. A comprehensive self-assessment is provided at the conclusion of this article for higher