Each year, the Office of Ethics, Compliance, and Enterprise Risk Management identifies Rice’s top enterprise risks. The top risks for FY25 include Human Capital Management, which is vital for attracting, retaining, and developing talent. To address this, Human Resources (HR) has developed a forward-looking strategy aimed at modernizing HR practices and enhancing organizational agility.
Rice's new performance management program is key to aligning employee efforts with university objectives. The program's first annual cycle, completed in FY24, included a three-phase process: goal setting, mid-year check-ins, and performance evaluations. Next steps involve gathering feedback, refining the process, integrating technology, and linking performance to merit increases and career advancement.
Rice is committed to being a top employer by enhancing its total rewards package. A $20 million investment over four years will improve pay, benefits, and career growth opportunities. Since January 2024, Rice has funded competitive pay increases, reduced medical premiums, and expanded tuition benefits. Upcoming plans include further pay adjustments, a new career exploration system, and the launch of the Total Compensation module in iO.
HR's Hiring Collaboration Hub streamlines the hiring process, cutting the time to fill positions from 88 to 54 days during its pilot phase. Future plans include implementing rolling admissions, collaborating with other universities to share best practices, and refining the onboarding process.
Professional Development
Rice empowers its employees with ongoing learning opportunities through the Talent E.D.G.E. program, Supervisor Success program, and partnerships with the Glasscock School of Continuing Studies and Jones Graduate School of Business. Upcoming initiatives include launching a leadership competency model and expanding enterprise subscriptions for learning and development.
By implementing these strategies, Rice University is not only mitigating risks but also supporting its mission to remain a leading academic institution. The ongoing evolution of HR practices ensures that Rice’s faculty and staff are well-equipped to contribute to the university's growth and success.