This Week’s Question

Yale did the 65 and 10-year offer to their staff to help their budget. Is there any talk of that happening here at UConn?

For cost savings for UConn, how about offering golden handshakes to top administrators and bringing in new blood that will save money because of no bonuses and smaller salaries?

These are good questions. As our leaders in Human Resources explain, any early retirement incentive programs would have to be established by the Department of Administrative Services (“DAS”)/State Comptroller. If DAS/State Comptroller put forth any new early retirement incentive programs, HR and UConn Health leadership would explore whether they could be made available for UConn Health employees. 

One thing to keep in mind about any early retirement incentive is, we have to weigh the short-term cost savings against the long-term implications of the experience lost, including the capacity of the remaining employees to take on the additional work, as well as the costs of replacing that expertise such as recruitment, training, and, in some cases, possible overtime or subcontracting. While conceptually, early retirement could be appropriate in some specific areas, it often does not deliver the savings to make it generally worthwhile.

Thank you for raising these questions, and we encourage everyone to continue to offer suggestions on how we could save funds as part of Project Thrive.

 

---

Do You Have a Question for Dr. Andy?

Dear Dr. Andy is a forum to submit questions about anything. In addition to a personal response back to you, questions and answers may be posted on The Hub’s homepage or in other forums. You can choose to remain anonymous by not including your name, department, and email.

Questions selected for publication will not include the submitter’s name and email, and may be edited for length, style, and grammar.