Welcome to the 2014 Human Capital Report. This report, now in its tenth edition, provides critical data for human resource decision making. A significant part of the University budget is committed to our workforce to fund compensation and benefits, making human resource data critical to our stewardship and to building our investment. Using human resource data to understand changing demographic trends allows us to consider proactive plans that respond to challenges and help sustain our leadership position as one of the nation’s greatest public research universities.
This year’s report sheds light on a number of key indicators reflecting notable trends in the University’s faculty and staff profile, staffing, recruitment and retention, retirement rate and financial profile. Chief among these are:
- Hiring levels for the period November 2012 through November 2013 are down 14 percent over the previous year, with 5175 staff jobs filled. Last year’s numbers reflected the large hiring effort in the Hospitals & Health Centers as the new hospitals opened. Reduced hiring in the Hospitals & Health Centers account for the overall decrease in staff jobs filled in 2012-13.
- Overall staff retention has been stable, with an average of 92 percent for the past five years. Manager retention has trended slightly lower, with an average of 91 percent over the past five years.
- Staff termination rates remain below benchmark comparisons. Overall staff termination rates at the university are less than 10% compared to benchmark data for Education (12.3%) and Healthcare (17.9%).
- After a sharp increase in retirements in 2012, the number of retirements in 2013 dropped sharply providing evidence that the time of retirement decisions were impacted by the changes in retirement eligibility rules and benefit cost-sharing changes that went into effect January 1, 2013.
This year’s report continues to examine the retirement outlook and challenges that face our organization. Projections suggest that by 2020, 30 percent of current tenured and tenure track faculty, 19 percent of staff and 31 percent of managers will retire. To continue to retain and transfer knowledge and address current and projected retirement trends, Human Resources has made a strategic commitment to strengthen leadership capability and capacity to encourage high levels of performance and productivity to sustain excellence across the University.
For more information about how the University of Michigan Human Capital Report data and the consulting expertise of our Human Resource Information Systems staff can help support workforce planning, recruitment/retention and succession planning in your school, college or unit, please contact UHR Senior Business Analyst Tom Palmer.
Yours in partnership,
Associate Vice President for Human Resources
Note: This report is available in downloadable PDF files requiring Acrobat Reader. If you do not already have Acrobat Reader installed, you can download it for free from Adobe.