A new year brings new resolutions. It's a time that we reflect on the changes we want (or need) to make and and resolve to follow through on those changes. According to The University of Scranton, Journal of Clinical Psychology the top resolutions for 2013 are: Lose Weight, Get Organized.
#1 Lose Weight: Trimming fat is not easy. Budget constraints make us do more with less but where do we cut with the challenges we face? Challenges may include population diversity, increased competition, managing growth, keeping pace with new technology and expanded demands for education. Achieve enrollment goals by focusing on strategic indicators (institutional and enrollment). Build an enrollment data tracking mechanism for example to understand your key performance indicators (KPI's). KPI's help set benchmarks and measure the success of your strategies and tactics through quantifiable data to determine effectiveness of enrollment management plans. KPI's help you assess your enrollment operations, understand the cost to recruit a student, and help you allocate your resources efficiently. Examples of KPI's may include:
- Recruitment KPI's- number of prospects, inquirers, applicants
- Retention KPI's- number of persisters, cohorts, drop-outs
- Operational KPI's- dollar revenue, head count, dollar/responses expenditures
#2 Get Organized: Enrollment management is a powerful concept which takes time, commitment, and planning to implement. Optimizing your enrollment management operations is critical to the success of your university. Create a top-down comprehensive process to help achieve and maintain optimum enrollment (recruitment, retention, and graduation rates). Develop comprehensive strategies to manage enrollments. These strategies include: recruitment (identifying prospects and yield), marketing (place, product, price, promotion), and retention (course, program, student retention).
Resolve to implement a comprehensive strategy to manage enrollments. Managing enrollments will increase productivity, service, quality, and give your university a competitive edge.