It is a sad state of affairs to see universities that train professionals cannot exude the same in their operations.
To put it into perspective, most universities offer courses in finance management yet they find themselves culprits of the complete opposite. Public universities are in financial turmoil due to underfunding, embezzlement and a failure to generate revenue.
As of June, these universities had accumulated debts totaling approximately Sh56 billion. The problem will worsen if no action is taken.
So, what measures can they employ to cut on cost and work towards remaining afloat?
To begin with, reducing administrative costs would go a long way. Universities can review their administrative and support staff positions to identify areas where they can reduce costs, for example by streamlining processes or consolidating departments.
This can also be done through outsourcing certain non-core functions such as IT support or facility management to external service providers. This in return reduces the number of staff needed to manage these functions in-house.
Universities can also collaborate and share resources such as facilities and staff. The partnership between Catholic University of Eastern Africa and its affiliate and constituent collages is an live example that this is achievable.
Second is implementing cost-saving technologies such as automation and artificial intelligence to streamline operations and reduce labor costs.
Covid-19 showed us that online education can actually work. Universities can offer more courses and programmes online to reduce the need for physical classrooms and buildings and this will save on maintenance and utilities.
Riara Group of Schools can be flaunted for maximising on this with their fairly good virtual sessions of learning. Other tech-related measures include energy-efficient buildings, equipment and virtual meetings and events.
Third, negotiating better rates for goods and services could be a game changer. Universities can leverage on their size and purchasing power. They can negotiate lower prices for the goods and services that they regularly buy such as office supplies, power and telecommunications services. There are a myriad of ways to do this.
Universities can seek out competitive bids from multiple vendors to ensure they are getting the best deal. They can also join group purchasing organizations or consortiums that allow them to pool their purchasing power and negotiate better rates with vendors.
Lastly, corruption in the management of Kenyan universities is a serious problem that has had far-reaching consequences for the institutions and the people they serve.
It can take many forms, such as embezzlement of funds, nepotism and bribery, and it can undermine the integrity and credibility of the universities leaving them crippled.
To curb corruption in management, it is important for the institutions to have strong policies and systems. This can include measures such as transparent financial management, regular audits, and a code of conduct for officials.
In conclusion, universities cutting costs can be a necessary measure to ensure financial stability and sustainability. However, it is important for them to carefully consider the potential impacts of these cost-cutting measures on students, faculty and staff.
While cost-cutting may lead to long-term financial gains, it can also lead to negative consequences such as reduced access to resources and support for students and decreased job security and job satisfaction.
Ultimately, finding a balance between financial stability, the needs and well-being of the university community is crucial for the success and prosperity of the institution.
The writer is a freelance journalist and a communication specialist.
