PwC Saratoga TM - Bermuda College...2016/08/30 · PwC Contents 2 PwC Saratoga provides workforce surveys, benchmarks, and analytics. Our services enable organisational leadership

PwC Saratoga TM

2016 Human Capital Effectiveness AssessmentBermuda College Findings Report & DebriefJune 30th, 2016

Strictly Privateand Confidential

Revised – 8/30/2016

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PwC Saratoga provides workforce surveys, benchmarks, and analytics. Our servicesenable organisational leadership to make data-driven workforce decisions,

impacting everything from talent management and employee engagement toworkforce planning, performance management and mobility.

1 2 3 4 5Introduction Overview of

Saratoga and theBenchmarkingProcess

Our Findingsfor BermudaCollege

Next Steps andRoadmap

Appendix

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Engagement Objectives

The College was looking to ascertain where it had an opportunity to optimise its workforce investment through itsstructure, costs, and investment in its people based on comparator benchmarks with peer organisations. The scope ofthe engagement is summarised in the following:

• Understand Bermuda College’s strategy and high level future requirements to ensure we focus onbenchmark data that are highly relevant to the organisation

• Conduct Human Capital Effectiveness Survey (HCES) and assess Bermuda College’s comparative positionagainst peer organisations, identifying key areas of focus

• Provide recommendations and develop a high level road map for next steps to address risks and opportunitieswithin benchmarking findings

Additional metrics (outside of those measured in Saratoga) have been considered by the engagement team in light oftheir relevance to Bermuda College management. Note that we will not be providing recommendations based on out-of-scope opportunities however they have been considered in the development of the roadmap presented herein.

PwC People Analytics

People Analytics cananswer yourquestions

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#1: Workforce Costs &Rewards

#2: WorkforceStructure

#3: TalentManagement

#4: Workforce Flow

#5: FunctionalPerformance

Opportunitiesmoving forward

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Introduction

Overview ofSaratoga and theBenchmarkingProcess

Our Findings forBermuda College

#1: Workforce Costs& Rewards


#3: Workforce Flow


Recommendationsand Roadmap

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Our team worked with Bermuda College management to obtain a high-level understanding of the strategy and issuesbeing faced by the organisation to allow us to tailor our approach.

We refined our metric list based on discussions with management and knowledge obtained through review of keydocuments including the Strategic Plan and Employee Survey Results. In addition, we further refined our metric listbased on the following:

• A list of key metrics considered to be Key Performance Indicators (KPIs) in the Saratoga system, taking intoconsideration those KPIs that had adequate benchmarking information in the Higher Education peer group

• Our knowledge of other not-for-profit organisations in Bermuda and the metrics that are of note in comparison tothe Peer Group and a Local Comparator Organisation

In addition to the metrics available in Saratoga, the engagement team also made use of publicly available data formetrics specifically related to faculty and students. The source of the publicly available data is the National Center forEducation Statistics, specifically the Integrated Postsecondary Education Data System (IPEDS). In our analysis wehave only focused on metrics that have been deemed of high importance to the College.

Data elements were collected based on the metrics selected and validated by our team. We calculated metrics based onvalidated data and performed benchmarking, identifying key areas for consideration based on our experience andknowledge. This benchmarking exercise has formed the basis for the output and discussion presented herein.

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Our Approach

Understandcontext

Refinemetric selection

Analyseresults

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Note that all IPEDS figures included in this report refer specifically to those institutions classified as Publiccommunity colleges.

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The power of data is transforming the role of HR across all industries. The Saratoga HCES is a collaborative initiativeto support Human Resources (“HR”) and other organisational leaders make evidenced based people decisions. Areaswithin the scope of the HCES are outlined below:

The HCES contains benchmarks on 159 metrics relating to workforce performanceand support function effectiveness.

The results outlined in this document reflect Bermuda College’s (the College’s) and its peers’ data for the surveyperiod covering April 1st, 2014 to March 31st, 2015. PwC calculated 26 metrics based upon the data elementsprovided by the College. Peer group participants are listed in the appendix.

Workforce Costs &Rewards

WorkforceStructure

TalentManagement*

WorkforceFlow



FunctionalPerformance

Workforce Costs& Rewards

*Talent Management metrics were not in scope for this engagement

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4. Create Industry & Sub-Industry Benchmarks

1. Data Input Training & Support

2. Data Validation

6. Reporting Tool Training

8. Client Debrief

7. Analysing Your Results

9. Actioning Results3. Confirmation of Data

Validation by Your Team

5. Rigorous BenchmarkValidation

Benchmarking reportData validation & standardisation Customized client debrief



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Data Input

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Benchmarking Process

Insights ReportingBenchmark Creation

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Below is an executive summary of our analysis and three key workforce effectiveness opportunities your data ispresenting.

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Labour Costs per FTE and Total Costs per FTE are higherthan the Peer Group Median as well as the Local Comparatororganisation. Compensation Cost per Employee is 27%above the Peer Group Median and 8% above the LocalComparator. The College needs to continue to identifyopportunities for cost reduction and operational optimisation,through its compensation strategy.

The College has a significantly lower (71%)* Part-time FacultyHeadcount Percent than the IPEDS Average. It has also beennoted that the College has nearly double the G&A SupportStaff per FTE compared to the Peer Group Median. TheCollege should consider these metrics in conjunction with theStrategic Plan to identify any opportunities to consolidatesupport roles and/or look into the hiring of Part-time Faculty.

6.2%ExternalRecruitment Rate

External Recruitment Rate for the College is 61% below thePeer Group Median. This presents a risk that there may not besufficient new employees to promote innovation and ultimatelyattract more students to increase enrolment. This is particularlyrelevant given the 26% of Managers Currently Eligible forRetirement. This presents an opportunity to restructure in thecoming years in order to align with strategic objectives.

BermudaCollege

Peer GroupMedian

Local Comparator

$162,214

$83,714

$116,832

BermudaCollege

Peer GroupMedian

Local Comparator

6.2%

15.7%

8.6%

Bermuda College IPEDS Average

12%

41%

12%Part-time FacultyHeadcount Percent

$162,214Labour Costs perFTE



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Executive Summary

*Revised – 8/30/2016

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Notes

$162,214Labour Costs per FTE

$239,617Total Costs per FTE Bermuda

College($239,617)

Peer GroupMedian

($182,370)

LocalComparator($193,010)

Bermuda College’s Labour Costs per FTE and TotalCosts per FTE are 94% and 31% higher than the PeerGroup Median respectively. While we expect theCollege’s costs in these areas to exceed the Peer GroupMedian because of regional factors, it should be notedthat they are also considerably higher (39% and 24%respectively) than our Local Comparator organisation.The College should review compensation and identifyareas where costs can be managed more effectively.

The College needs to ensure that compensation isdesigned to attract key talent and employee segmentsthat will help drive their strategy. This will beespecially important in attracting high-demand facultymembers.

The College has slightly lower average benefits peremployee than the Peer Group Median. This suggeststhe total rewards program should be examined todetermine how effective it is in terms of meeting thehealth and wellness needs of staff.

Sick Days per FTE and Overtime Pay Percent comparefavourably to the Peer Group Median. Given the areasof employee disengagement noted in the EmployeeSurvey Results, it is of note that Sick Days per FTEremain well below our Local Comparator since thistypically increases with employees who are notstrongly engaged.

.2%Overtime PayPercent comparedto Peer GroupMedian of 1.84%and LocalComparator of0.07%

$11,884Average Benefits perEmployee – 11% lessthan Peer GroupMedian ($13,311)

4.6 Sick Days per FTE

– 57% less than our LocalComparator Organisation(10.73)

$85,902Compensation Costper Employeecompared to thePeer Group Median($67,499)

Metric Description Formula

Labour Costs per FTE The average compensation and benefits per full-time equivalent. Labour Costs / FTE

Total Costs per FTE The average operating cost per full-time equivalent. Operating Costs / FTE

Sick Days per FTE The average number of workdays missed due to illness per full-time equivalent. Sick Days / FTE

Overtime Pay Percent The percent of regular compensation cost devoted to overtime pay. Overtime Pay / (Labour Costs - Total Benefit Costs)

Average Benefits perEmployee

Average cost of benefits per employee where benefits are defined as ‘legally required payments,retirement and savings plan payments, life insurance premiums paid, healthcare benefit premiums orcosts paid out, and miscellaneous benefit payments.’

Total Benefit Costs / Headcount

Compensation Cost perEmployee

The average compensation cost per employee. Total compensation costs / FTE

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Workforce Costs and Rewards

BermudaCollege

($162,214)

Peer GroupMedian

($83,714)

LocalComparator($116,832)

Note: All cost metrics were calculated using audited FY 2014 figures.

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Contents0%Executives CurrentlyEligible for Retirementcompared to the PeerGroup Median (15.8%)

0 2 4 6 8 10 12

Bermuda College

Management Span of Control

117

0 100 200 300 400

Bermuda College

Executive Span of Control

37237

4.1%First Year of ServicePercent compared tothe Peer GroupMedian (0.2%)

2.7%Executive HeadcountPercent compared toPeer Group Median(0.8%)

Bermuda College must consider planning for theproportion of managers who may potentially leave theorganisation given the relatively high percentage ofManagers Currently Eligible for Retirement. Planningconsiderations may include knowledge transfer,succession planning, and potentially restructuringmanagement to ensure the College is able toeffectively manage accountability for its strategicobjectives, whilst delivering quality educationservices.

Given the relatively low Management Span of Controland the proportion of Managers Currently Eligible forRetirement, there is an opportunity for the College toconsider the organisational structure and identifyways to consolidate managerial roles/duties. Thisshould be considered in conjunction with the strategicgoals of the organisation.

Executive Headcount Percent is relatively highcompared to the Peer Group Median. This suggeststhat there should be adequate resources at theexecutive level to design and execute strategicobjectives going forward. This is further supported bythe relatively low Executive Span of Control. Anopportunity exists for Executives to focus on strategicobjectives, such as increasing employee engagement.


Executives Currently Eligible for Retirement The percent of Executives who are currently eligible for retirement. Executives Currently Eligible for Retirement / Executive Headcount

Managers Currently Eligible for Retirement The percent of Managers who are currently eligible for retirement. Managers Currently Eligible for Retirement / Management Headcount

Management Span of Control The number of employees supported by each Manager or above. Headcount / Management Headcount

Executive Span of Control The number of employees supported by each Executive. Headcount / Executive Headcount

First Year of Service Percent The percent of headcount with less than 1 year of service. Headcount with 0 to 1 Year of Service / Headcount

Executive Headcount Percent The percent of headcount that is at the Executive level. Executive Headcount / Headcount

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Workforce Structure (1 of 2)

Observations Notes

26%Managers CurrentlyEligible for Retirement161% greater than thePeer Group Median(10%)

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16.2Part-time Faculty Headcount per1,000 FTE Students – 77% lessthan the IPEDS Average1

31.6Full-time Faculty Headcount per1,000 FTE Students compared to29.8 average in IPEDS Data System

BermudaCollege

IPEDSAverage

Full-time FacultyHeadcount Percent

24% 17%

Part-time FacultyHeadcount Percent

12% 41%

Bermuda College has a significantly lower Part-timeFaculty Headcount per 1,000 FTE Students than theIPEDS average. This is further reflected in the Part-time Faculty Headcount Percent. This suggests thaton average, higher education institutions make use offar more part-time instructors/lecturers than thecurrent state at the College. An increase in thenumber of part-time faculty may allow for additionalstudent offerings and provide innovative thinkingthat is in line with the College’s broader strategicgoals. Innovation in terms of program offerings andstudent services could assist in the broader goal ofincreasing enrolment.

This is an opportunity for the College to examine howan increase in Part-time faculty members maysupport this strategy. Note however that there may beBermuda-specific considerations involved includingwork permit considerations and costs of attractingpart-time faculty.

It should also be noted that an increase in studentenrolment would bring the College’s Full-time FacultyHeadcount Percent closer to the average of otherhigher education institutions.


Full-time Faculty Headcount per 1,000FTE Students

The number of full-time faculty employees for every 1,000 FTE Students. Headcount per 1,000 FTE Students * Full-time Faculty HeadcountPercent

Part-time Faculty Headcount per 1,000FTE Students

The number of part-time faculty employees for every 1,000 FTEStudents.

Headcount per 1,000 FTE Students * Part-time Faculty HeadcountPercent

Full-time Faculty Headcount Percent The percent of overall headcount that are Full-time Faculty members. Full-time Faculty Headcount / Headcount

Part-time Faculty Headcount Percent The percent of overall headcount that are Part-time Faculty members. Part-time Faculty Headcount / Headcount

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1 Desrochers, D. M., & Kirshstein, R. (2014, February 3). Labor Intensive or Labor Expensive? (February 2014). Retrieved June 21, 2016, from American Institutes for Research website:http://www.deltacostproject.org/sites/default/files/products/DeltaCostAIR_Staffing_Brief_2_3_14.pdf



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Workforce Structure (2 of 2)

Observations Notes

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The metrics in this category suggest that employeeretention is being managed well and the College maybe more efficient in terms of turnover thanorganisations in the Peer Group. Conversely, thiscould be an indication of a ‘stagnant’ workforce. A lackof new people entering the organisation couldadversely impact innovation and strategic direction.This is consistent with the College’s ExternalRecruitment Rate, which is significantly below thePeer Group Median. Bermuda College should look intothe possibility of recruiting externally, especially in thearea of Part-time Faculty where a gap has beenidentified.

Bermuda College’s Involuntary Separation Rate is 76%lower than the Peer Group Median. This is likely apositive indicator however things such as performanceevaluations should be considered to ensure thatindividuals are performing effectively in their roles.

The Retirement Rate for the College is higher thanthat of the Local Comparator Organisation. Thismetric should be considered in conjunction with theproportion of managers currently eligible forretirement to address any succession planningmatters.



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less than Peer Group Median(14.2%)

2.1% Retirement Rate –

higher than the LocalComparator (1.3%)

0.68%Involuntary Separation Rate

76% less than PeerGroup Median (2.8%)

4.1%Voluntary Separation Rate

65% less than PeerGroup Median (11.9%)


Turnover Rate The percent of employees who voluntarily or involuntarily left the organisationduring the survey period.

(Resignations + Retirements + Involuntary Separations) / Headcount

Retirement Rate The percent of employees who retired during the survey period. Retirements / Headcount

External Recruitment Rate The external recruits as a percent of headcount. External Recruits / Headcount

Voluntary Separation Rate The percent of employees who resigned or retired from the organisationduring the survey period.

(Resignations + Retirements) / Headcount

Involuntary Separation Rate The percent of employees whose separations were a result of dismissal,layoff, or death.

Involuntary Separations / Headcount

6.2%External Recruitment Rate –61% less than Peer GroupMedian (15.7%)

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$3,064HR Costs per Employee - 160%greater the Peer Group Median of$1,176 per employee.

SupportFunction

Bermuda College(FTE)

Peer Group Median(FTE)

Finance 12.7 31.6

IT 25.5 24.6

HR 34 113

G&A* 4.4 9.19

2%HR Revenue Percent - PeerGroup Median is 1%.

Bermuda College has nearly double the number ofG&A Support Staff per FTE. This is an area that shouldbe assessed in terms of roles or duties that could be re-designed to increase efficiency.

While the support function FTE ratios are lower thanthe median, it is not necessarily indicative ofinefficiencies. Rather, it is more likely that this is‘skeleton staffing.’ i.e. resources are in place to providethe minimum in terms of support functions, such aspayroll. The IT FTE ratio is quite close to the PeerGroup Median which is in line with the IT functionbeing outsourced to a large extent.

Bermuda College needs to ensure that the roles withinthe support functions are well defined. This processmay help to identify any roles or duties that can beconsolidated to increase efficiency.

HR Costs per Employee are relatively high and thespending should be evaluated in terms of effectivenessand alignment with the College’s Strategic Plan. Thecreation and management of an HR Strategy wouldprovide the focus and visibility to ensure that HR isappropriately invested in.

Support Function FTE Ratios

The ratios to the left show the number of core FTEs supported by 1FTE in each support function area.


Finance FTE Ratio The number of FTE employees supported by each Finance FTE. FTE / Finance FTE

IT FTE Ratio The number of FTE employees supported by each IT FTE. FTE / IT FTE

HR FTE Ratio The number of FTE employees supported by each HR FTE. FTE / HR FTE

G&A FTE Ratio The number of FTE employees supported by each G&A FTE. FTE / G&A FTE

HR Costs per Employee The amount directly invested in the HR function for each employee. HR Costs / Headcount

HR Revenue Percent HR Costs as a percentage of Revenue. HR Costs / Revenue

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* G&A – General and Administration (inclusive of all non-customer facing core employees)



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Functional Performance

Observations Notes

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Opportunity HR Department Organisation Goal



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People mandatesHR initiativesPeople metrics

Must address Should address Neutral

Legend:

Average Benefits per Employee

Management Span of Control

Overtime Pay Percent

Executive Headcount Percent

Part-time Faculty Percent

Total Cost per FTE

Compensation Cost per FTE

G&A FTE Ratio

Labour Cost per Employee

Communications and ChangeManagement

Diversity Strategies

People Analytics

Organisational Transformation

Employment Value Proposition

Talent Acquisition Strategies

Succession Planning

Leadership Development andSuccession Pool

Retention of high performing talent

Attraction of needed talent

Diverse and inclusive workforce

Efficient and effective supportfunctions

External Recruitment Rate

Employee Engagement Percent

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Opportunities

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Optimising support functions to deliver

In order to better position core support functions todeliver, the College may want to consider completing areview of the service levels and value brought to thebusiness by support functions. This will allow the Collegeto align resources (financial and talent) to areas wheresupport functions are not meeting strategic priorities. Forexample, a detailed review of G&A service delivery andpriorities against relevant industry benchmarks andBermuda College strategic priorities may yield substantialimprovement opportunities.

• Functional dashboards

• Voice-of-customer survey

Developing the leaders of tomorrow

The College may wish to prioritise the development ofits young workforce by focusing on learning strategiesand career development so that younger talent areready to move into leadership and other critical roles asolder generations retire. Programs such as mentorship,leadership development and career ladders would allhelp to develop the workforce, improve retention andhelp to develop the College’s next generation ofbusiness leaders.

Opportunity Recommendation Sample Output

• Talent assessments

• Workforce planning

• Leadership development

Creating an optimal structure

The College should consider metrics related toworkforce structure and the opportunities that exist formanagers and executives to engage employees and alignroles to the Strategic Plan. Additionally, the Collegeshould investigate the feasibility of bringing inadditional Part-time Faculty. Consideration of theseitems could allow for progress to be made against keystrategic goals such as increasing enrolment.

• Organisation design• Role clarity and performance

metricsPwC People Analytics


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People Strategy Recommendations

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Given that the organisation is 5 yearsinto the 10-year strategic plan werecommend the following activities inaddition to what has been presented:

Re-visit Strategic Plan to:

1. Determine the desired outcomesof the strategic plan have beenrealised at the plan’s midpoint

2. Assess whether circumstanceshave changed that may require arefresh of the strategic plan (i.e.funding, student enrolmentpatterns, etc.)

Additional recommendations:

• If there is projected growth inenrolment, ensure the staffing planmeets projected need

• Due to relatively low ManagementSpan of Control there is theopportunity to address pockets ofdisengagement and make animpact

1. Assess Internal Environment: Inthe second phase, the goal is to assessthe current internal environment as itrelates to the needs of your core businesslines – your faculty. Through workshopsand interviews, we will guide your teamin understanding the pain points relatedto workforce management. Your teamwill benefit from knowledge transfer andis engaged in the discovery sessiondesign.

2. Leading Practice Industry Scan:Apply leading practices from our priorengagements to bring context to ourbenchmarking scan to delve further intothe College’s operating cost breakdownto identify additional opportunities forcost reduction and operationaloptimisation.

3. Organisation Structure andTalent Strategy review: Evaluate thealignment of current G&A resources todetermine how effectively the collegestructure enables its strategic objectives.

Phase 2 focuses on assessing the internal environment at Bermuda College. Understanding your workforcechallenges, in addition to the findings in Phase 1, will allow us to develop a strategic roadmap that meets yourbusiness needs.

Business Strategyand Plan

Determine DesiredOutcomes

Align Talent ManagementStrategy

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Develop KPIs for the College andassess performance againstthese. In line with broaderstrategic goals, possible KPIsshould include items related toFTE compared to enrolment aswell as measures of studentsatisfaction. These will assist indetermining the effectiveness ofthe College’s strategy.



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Next Steps

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The following comparator organisations are comparators we used for the Bermuda College’s benchmarking, who haveauthorised publication of their name.



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Data collected from 26 Higher Educationand affiliated clients

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Talent strategy

• Key businesspriorities forpeople, talent andbusiness change

• The employeeexperience

Strategic PeoplePlan

• Detailed futureworkforcescenario analysisand workforcerequirementsforecasting basedon businessstrategy and plan

• Detailedworkforce planaligned tobusiness plan

Businessstrategyand plan

• Growth

• Emergingmarkets

• Innovation

• Regulation,compliance &risk

• Reduce costs

• Operationalefficiency

• Transactions

HR outcomes

• Focused talentinvestment, processesand programs

• Activity aligneddirectly to businessplan

• Improved governanceand reporting ontalent

Talent outcomes

• Increased employeeengagement

• Increasedperformance

• Diversity

• Increased leadershipeffectiveness

• Improved Talentretention

• Enhanceddevelopment of keytalent

• Managed successionfor critical roles

• Management ofcritical roles

• Culture of innovation

• Learning organisationculture

• Employeecommunication &recognition

Business valuethrough talent

• Manage risk ofcapability gaps

• Sustainablebusinessleadership

• Focusinvestment intalent

• Competeeffectively fortalent

• Employerreputation

• Leverageinnovation

Key roles thatcreate (or

destroy) value

Talent thatdrives highperforming

culture

Experienceand expertise

Future talentsourcing and

high potentials

Attract• Employer brand• Employee value proposition• Talent sourcing• Workforce planning• Diversity

People Processes& Systems

• HR Function• Organisation design

• Communications• People

management• HR systems

Implementation

Measurement, analytics and reporting

Deploy• International mobility• Succession planning• Cycles of experience• Restructure

Develop• Leadership development• Coaching and mentoring• Technical and function

learning• Performance management

Retain and Reward• Engagement and culture• Total reward, pension and

incentives• Recognition

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PwC’s approach to talent management helps organisations to ensure their people business strategies are realisedthrough their people – it provides the framework within which to design recruitment, retention, and employeeengagement programs, policies, and infrastructure to produce a happier and more productive workplace.



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PwC’s Talent Management Framework

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WorkforceStructure

Workforce Costs& Rewards

TalentManagement

WorkforceFlow

Overtime Pay Percent

Promotion Rate

External RecruitmentRate

Full-Time Vacancy Rate

First Year of ServicePercent

Sick Days per FTE

Full Time Vacancy Rate - Less than 90 Days

Gen. X External Recruitment Rate

Learning & Development FTE Ratio

Resignation Rate

RN Ten Years or More of Service Voluntary Separation Rate

Involuntary Separation Rate

Full Time Vacancy Rate - 90 Days or Longer

Rookie Ratio

Retirement Rate Gen. X Promotion Rate

Average Tenure

Correlated MetricsSaratoga Metric

PwC Saratoga has been collecting workforce data from organisations since 2006 on critical dimensions such asturnover, workforce movement and demographics. We have compiled this raw data into our database and conductedcorrelation analysis to examine relationships between metrics over time. Below are a set of correlations that we havefound in the 2008 – 2014 data for “Not for Profit” (Primarily Healthcare) organisations.

Correlation



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Not for Profit Correlations

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Chris Bailey,P&O Leader, Cayman [email protected]

Trish Nixon,P&O Manager, [email protected]

Alistair McNeish,P&O Partner, [email protected]

PwC Saratoga PeopleAnalytics

Saratoga is the world’s leading sourceof workforce measurement. It providesthe largest global database of metrics

spanning eights major industry sectorsand 2,000 clients globally.

Learn more us at our website:http://pwc.to/1HlemTs

OR

Watch us at:http://bit.ly/1LPfwIQ

©2016 Pricewaterhouse Coopers Advisory Limited (a Bermuda limited company). Allrights reserved. In this document, PwC refers to Pricewaterhouse Coopers Advisory Limited and may sometimesrefer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure forfurther details. You should not act upon the information contained in this publication without obtaining specificprofessional advice.

Dr. Cherry Hinkson,P&O Leader, [email protected]

Warren Miller,P&O Senior Associate, [email protected]

Local Contacts: Regional Contacts:



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Our Local People and OrganisationConsulting Team

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PwC Saratoga TM - Bermuda College...2016/08/30 · PwC Contents 2 PwC Saratoga provides workforce surveys, benchmarks, and analytics. Our services enable organisational leadership