Areas of Importance
Areas of strategic importance
Based on an analysis of the top 10 issues facing higher education, the Task Force developed five areas of focus that will have strategic importance for the University to advance its position in the future as a Catholic, Jesuit institution of higher learning in Chicago. They are:
- Competitive positioning
- Enrollment and financial aid
- New markets: adult and online
- Talent and resource management
FOCUS AREA 1: COMPETITIVE POSITIONING
- Undergraduate experience
- Catholic health care leadership formation
- Environmental sustainability
The University currently promotes these assets, but the story is not always well-tracked or communicated. To date, Loyola has not declared these differentiating assets as what the University will be known for.
Loyola has a distinguished reputation as the destination school for the premier undergraduate experience. Urban environmental sustainability, health care leadership formation, and a comprehensive set of international educational programs within a Jesuit Catholic context are Loyola's differentiating assets. There is alignment throughout the University to strengthen these areas of differentiation.
FOCUS AREA 2: ENROLLMENT AND FINANCIAL AID
Loyola is a first-choice destination school. Because traditional undergraduate enrollment will not increase, the University needs to recruit more international and adult students to grow overall enrollment and decrease the discount rate. Priorities should be on students who:
- are interested in Loyola's premier undergraduate experience;
- have the potential to succeed;
- can manage the cost;
- are representative of the global community.
FOCUS AREA 3: NEW MARKETS - ADULT AND ONLINE
- Select undergraduate courses were piloted online in Summer 2011. Offerings continue to expand and support strategies to improve 4-year degree completion rates.
- Although the Student Information System allows students to search for online courses, basic and/or comprehensive information on Loyola's existing online offerings can be difficult to find.
- Current development, marketing, and support strategy is not unified. This makes it hard for schools to deliver new programs, train faculty, recruit students, etc.
- Loyola's presence in the adult education market is not yet mature; incremental opportunity exists to build attractive programming (full and part-time).
Vision: Well-developed strategy for growth in adult and online markets; clear programs, markets, and enrollment targets identified and tracked; market demand and revenue potential is estimated; investment needs are identified (faculty, technology, etc.).
Metrics for success
- Online offerings are collected, organized, and marketed.
- Enrollment targets of 1,250 adult degree completion students are tracked and met.
- Quality indicators for academic programs, technology platforms, and faculty/student support services are established and exceeded.
FOCUS AREA 4: ENDOWMENT
- Total endowment (HSD and Lakeside) was #388.7M as of 6/30/11.
- Endowment supported $9.7M in operating expenses out of a $419M operating budget, including $2.9M in scholarships (only 2% of total financial aid budget).
- Annual contribution to endowment from outside fundraising was $8.8M in FY10 and $5.1M in FY11.
- For FY12, to decrease Loyola's undergraduate discount rate by 1 percent we would need an incremental $2.2M funded from endowment for financial aid.
- Our efforts to advance the schools of Law, Business, and Medicine/Nursing are well underway, involving such things as endowments for each of these schools ($20M, $40M and $100M respectively) to date.
- Named gifts for Quinlan School of Business and Corboy Law Center
- Goals for individual fundraisers and schools are not well-defined.
- Scholarship campaign goal is $80M, including $20M University match.
Vision: Decreased reliance on tuition revenue to fund financial aid.
Metrics for success
- Set target (i.e. lower discount rate to 35% in 3-5 years).
- Establish a defined growth plan for endowed scholarships.
FOCUS AREA 5: TALENT AND RESOURCE MANAGEMENT
- Research is needed on the costs associated with the delivery of academic programs and services provided students.
- The evaluation process of academic and non-academic programs is not well defined; difficult to determine what to sunset.
- Specific teaching load targets for tenured vs. non-tenured faculty by school are not consistently implemented according to goals.
- Faculty tenure and rewards system is modeled for a research-driven faculty. Opportunity exists to develop an evaluation and rewards program recognizing excellent teaching and service for full-time faculty.
- Undergraduate and graduate performance indicators are used to track strategic priorities. Institutional goals, however, are not tracked with common indicators across schools and operating units.
- Opportunities exist for administrative areas to revamp old business processes that could improve student service and become more efficient.
- There has not been an institutional decision to develop future leaders through organized succession planning exercises.
Loyola becomes a results-driven university that uses measurable goals to achieve its mission and help students succeed. The University offers incentives to promote teaching, research, and service—with multiple tracks for advancement. Succession and leadership development plans are systematically developed.