May 9, 2023
Dear Colleagues,
As the end of the academic year approaches, I am writing to provide an update on compensation, as well as to offer a few reflections about this year and the years ahead.
Compensation
The Board of Trustees has approved the budget for the new fiscal year, which included an increase in the employee compensation pool by 2% for benefits-eligible employees hired prior to January 1, 2023. These increases will be reflected in support staff and administrators’ June 16 pay. Faculty will receive their increase in September, as per usual.
Especially in this inflationary environment, I wish our budget allowed us to go further in recognizing the extraordinary work of everyone on this campus. But, even with the continued constraints on our current and projected budgets, it was a priority to increase our compensation pool as a means of supporting our employees, who every day bring our educational mission to life. Thank you for all you do.
The Class of 2027
With thanks to our hard-working colleagues in Admissions and Financial Aid, we just finished enrolling the Class of 2027. We currently stand at 646 members of the Class of 2027. The class is academically talented and demonstrates our growing global reputation as a place to receive a transformative education. And yet, for us and many of our peers, this enrollment cycle witnessed the intensification of the headwinds and external challenges we’ve discussed as a community, including shifting demographics, heightened competition, and increasing economic pressures. We will experience those pressures in our overall headcount and net tuition revenue, which in turn will meaningfully impact next year’s budget and beyond.
My colleagues and I will spend the next few months understanding the fuller financial picture, which is influenced by factors beyond the incoming class, such as student retention rates, staffing, fundraising, and return on new initiatives like the master’s program in American History. In the fall, I anticipate bringing faculty and staff together for a town hall to reflect with you about the College’s budget and the continued steps we are taking to support our educational mission.
Summer
In response to suggestions made through the Campus Climate Survey to provide more flexibility in the summer, we are introducing a pilot program for summer hours that allows eligible employees to work their budgeted hours during a compressed schedule. This program permits employees to compress their schedule into a 4- or 4.5-day work week. Human Resources will be in touch with more information about summer hours and this pilot program in the coming days.
In addition, the Human Resources Office, in collaboration with campus partners, has planned its fourth Employee Enrichment Day for Tuesday, June 6. Following the campus picnic at 1:30 p.m., employees may leave for the day and enjoy the summer afternoon. More information about Employee Enrichment Day and registration can be found on the Human Resources website.
Thank you
I am so proud of the work we have done as a community this year. From the strategic direction, to the new master’s program, to the newly passed curriculum, to so much more, we have been charting an ambitious future. That work will take time to root, and in the meantime, we must act with a commitment to innovation, adaptation, and an openness to change. This is a strong institution with a compelling mission and, working together, I have no doubt in our ability to navigate these turbulent times successfully.
Every single person makes this community as special as it is. Thank you again for all you do for the College.
With gratitude,
Bob