Coronavirus crisis management for schools and universities

We are going through unprecedented times – at once challenging and uncertain –  and our school and university clients are seeking our advice now more than ever, particularly on crisis management.

Most of the world regions have now been hit by the pandemic in various degrees and as the lockdown is gradually lifted in many countries, the reopening of schools and universities is expected in the coming weeks or months.

Whether you are a trustee, a Head or Dean, or an investor of an educational organisation, you have probably lived through a particularly intense time over the last few weeks:  many important decisions to take, a lot to communicate, so many areas to innovate, all with very little time and no precedents to fall back on. Although the economic impact of the pandemic is still unknown, the financial sustainability of your institution may already be facing an initial set of challenges.

This crisis, as well as future ones – as it now seems likely that such situations might occur more regularly going forward – requires different types of response, in the short, medium and long terms. We would therefore like to share with you some ideas that can help you to put in place an emergency plan in case of a new pandemic, and to structure your turnaround strategy.

Please don’t hesitate to get in touch with us to discuss your needs, and avail of your free consultation: +44 (0)7900 162220.

Short-term

• internal communications: for teachers and non-teaching staff
• frequent website updates, videos or webinars for parents or students
• finding and availing of various government schemes: furlough system, state-guaranteed loan, rent or loan deferral waiver or holiday, and so on
• policy on overdue term payment
• cash management

Medium-term

• analysis of the demand from parents or students: preparation and analysis of a survey
• video or webinar for parents or students
• review of re-enrolments & new admissions
• financial review and cost structure advisory
• benchmarking of competitors’ crisis management strategy: invoicing process, school fees, curriculum support…
• financial budget and forecast with stress test scenario
• estate management strategy

Long-term

• strategic audit
• financial stability plan
• curriculum design focused on distance learning tools and gamification of courses
• admissions advisory & outreach strategy
• governance advisory