FY18 SUMAR Priority Initiatives
SUMAR has identified three priority initiatives for FY18 that require broad campus participation for success, will impact a significant portion of the campus population, and have in-year goals. These projects may also represent improved management of resources or significant opportunities for cost savings. The priority initiatives for FY18 are:
Controlling Health Care Costs
This multi-year effort continues as the University seeks to identify additional opportunities to control rising healthcare costs or “bend the trend”. The national trend for healthcare costs continues to increase at a rate of 8%-9% each year since 2010, while Princeton’s increase has been held at 6%-7% over the past three years. Several strategies (e.g., My Health Coach, My Health Advocate, Best Doctors, Castlight, Carebridge and increased use of urgent care centers instead of ER visits) have supported employee health and mitigated the University’s rising portion of costs and annual increases to employee contributions.
These strategies require ongoing engagement of employees and dependents to use the healthcare system effectively in addition to the University optimizing the structures of our healthcare plans.
Increasing Supplier Diversity
Princeton’s efforts to promote diversity and inclusion among its students, faculty, and staff are well recognized. The University aims to mirror this progress among its third-party suppliers. A lack of competition is the most prevalent issue requiring focused attention and support to achieve this goal. In FY18, Procurement will focus on increasing the frequency with which University purchases are competitively bid and ensuring that when bids occur, diverse firms are well represented.
Objectives of this program include demonstrating responsible stewardship of financial resources by promoting competitive access to procurement needs for interested firms; engaging and educating diverse firms on the opportunities to support the University’s mission through the provision of needed goods and services; and pursuing economic inclusion for diverse suppliers as measured by the frequency with which they have the opportunity to compete for University business and the total spend directed to them. The University spent over $500M on goods and services in FY17, with just $12M going to certified diverse businesses. There is certainly opportunity to improve in FY18 and increased competition is key to achieve that success.
Reducing Single-Occupancy Vehicles On Campus
Campus planning and sustainability goals require that Princeton reduce the number of single-occupancy vehicles (SOVs) on campus. FY18 is the start of a phased approach to achieve this goal via the Revise Your Ride program that offers incentives to staff who utilize mass transit rail and bus programs, van and carpool programs, and bike and walk programs.