Virginia Commonwealth University

Source: AARP.org | August 30, 2006

Winning years:  2007, 2006, 2005,
Industry:  Education
Location: Richmond, VA
URL:  www.vcu.edu

Highlights of 2007 Winning Strategies

Virginia Commonwealth University offers a Community Service Leave program that provides paid leave to employees so they are able to meet with school officials about their children, attend school functions, volunteer at their children's school, or participate in volunteer community service organizations.

Additional Policies and Practices

• Recruiting: Virginia Commonwealth University (VCU) uses senior placement agencies to target mature workers and retirees. The university also hires retired VCU employees and other retired employees on an hourly/adjunct instructor basis.
• Workplace Culture/Continued Opportunities: VCU extends a variety of learning and development programs to its employees: tuition reimbursement, in-house classroom training, on-line training, and certification classes. It offers tuition reimbursement exclusively to full-time employees. In the past 12 months, 40 percent of VCU's employees participated in at least one of these training opportunities with an average of 150 hours spent in training. KnowledgeNet provides on-line training modules on various topics, giving employees the opportunity to learn new skills. VCU has an Eldercare Support Group, which meets monthly and is partnered with the Gerontology department to provide guidance and assistance to HR in enhancing programs for older employees. The university makes accommodations for employees with special needs. For example, it redesigned the work functions for an employee with a degenerative vision condition, as well as modifying his work hours and equipment (larger screen monitor).
• Benefits/Health: Full- and part-time employees (working 20+ hrs/week) receive individual and family medical coverage, individual and family prescription drug coverage, individual and family vision and dental insurance, and individual and family long-term care insurance as well as short- and long-term disability. Health benefits for retirees pre-65 and 65+ include individual as well as spouse medical and drug coverage, vision and dental insurance, long-term care insurance, EAP services, and individual life insurance or other death benefit coverage. New hires are eligible for all of these benefits upon retirement. VCU offers an FSA plan to assist employees in covering their out-of-pocket health care costs.
• Benefits/Financial: VCU offers a defined benefit plan, a 403(b) plan, as well as a money-purchased defined contribution plan to its full- and part-time employees. It encourages employees to participate in the 403(b) plan by offering employees the option to choose to invest in lifecycle funds, and employees 50+ can make catch-up contributions. Employees receive financial planning information from staff members, from the financial services firm that administers their 403(b), and from external financial planning experts not associated with the 403(b). VCU provides paid time off specifically designated for caregiving, short-term time off without pay as well as long-term leaves of absence without pay to allow for caregiving. It makes available the following wellness programs to full- and part-time employees: flu shots, health screenings, health risk appraisals, smoking cessation programs, and health club discounts. In addition, it offers physical activity/exercise programs, weight loss programs, stress management training, personal health classes, and CPR classes. Twenty-nine percent of VCU employees have utilized at least one of these wellness benefits in the past 12 months. The CommonHealth program offers a Lunch Well program, which encourages employees to make healthy lunch choices, and a Feel Alive and Drop 5 program, which encourages employees to eat healthy food, exercise, and lose weight. Weight Watchers at Work is additionally offered to employees. VCU offers its full- and part-time employees on-site childcare and referral services to assist with childcare and eldercare. The childcare center is also available for employees' grandchildren.
• Benefits/Alternative Work Arrangements: VCU offers a varied choice of alternative work arrangements to its full- and part-time employees: flextime, compressed work schedules, job sharing, and telecommuting. The university also offers a formal phased retirement program to its full-time employees. A faculty member who is looking to phase into retirement contracts for a retirement date, works a reduced workload until retirement and still maintains full benefits. Full-time employees are eligible to move to part-time work on a permanent or temporary basis.
• Opportunities for Retirees: VCU currently has 670 retirees. There is an individual who has a direct responsibility for retiree relations. The university stays connected with its retirees by communicating on a regular basis with them, and by inviting them to the organization's events. All faculty retirees become members of the Retired Faculty Council. Additionally, VCU offers retirees temporary work assignments, consulting/contract work, and telecommuting, as well as part-time work.
• Age of Workforce: Thirty-seven percent of VCU employees are 50+. The average tenure of employees age 50+ is 15.1 years.

Winning Strategies 2006

The University focused on employee education this year with the following programs:  Benefits Fair, Retirement Symposium, Investment Education Series, Saving for Retirement Seminars, Child Safety and Health Screenings.  Thirty-eight percent of the University’s employees are age 50+.

Other Benefits:

• Recruiting: The University uses senior placement agencies to target mature workers/retirees.
• Workplace Culture/Continued Opportunities : The University offers the following learning and development programs to its full- and part-time employees:  in-house classroom training (38% used in past 12 months), on-line training (2% used in past 12 months), and certification classes (4% used in past 12 months).  The University offers a tuition waiver course in which 100% of the tuition is waved for two courses per semester for full-time employees.  Long-service anniversaries are celebrated with announcements, parties, awards, and gifts.
• Benefits/Health: Full- and part-time employees (working at least 20 hrs/week) receive individual and family medical coverage, individual and family prescription drug coverage, and individual and family vision and dental insurance, individual and family long-term care insurance as well as short and long term disability.   Forty-two percent of employees are enrolled in the individual medical and prescription drug coverage plan, while 51% of employees are enrolled in the employee and family medical and prescription drug coverage plan.   Seventeen percent of employees are enrolled in the individual vision plan while 23% are enrolled in the individual dental plan. Twenty-two percent of employees are enrolled in the employee and family vision plan while 31% are enrolled in the employee and family dental plan.   Fifty-five percent of employees are enrolled in the individual long-term care insurance and short- and long-term disability plans.   Twenty percent of employees are enrolled in the employee and family long-term care insurance plan.   Health benefits for retiree ’ s pre-65 and 65+ include individual as well as spouse medical and drug coverage, vision and dental insurance, long-term care insurance, EAP services, as well as individual life insurance or other death benefit coverage.   New hires are eligible for all of the above benefits upon retirement.   The University offers a health flexible spending account.
• Benefits/Financial: The University offers a defined-benefit, 401(k) and money purchase defined contribution retirement savings plan to its full and part-time employees.  Employees may invest in lifecycle funds, and employees age 50+ can make ‘catch-up’ contributions to their 401(k).  The University offers on-site child care as well as referral services to assist with child and elder care.  The on-site child care facility and the referral services to assist with child care are available to employees to use for their grandchildren.  The following wellness programs are offered to full and part-time employees:  flu shots, health screenings, health risk appraisals, smoking cessation programs, health club discounts, exercise programs, weight loss programs, stress management training programs, and personal health and safety programs.  Thirty-one percent of employees have utilized at least one of the above benefits in the past 12 months.
• Benefits/Alternative Work Arrangements: The University offers the following alternative work arrangements to its full- and part-time employees:   flex time (50% participation), compressed work schedules (10% participation), job sharing (2% participation), and telecommuting (5% participation).   Full-time employees are offered a formal phased retirement program and 4% of employees participate.   The phased retirement program allows eligible faculty to transition into retirement by contracting for a retirement date, maintain full benefits, and work a reduced workload until retirement.     Full-time employees have the opportunity to move to part-time work on a permanent and temporary basis.
• Opportunities for Retirees: The University currently has 675 retirees. There is an individual who has a direct responsibility for retiree relations.   The University stays connected with its retirees by communicating on a regular basis with the retiree, inviting retirees to organization events/celebrations, and becoming a member of the Retired Faculty Council.   Retirees are offered the following work arrangements:  temporary work assignments, consulting/contract work, telecommuting, as well as part-time work.
• Age of Workforce: Thirty-eight percent of the University ’ s employees are 50+.   Twelve percent of the University ’ s past twelve month new hires are 50+.   The average tenure of employees age 50+ is 15.75 years.