Tracking Key Performance Indicators

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Tracking Key Performance Indicators

• Todd Moravec, MHSA, MA
• Student Financial ServicesSUNY College at
  Plattsburgh

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Performance

• Business World
• Stock price and net revenue
• Entertainment World
• Academy awards and salary per movie
• Sports World
• Batting AVG and AVG yards per carry
• Academic
• GPA, SATs, and GREs
• Financial Aid
• ?????
• Depends upon information system

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Dashboard Design

• Add Indicators Incrementally
• Magnitude of data is overwhelming
• Select one performance area first
• Define a set of variables to collect
• Get to know data
• Adjust data collection methods
• Add other areas after a semester or two
• It is a marathon, not a sprint

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Dashboard Design

• Collect Indicators Weekly
• Weekly data sensitive to operations tells a
  story
  
• Monthly data may miss trends miss the story
• Time commitment per week 1 hour
• Establish baselines before start initiatives
• Methods of collection
• Banner and home-made reports
• MS Access queries reports
• Real-time data

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Document Processing

• Advisors to do list
• Number of documents
• Number of students
• AVG days on to do list..or age of documents

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• Initiatives
• Advisors strategically selected documents
• Advisor performance influenced by peers
• Set goals for document processing
• Refined system to track incoming mail
• Developed more effective communications
• Started mailing reminders earlier

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Document Processing

• Behavioral changes
• Advisors processed more documents faster
• Influenced students to submit documents earlier,
  which distributed volume over wider range of
  time
  
• Service benefits
• Office more responsive to students and families
• Increased access by reducing phone volume
• Reduced unnecessary phone calls and visits
• Staff focused more time on necessary issues
• Increased student and parent satisfaction
• Reduced complaints from students and parents

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Paid Aid

• Collect by funding source
• Report of all unpaid aid
• Define unpaid aid
• Accept - paid unpaid
• Accept paid fees discounts -other unpaid

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Paid Aid

• Processed more documents faster
• More effective communications
• Changed rules of deferral and paying
• More prom notes and entrance done
• Changed schedule for paying aid
• Online bill and payment

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Paid Aid

• Service benefits
• Distributed more student refund checks faster
• No lines in aid office at start of semester
• Increased student satisfaction
• Reduced account balances faster
• Increased VP satisfaction
• Drawback
• Longer lines to pick up refund checks

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Accuracy of Fall Bills

• Highest office volume after bills are mailed
• Increase amount of aid that appears on bill
• Several measures
• FAFSAs and award letters
• of offered funds that were accepted
• verifications complete
• entrance counseling complete
• student promissory notes complete
• parent promissory notes complete
• Perkins promissory notes complete
• Benchmark these before bills are mailed (end of
  June)
  
• Influence students to complete tasks before
  billing

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Accuracy of Fall Bills
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• Initiatives
• Started to mail FAFSA reminders to continuing
  students
  
• Started to mail FAFSA reminders to new students
• Made target FAFSA date earlier
• Started to mail award letters earlier
• Started to mail reminders earlier
• Communication plan starts earlier

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• Initiatives
• New accept on web procedures
• Started to mail award letters earlier
• Started to mail reminders earlier
• Communication plan starts earlier
• More effective communications

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• Initiatives
• Started to use MPN
• Started to mail award letters earlier
• Started to mail reminders earlier
• Communication plan starts earlier
• More effective communications

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Accuracy of Fall Bills

• Highest office volume after billing
• Service benefits
• Shifted some office volume before billing
• Eliminated other office volume
• Reduced phone calls after billing for both
  financial aid and student accounts
  
• Staff focused on necessary phone calls
• Increased student and parent satisfaction

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Student Satisfaction

• Measure once a semester
• Offer survey 10 days each semester
• No more than one day per week
• Two Mondays, two Tuesdays, etc
• Scale of 1 to 5
• 1 Very unsatisfied
• 5 Very satisfied
• Measure for several characteristics

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Student Satisfaction
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General Benefits

• Identifies priority areas for improvement
• Facilitates office discussions about your
  operations, systems, and services
  
• Stimulates the development of initiatives to
  improve performance
  
• Documents the results of initiatives
• Easily monitor office performance weekly

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Questions and Comments