UAS Staff Open Meeting

“We are open, responsive and innovative”

Lady Mitchell Hall, Sidgwick Site

15 November 2012

Unified Administrative Service

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Overview of today’s meeting

• A review of recent UAS achievements and upcoming events

• Sharing the Equality and Diversity and Wellbeing analysis

of the UAS staff survey results

• Providing an update on the staff survey action planning work

undertaken during the summer, and which continues

• An overview of the University bond issue – Andrew Reid

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UAS achievements and contributions

• Outreach and admissions work contributed to the highest state school

sector intake to Cambridge in over 30 years (Cambridge Admissions

Office)

• Times Higher shortlist – Senior Leadership Programme (HR)

• Progress with North West Cambridge (Registrary’s office)

• Supporting the IT Review (MISD)

• Employers’ Network for Equality and Inclusion Awards – Employee

Engagement category (HR)

• On-line graduate application process successfully launched (MISD)

and….

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UAS contribution to the Sainsbury Laboratory

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UAS contribution to the Festival of Ideas

• This Festival is co-ordinated by the Public Engagement team within the

Office of External Affairs and Communication

• Working with other areas of the UAS e.g. Estate Management, MISD

• Within this year’s festival, specific UAS-organised events included:

− The Annual Race Equality Lecture

− Vibrant Visions – a programme of talks, arts and performances

celebrating diversity and different cultures

− Face to Faith talk - "New Gods: Religious Change in Britain

since the 1980's”

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Upcoming events

• UAS Employee Recognition Scheme

− To celebrate and recognise excellent work, awards will be made for

one team and one individual under 4 values

− Awards event on 12th December, hosted by the Registrary

− To be held in the Combination Room in the Old Schools

− Event includes buffet and drinks for individuals and team members

put forward to the Nominations Review Committee

− Winners will feature in the University Newsletter and on the web

pages

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Upcoming events

• People Matter Week – week commencing 26 November

− To raise the profile and awareness of the support services available

throughout the University

− To help promote the health and wellbeing of staff: physical wellbeing,

personal development, emotional wellbeing, work organisation and

values

− Launch event “marketplace” on Monday 26th November, 12-2pm,

Cormack Room in the University Centre

− Followed by events throughout the week for all staff to attend

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The UAS staff survey - reminders

• You told us what you thought:

− 89% response rate (University sector benchmark = 56%)

• Results shared at UAS Open Meeting of 19 June 2012

• Divisional level results cascaded through teams during summer and

local action planning commenced

• Equality & Diversity and Wellbeing analysis undertaken

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Staff survey - update

1. Results – sharing the Equality & Diversity and Wellbeing analysis

Demographic questions:

- Length of Service - Sexual orientation

- Grade - Religion

- Contract / Affiliation with a College - Ethnicity

- Gender - Disability

- Age

2. Actions – updating you on staff survey actions to date

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1. Equality and Diversity and Wellbeing analysis

Generally, all staff have a fairly similar experience of working at the University

Potential areas of concern – key areas of less positive response:

• Work-life balance for those with over 20 years’ service

• Views on the management of change and effective co-operation held by

staff aged 56+

• Induction at Grades 9-12

• Knowledge / satisfaction with Pay and Benefits for male staff

• Perceptions of the University for those aged under 25

• Work-life balance and the University valuing of individuality for disabled

staff

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Staff survey results – areas for improvement

• Communication across the UAS and within the University

• Co-operation across UAS and across other parts of the University

• Feedback – improving through regular/consistent dialogue

• Encouraging contribution/feedback and sharing of views, including poor behaviour such as harassment from others

• Feeling valued/recognition – pay/career progression

• Change and how well we manage it

Plus – outcomes of the E&D and Wellbeing analysis

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Staff survey results – things we need to keep

doing well / supporting

• Ensure we support the University’s primary objectives

• Regularly reflect on our Values and what pride means to us

• How our work and that of the UAS contributes to the success of the

University

• Regular feedback/clarity on what is expected of us as individuals and

our teams.

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2. Learning and actions at all levels

UAS & University

Local work area

Employees

Ac

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n p

lan

nin

g

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Actions underway so far – UAS and University level

• Career development – secondments, mentoring initiatives

• Increase focus on succession planning at all levels

• Commitment to staff review and development time

• External accreditation – Investors in People

• UAS staff recognition scheme

• Communications strategy for the UAS

• Senior Administrators’ Forum

• UAS Senior Managers’ Workshop (14 November 2012)

UAS & University

Local work area

Employees

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Divisional actions identified

• Formal and informal communication activity within and across Divisions

− Including social events, reformatting of Divisional meetings,

communications to and from Divisional SMT, more transparent decision

making

• Feedback – move towards 360°feedback, introduce a suggestions box

• Workload - explore options for a workload management course

• Sharing expertise – staff holding workshops with colleagues,

share best practice with other universities

UAS & University

Local work area

Employees

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Divisional actions (cont’d)

• SRD - training for reviewers, everyone to have a development plan

which is delivered, career mapping, more types of secondment

• Induction – review induction plans at a local level

• Working environment – make improvements: de-clutter, file, archive,

painting, space management for formal / informal meetings

• Orientation – named map of office and nameplates for

desks so visitors know who’s who, signage etc

UAS & University

Local work area

Employees

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Individual actions

• We are asking you to reflect on the actions you could take, for yourselves

and for your team

• Examples:

− Communication

− Effective use of SRD

− Work environment

− Taking personal responsibility / accountability overall

UAS & University

Local work area

Employees

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UAS Senior Managers’ Workshop – 14 November

• Focused on UAS-level actions from the staff survey

• Groups worked on: Communications, Career Development,

Succession Planning, Equality & Diversity and Wellbeing

• Suggestions included: improved induction, informal communication

meetings / get togethers, effective secondments and job rotations,

setting up a small leadership forum (40-50 staff)

• Further work will be taken forward to share back with you next term

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Concluding remarks

• Progress actions and responses to the staff survey

• UAS continues its overall development

• It’s been a busy term…enjoy the Christmas break

Thank you

The Story of Bond

Financial “Skyfall”

Andrew Reid

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£350 million University bond issue

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Bond issue

• £350 million nominal; interest rate 3.75%

• Idea developed over 5 years

• Happy coincidence of cash requirements for North West

Cambridge and very low interest rates

• University rated AAA (stable by Moody’s)

• Great interest from investors (4 x over-subscribed) and

keen pricing (gilts +0.6%)

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The exercise

• Moody’s

- Extensive information supplied and questions answered (financial,

student, people, structure, governance and management)

- Visited Cambridge (tour of estate, meeting with PVCs and

management)

- Comparison with (particularly) US rated peers

Result: AAA (stable) – the best

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Moody’s liked …

• Extraordinarily strong market position

• Very stable revenues from diverse sources

• Good record of small surpluses

• No debt to date

• Clear governance and management

• Underpinned by UK regulatory environment

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Bond issue

• Great support from Legal Services Office and our advisors

• Investors informed by prospectus (description of University,

risk factors)

• Roadshow in London and Edinburgh

• Bond sold through three bookrunner banks (institutional

investors only)

• Bonds now listed on London Stock Exchange

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External assessment of the bond issue

A banker away from the deal said:

"It puts it right in the context of some of the top SSA issuers. […]

But you can argue that’s where Cambridge should be.

It’s extremely rare, has very little debt, it’s clearly a well run institution,

not-for-profit, it enjoys at least some form of government backing as the

government is the source of much of its cashflows, and it has a valuable

property portfolio and endowment fund."