OHIO launches Innovation and Efficiency Awards, aims to increase financial flexibility and stability

Today, Ohio University is launching the Employee Innovation and Efficiency Awards Program to incentivize the development of new ideas that drive cost containment and revenue generation.

Full-time faculty and staff are eligible to contribute ideas, and selected proposals with proven cost savings will earn individuals up to $1,000, or up to $2,000 for teams who submit ideas as a group. Submissions will be evaluated based on a weighted set of criteria, with awards scaled to reflect the level of contribution.

“As we look ahead to the next three to five years, like many universities, we anticipate some leveling off of revenues while expenses such as benefits, software and utilities costs continue to climb”, said Vice President of Finance and Administration, David Moore. “We are looking for innovative approaches that will help us contain costs and develop new revenue streams.”

Moore said in addition to the Innovation and Efficiency Awards program, his office will ask division leadership to work to identify areas for new revenue streams while identifying cost containment measures with a multi-year goal of reducing reliance on reserves and creating an appropriate operating margin that will fund transformational innovation as the education landscape continues to experience change.

“If the last few years have shown us anything, it’s that we need to be prepared for the unexpected,” said OHIO President Lori Stewart Gonzalez. “We are experiencing great institutional success with growth even in the midst of a challenging environment, and we need to leverage that to build financial stability and set money aside for major investments to keep our institution strong over time."

Beyond the monetary awards, President Gonzalez noted that she hopes the Innovation and Efficiency Awards program will inspire employees across all campuses to embrace a culture of continuous improvement that will build a stronger, more efficient and more mission-focused University.

“Innovation lives in all corners of our University,”  President Gonzalez said in her State of the University address, “and our greatest progress happens when everyone feels valued, heard and empowered to share ideas that move us forward.”

To submit ideas for the Innovation and Efficiency Awards program, employees can visit ohio.edu/efficiency-awards.

• Eligibility: Full-time, active employees of Ohio University may submit entries individually or as part of a team.
• Submissions: Proposals may include innovations, tools, strategies, or process improvements that deliver efficiencies, cost savings of more than $2,000, improved customer service or other enhancements to University operations.
• Awards: Individuals whose ideas are accepted will receive an award of up to $1,000. Teams will share an award of up to $2,000.
• Review Process: Submissions will be reviewed by the Office of the President and evaluated by the Ohio University Innovation and Efficiency Selection Committee, composed of senior University leaders. Evaluation criteria will include financial impact, operational efficiency, recurring or sustained Impact and innovation and replicability.