In March of 2020 the world stopped for COVID-19, and we were all sent home to work. With varying levels of success, higher education institutions transitioned both educationally and administratively to a virtual world and for two years or more, we all stayed there. Eventually, many of our employers called us back into our offices despite the success we had in our virtual world. Financial aid was processed and disbursed timely; students received the information they needed when they needed it; and our employees stayed connected by mastering platforms like Zoom and Teams. And that begs the question “why”? Remote work, when managed well, offers benefits to both employees and employers alike, and can actually solve the biggest crisis in student aid- Retaining great staff.
The benefits of a remote office are numerous and widely known. In fact there is a measurable cost to going to work that is even recognized in the Student Aid Index calculation- commuting takes time and money and can cause frustration and delays due to traffic or public transportation disruptions. Costs for lunch, coffee and snacks add up, and while you expect your employee to look professional on camera, a WFH wardrobe is less costly to purchase and maintain.
Employees who work from home can manage minor personal business with fewer disruptions to their day- finding time for a dentist appointment at home, for instance, often means not needing to take a half day of PTO for a commute. Parents and caregivers also find that remote work better fits into their schedule, and if the work isn’t done right at 5pm, an employee who doesn’t need to catch a train or deal with a commute can keep working. A happy and comfortable employee is also more likely to get back to the problem after dinner, the gym, or childcare duties have been settled for the evening.
The biggest benefit to a remote office, however, might just be recruitment and retention. Having a fully remote office allows you to do a nationwide search without being constrained by geography, giving you a much larger qualified candidate pool, which is especially valuable for offices in a high cost of living area.
What about your highly valuable seasoned compliance experts? Are you letting decades of institutional knowledge walk out the door when another office lures them away with a fully remote position? NASFAA previously reported for 2025 that Over Half of Financial Aid Professionals Likely to Seek New Employment in the Next Year
You may be sold on the prospect of a fully remote office, but if you are not the decision-maker, you may have some work to do to convince the person who is. You know the benefits for your team members and generally for the institution, now translate them into metrics that will appeal to the decision-maker:
- First, compare productivity between a WFH period of time with productivity when in the office for the same amount of time. Compile metrics regarding students served, funds originated and timeliness of that origination, staff turnover, and employee satisfaction.
- Then, show how the transition will be cost-effective (less office space, increased productivity, etc.). Include your staff retention and recruitment calculations, especially if you’ve had a hard time retaining staff, or finding qualified new staff.
- Next, your office is hybrid and successful, or if you have a high percentage of online, part-time or non-traditional students, show how your staff is already serving that population successfully. Are other offices on campus remote or hybrid? If so, reach out to them to find what worked for that team.
- Finally, show that you have a plan to transition your team and ensure they have the same resources and opportunity to collaborate as they did previously. Your plan should include the following details:
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- An explanation of how you will continue to conduct internal meetings, and staff training, and how you plan to ensure that customer service to students and parents remains outstanding.
- Your plan to manage programming traditionally held on campus like accepted student days, new student orientation, and financial education presentations.
- Staff performance metrics, and how to ensure visibility into the work product of your team.
- How to comply with FERPA and data protection requirements to ensure student data safety.
We know that a virtual financial aid office will not only just work for your institution, but it can also help your institution thrive! Now, get out there and make your case! Don’t let open positions or other responsibilities hold you back from trying.
The Higher Education Assistance Group offers temporary staffing solutions for every financial aid and student accounts office role. Learn more on our website or email us at info@heag.us.
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