Nichols College President's Report 2014

President’s Report 2014

www.nichols.edu

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In this issue 1

President’s Message

2

Vision quest

4

Building the leadership brand

8

Student leaders

10

Fueling the vision through growth

16

The changing campus

19

Strong & supportive volunteer leadership

20

Nichols by the numbers

PRESIDENT’S MESSAGE

Defining leadership education for the next generation

T

he entrepreneurial spirit that inspired Amasa Nichols to build an academy on Dudley Hill is alive and well at today’s Nichols College. Emboldened by a new vision, the College is continuing to blaze a trail that was set nearly 200 years ago and taking steps—and some leaps—to secure another century of success.

In this inaugural issue of the President’s Report, we review the institutional advances that occurred during the 2013-2014 academic year toward our strategic objectives. From enhancing the undergraduate program, to differentiating our Graduate and Professional Studies division, to establishing programs that cultivate the confidence and competencies of our future leaders, to shaping a progressive and engaging learning/ living environment, Nichols is steadily defining leadership education for the next generation.

While we are guided by a vision to be a college of choice for business and leadership education, the true inspiration for our efforts comes from the students who best exemplify our new tagline, Learn. Lead. Succeed.

Every day, we dedicate ourselves to their professional development and they amaze us with their capacity to discover their own leadership potential. We are pleased to introduce you to some of them in this publication.

This year, as Nichols celebrates its bicentennial, we recognize the foresight and achievements of those who have led us to this point in history. With deep admiration and a revitalized sense of purpose, we are building on our heritage and creating a future where the Nichols name is synonymous with transforming today’s students into tomorrow’s leaders. www.nichols.edu

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Vision quest Nichols College is a college of choice for business and leadership

education as a result of its distinctive career-focused and leadership-based approaches to learning, both in and out of the classroom.

Nichols College Vision Statement

A

t Nichols College, we believe in the ability of students to transform themselves into leaders. We challenge and guide them to discover the leader that lies within each of them.

In turn, we are challenged and guided by a vision to be the best at what we do.

What does it take to be a college of choice for business and leadership education? It starts with a strong sense of purpose. Shortly after Susan West Engelkemeyer, Ph.D., began her presidency at Nichols in 2011, the College revised its mission statement to better illustrate the essence of a Nichols education by outlining the approaches that make us distinctive.

In 2012, the campus community engaged in a strategic planning process to determine key initiatives that would focus our efforts, enhance offerings and student services, ensure long-term success and financial stability, and enable us to realize our vision.

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www.nichols.edu

Now, in year two of our five-year plan, the College is experiencing record growth in enrollment, unparalleled generosity from our donors, a burgeoning physical plant, and, most importantly, a campus-wide awareness and heightened commitment to providing a career-focused student-centered education—one that enables each student to develop his/her unique leadership potential

through experiential learning, hands-on opportunities, and individualized mentoring.

With an aspirational vision, strong and collaborative leadership, a decisive plan, and a supportive and dedicated college community, Nichols is gaining on its quest each year and continues to be energized and motivated by its own potential to be the best.

What is leadership?

Leadership is the quality that inspires others to individual and collective achievement. But clearly there are different kinds of leaders. Some leaders boldly guide, some energize a team, and some quietly serve as role models. Leaders are insightful and strategic, innovative and spirited, collaborative and creative.

Any and all of these qualities move companies, causes and communities forward. Believing that leadership is vital and should be discovered, cultivated, and celebrated, Nichols College encourages the leadership potential in all its students.

Mission statement Within a supportive community, Nichols College transforms today’s students into tomorrow’s leaders through a dynamic, career-focused business and professional education.

To support its mission, Nichols College • Offers an experiential business curriculum with a strong liberal

arts foundation, as well as diverse co-curricular opportunities.

• Integrates into the student experience programs and activities

that cultivate and enhance professional skills and readiness.

• Develops the communication and critical thinking abilities,

the ethical and cultural perspectives, and the necessary teamwork skills that are required of leaders in a global economy.

www.nichols.edu

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Building the leadership brand

W

hether preparing academy students for the rigors of an Ivy League education or today’s undergraduate and graduate students for the challenges and opportunities in business, Nichols has created a legacy of training leaders. Now in its third century with a new vision, Nichols is reaffirming its commitment and cementing its reputation as the provider of a comprehensive, dynamic, career-focused and professional education.

To be a college of choice for business and leadership education requires us to integrate leadership into all aspects of the Nichols experience.

We continue to invest in innovation and infrastructure to ensure our students are groomed to learn, lead and succeed. On the academic front, signature programs, such as our Professional Development Seminar, focus on the tools and traits needed for our graduates to effectively compete in the global economy.

Several new initiatives are designed to further distinguish Nichols-grown leaders and our unique brand of leadership education.

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Institute for Women’s Leadership

established last year at Nichols to develop the leadership potential of female students and serve as a resource and authoritative voice on women’s leadership for the community at large.

from a website that tracks trends in women’s leadership through facts, figures, and selected readings, to a series of forums that enable students to hear and learn directly from female business leaders.

In defining leadership for a new generation of students, we recognize that the unique strengths and qualities women bring to organizations and communities must be cultivated and celebrated. The Institute for Women’s Leadership (IWL) was

Through campus initiatives, industry partnerships, research analysis, and thought leadership, the IWL focuses on the issues and challenges impacting women in business today. The Institute offers a variety of resources

The IWL is a vital component of the Nichols mission and a bold way to create and contribute to meaningful dialogue about the issues facing women professionals, while we engage, educate and empower our own.

www.nichols.edu

Business leadership breakfast Nichols’ standing as a leader in business education was elevated in grand style as the College hosted more than 200 alumni and local business leaders at the venerable Mechanics Hall for its 8th annual Worcester Business Breakfast. As a prelude to the bicentennial celebration in 2014-2015, the event cast a keen spotlight on the contributions Nichols and its alumni have made to business.

The gathering featured two luminaries in the world of finance: Nichols alumnus Keith T. Anderson ’81, the current chairman and chief investment officer of Anderson Global Macro and the co-founder in 1988 of BlackRock, Inc., the world’s largest money manager; and William F. Glavin Jr., the chairman and chief executive officer of Wall Street’s iconic OppenheimerFunds, Inc. Their panel discussion, moderated by nationally known business journalist and former CNN and CNBC anchor Nicole Lapin, ranged from the best college preparation for the business world to the state of the nation’s economic landscape.

To a rapt audience, President Susan West Engelkemeyer took the opportunity to solidify the College’s reputation in leadership education by revealing a strong new brand identity and

acknowledging the distinguished sum of business leaders in the room who trained at Nichols College— several of whom were proud sponsors of the event.

Earlier in the year, Nichols was recognized by the Worcester Business Journal as the Best College for Business in central Massachusetts. Nichols was the only school among the 51 award recipients, which spanned a range of top businesses and organizations in the Worcester area, from the Fallon Community Health Plan and Staples to the Worcester Mayor’s Office and Mechanics Hall, the city’s main venue for concerts.

Facilitator Nicole Lapin engages panelists Keith Anderson ’81 (right) and Bill Glavin Jr. in a discussion of the mentors who had the greatest influences on their success in business. Above, right: The distinguished panelists pose before the event with Nichols President Susan West Engelkemeyer, PhD, and Board Chair John H. McClutchy Jr. ’72.

www.nichols.edu

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Learning to Lead From day one, first-year students at Nichols College begin to identify and develop their leadership skills through a new course titled Learning to Lead.

The course takes a cross-curriculum approach to exposing students to the many facets of leadership and, in a motivational setting, encourages them to find their own personal leadership style, ultimately identifying the emerging leader within.

By engaging in intensive, experiential learning and practice, students are immersed in the study of leadership and faced with the opportunity to apply themselves. For instance, as part of the Fall Opening weekend, before they even set foot in a classroom, students were tasked to tackle a series of problem-solving and physical challenges to test leadership and teamwork skills.

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Climbing the charts Nichols is gaining prominence as the provider of a value-added education that offers a solid return on investment. In the 2014 survey of Best Colleges released by U.S. News and World Report, the College ranked ninth among regional colleges in the northern United States in the category of “Best Value Colleges,” and placed near the top third of its peers in the overall “Best College” rankings, which focus on 16 areas of academic excellence, including faculty, financial resources, and assessments by administrators at other colleges.

Nichols is also ranked #7 nationally for ROI (expected Return on Investment over the careers of graduates) by Payscale.com.

Students focus on a number of topics to promote knowledge and confidence, including characteristics, behaviors and attitudes of leaders; ethics and social responsibility; coaching and motivating; and communication and conflict resolution skills. The course includes

an optional Spring Break trip to London that will expose students to business practices from international and intercultural perspectives. Students in this course will also learn from guest lecturers, a film series, and a number of collaborative, leadership-based projects.

The HyFlex Advantage Guided by the resolve of our adult learners who perform daily feats of balance in their professional and home lives to hone their leadership skills with a Nichols MBA, Master’s of Organizational Leadership or a certificate program, we introduced a course delivery model that allows non-traditional students to customize their optimal educational experience.

The HyFlex format, which stands for hybrid flexibility, enables students to choose between online and classroom-based instruction on a weekly (or regular) basis and tailor coursework to their individual needs and learning preferences. Through technology, students can remote into

the classroom wherever they are in the world and participate just as if they are sitting in the classroom. HyFlex offers flexibility and options, depending on how students learn best…in an asynchronous online format, a synchronous remote format or a face-to-face format in the same engaging classroom.

Fellows, who serve as resources for students in freshman writing courses, and two Communications Fellows, who assist the marketing efforts of the Admissions Office. Each position involves up to 10 hours of work per week and is “scaffolded” so that the student fellows progressively take on more areas of responsibility in future terms.

Leadership Training on Campus Nichols received a three-year grant from the Davis Educational Foundation based in Yarmouth, Maine, to develop student leadership skills in a range of part-time jobs around campus.

The $47,800 awarded by the foundation for the project is funding positions for three student Writing

As promised in the grant proposal, Nichols is funding student jobs in other areas of the College. Most notable is the force of nearly two dozen undergraduates who staff the school’s call center, from which they contact potential students to promote a Nichols education and answer questions.

Brand recognition As part of our effort to build the leadership brand, the College launched a new tagline—Learn. Lead.

Succeed.—that captures our mission and unveiled a new logo that conveys strength, confidence and dynamism. With a nod to tradition, the “N” encased in a shield is an elegant and contemporary symbol of the quality, value and durability that are the hallmarks of Nichols. With this new logo, a fresh look has been given to the College’s marketing materials, advertising and a new mobile-friendly website.

www.nichols.edu

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PRESIDENT’S REPORT

“ Coming to Nichols was the hardest

decision that I’ve made to date, but it has also been my best decision.”

Irving Eggleston Jr. ’16 Double Major: Accounting and Sport Management Activities: Basketball Team; Teaching Assistant, Professional Development Seminar; Orientation Leader; Vice President, Poetry Club; Accounting Club; Employee, Athletics Department and WOW Wings Snack Bar; Volunteer, Webster-Dudley Boys & Girls Club

Jackie Khillah ’15 Major: International Business, minor in Business Communication Activities: Captain, Women’s Cross Country and Women’s Track & Field teams; Treasurer, Class of 2015; Teaching Assistant, Professional Development Seminar; Peer Tutor, Academic Resource Center; Student Alumni Society; Nichols Honors Scholar; Zeta Alpha Phi Honor Society

“ The opportunities Nichols provided

me during my years here have allowed me to grow into the leader I am today.

Between all of my classes and campus involvement, I have been prepared to take on more responsibility and to learn how to balance my school and social lives.”

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www.nichols.edu

“ Nichols College helped me develop my leadership skills on and off the court as well as friendships and relationships that I will have for the rest of my life.”

Ryan Sheehan ’14 Major: International Business, minor in Marketing Activities: Captain, Basketball Team; President/ Treasurer, Student Athlete Advisory Committee; Chi Alpha Sigma National Collegiate Athlete and Zeta Alpha Phi honor societies; Student Athlete Leadership Program; Volunteer, Miracle League; Big Brother, Webster-Dudley Boys & Girls Club

Paola M. Solano ’17 Majors: Marketing and General Business Management Activities: Secretary, Class of 2017; Membership Chair, Student Alumni Society; Teaching Assistant, Professional Development Seminar; Management Club; Student Assistant, Alumni Relations; Nichols Honors Scholar

“ Nichols is a small school with numerous opportunities. This past year, my parents, friends, faculty and staff have seen me grow as an individual.

Nichols has helped shape me into who I am today and the person I strive to become tomorrow. As I enter my sophomore year, I am thankful and proud to be a Bison!”

www.nichols.edu

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Fueling the vision through growth

day division fall enrollment

1081

1069

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1081

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13

Fall 2014

20

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Fall 2013

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Fall 2012

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Fall 2010 Fall 2011

day division application for admission

Day Division Applications for Admission

day division application for admission

3000 2500 3000 2000 2500 1500 2000 1000

2348

2268

2058

2348

2268

2058

2499

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Fall 2014

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1071

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Fall 2010 Fall 2011

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20

We appear to be on the right track.

With nearly 1,200 undergraduate students on campus this fall, enrollment is at a record high. In the coming years, we will continue to fine-tune recruitment and retention

1400 1000

05

With an emphasis on attracting promising leaders, the College has been able to systematically expand its applicant pool as well as raise admissions standards. Efforts in recruitment, retention and student success continue to yield more dedicated and academically prepared students who are motivated to fulfill their educational and professional goals at Nichols. In recent years, these include raising the threshold of acceptable SAT scores, developing an innovative alert system to identify and reach out to at-risk students, increasing the percentage of classes taught by full-time faculty, and instituting the Bison Bridge Program to better prepare some of our incoming students to meet the academic and social challenges that lie ahead.

day division fall enrollment

1200 Day Division Fall Enrollment

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T

o fuel the vision, remain competitive and ensure the ongoing success of our students, Nichols is focused on enhancing its long-term financial health through a multi-pronged approach that includes growing both enrollment and endowment.

1400

retention rated-first time students 80.00%

60.00%

72.44%

69.18%

70.00% 59.38%

61.58%

Fall 2010 Fall 2011

Fall 2012

59.66%

50.00% 40.00% 30.00% 20.00% 10.00%

First Time Student Enrollment 450

331

320

300

13

20

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11

20

20

10

20

09

08

20

07

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06

SAT Scores (Math and Writing)— First Time Students

381

350

Fall 2014

day division SAT scores math and writing

410 392

Fall 2013

With nearly 1,200 undergraduate students on campus this fall, enrollment is at a record high.

first timestudent enrollment

400

20

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0.00%

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830

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150

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Transformative gifts In 2012, Nichols College announced it had received its single largest gift commitment— $5 million to advance the mission and vision of Nichols. Inspired by the generosity of this donor, who wishes to remain anonymous, John H. Davis ’72, a long-time trustee and benefactor of Nichols, also pledged $5 million.

Gifts of this magnitude are unprecedented at Nichols and have the potential to transform the College in any number of ways. As yet unrestricted, both will be used to support strategic initiatives. This year, Nichols also received a $1 million commitment from John H. McClutchy Jr. ’72, chairman of the Board of Trustees, and Trustee Tom Niles ’63. Each of these gifts represents a heightened level of confidence in the leadership, strategic direction, and ability of Nichols to become a college of choice for business and leadership education.

Retention Rates—First Time Students— 1st toretention 2nd Yearrated-first time students 80.00% 69.18%

70.00% 59.38%

61.58%

Fall 2010 Fall 2011

Fall 2012

59.66%

60.00%

70.34%

50.00% 40.00% 30.00% 20.00% 10.00%

12

Fall 2014

11 20 12 20 13

0

Fall 2013

20

9

20 1

8

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7

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6

20 0

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5

0.00%

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day division SAT scores math adn writing

In the coming years, we will continue to fine-tune recruitment and retention strategies to enhance the diversity and engagement of our student body as we expand curricular and co-curricular opportunities.

growth in endowment 16 14

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growth in endowment 12 Growth in Endowment (in millions) 10 16

104 1.58

2

2017

13

2014

Goal

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Growth in Endowed Scholarships

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20

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2000

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The number of endowed scholarships has increased steadily over the past few years. In fiscal year 2014, we added three new scholarships for a total of 27.

As we pursue investment strategies to maximize returns and cost containment initiatives to realize greater savings, we will continue to rely on the generosity of alumni and friends to make that much-needed scholarship investment in Nichols and our students.

6.28

5.08

20

Ninety-eight percent of Nichols students receive financial assistance.

In the past year, the total amount of aid awarded to undergraduate students, including work study payments, institutional funds, alternative loans and scholarships, was $15.5 million. Even at that rate, Nichols meets about 70 percent of student need.

With an average gap of $10,000, we are unaffordable to many students who might otherwise attend or complete their degrees at Nichols, and we are committed to helping ease that burden.

126

05

As a tuition-dependent institution, Nichols needs a healthy endowment to fund new and/or improved initiatives, distinctive programming, and capital enhancements. Growth in endowment also directly impacts the success of our students by providing critical scholarship aid.

14

148

20

strategies to enhance the diversity and engagement of our student body as we expand curricular and co-curricular opportunities, such as internship placements, to ensure our students are primed for success.

www.nichols.edu

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PRESIDENT’S REPORT

“ I like the close community at Nichols.

You really know all the professors and almost every other student on campus.

Playing sports and getting involved with orientation has helped me improve my leadership skills every step of the way.

I’m glad I chose Nichols because of the opportunities.”

Reilly Flaherty ’17 Major: Sport Management Activities: Orientation Leader; Counselor, Bison Bridge Program; Lacrosse and Ice Hockey teams

Patrick Hoey ’15 Major: Marketing Activities: Student Ambassador; Student Tele-counselor; Orientation Leader; Marketing and Communications Club; Flag Football and Intramural Softball clubs; Campus Activities Board; Lead Chanter at Athletic Events

“ Nichols has been nothing but the best

years of my life so far. I am receiving the proper tools to succeed while receiving an education. There are so many opportunities to make a difference here. Nichols truly is creating the leaders for tomorrow and helping us to build a professional network.”

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www.nichols.edu

“ Along with real-world business

education, Nichols has provided me with numerous opportunities to cultivate my teamwork and leadership skills, both inside and outside the classroom.”

Amber Tariq ’16 Major: Accounting, minor in Business Communication Activities: Teaching Assistant, Professional Development Seminar; Nichols Reads Committee; Commuter Council; Student Representative, Empowering Women in Business Conference; Books for Africa; Zeta Alpha Phi Honor Society; Nichols Honors Scholar

Malcolm Thomas ’16 Major: Marketing Activities: President, Campus Activities Board; Resident Assistant; Orientation Leader

“ Nichols is not just a college to me.

There are great people on my team that support me and ensure my success, making Nichols feel like my home.”

www.nichols.edu

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The changing campus

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he focus on student success continually drives Nichols to improve its learning and living environment. As teaching methods and technology evolve and the needs and expectations of our students grow more complex, Nichols is determined to build and renovate campus facilities that engage students and fully prepare them for their roles as future leaders.

In 2014, Nichols secured $20 million in bonds to support several capital projects to that end, namely a new academic building and renovations to fitness and recreational facilities.

Construction on both projects is currently underway.

The new academic building, which is scheduled to open in the fall of 2015, will house four collaborative classrooms designed to enhance team work, a student board room, and a visual media lab. The building will consolidate academic advising, the registrar, and learning services to give students a one-stop shop for enhanced customer service, and will also house the Institute for Women’s Leadership and faculty offices.

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www.nichols.edu

Nichols is determined to build and renovate campus facilities that engage students.

Distinctive design elements of the new building include a three-story atrium with a granite water feature, several breakout areas for studying, gathering, or group work, and a patio/ garden that will bridge the academic building with neighboring Davis Hall and serve as the primary entrance for students.

Meeting the growing workout needs of our athletes and the number of students who desire to maintain their athletic fitness is a top priority at Nichols. Renovations to the Recreation and Athletic Center will include additional locker rooms, a new fitness center, and a weight room.

It will also provide separate spaces for athletic team workouts and others who wish to take advantage of the expanded facilities for personal health or fitness.

www.nichols.edu

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PRESIDENT’S REPORT

“ M y experience at Nichols College has

been nothing but positive. From day one, each of my professors has provided me with exceptional learning opportunities and guidance. The small, close-knit community creates a comfortable atmosphere where each student can thrive.”

Jaime Miglionico ’16 Major: Psychology Activities: Peer Tutor, Academic Resource Center; Teaching Assistant, Professional Development Seminar; Nichols Reads Committee; Commuter Council; Zeta Alpha Phi Honor Society; Nichols Honors Scholar; Peer Mentor, Bartlett High School Pipeline Program; Empowering Women in Business Conference

Kevin Legendre ’15 Major: Sport Management Activities: Corporate Partnership Intern, Boston Celtics; Event Management Intern, Robert C. Fischer Institute for Policy and Culture; College Research Case Study Competition (Columbia, S.C.); Sport Management Club; Teaching Assistant, Professional Development Seminar; Zeta Alpha Phi Honor Society

“ I have had the opportunity to do an

internship with the Fischer Institute and the Boston Celtics. Nichols College is helping me to develop my leadership skills so that I can take on challenges and grow both personally and professionally.”

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www.nichols.edu

Strong and supportive volunteer leadership

A

strong and supportive Board of Trustees is integral to the continued success of the College and the achievement of our vision. As the governing body, the Board of Trustees is responsible for all academic, administrative, and financial affairs within the College. In this capacity, the board also lends its expertise and talents to enhance the College’s position as a forerunner in business education. The board is an untiring resource and represents our most generous benefactors and fervent advocates in ensuring that the mission of the College is fulfilled.

Board of Trustees Constantine Alexander, Secretary Senior Counsel, Nutter, McClennen & Fish LLP Joseph T. Bartulis Jr. Officer, Fletcher Tilton PC Randall V. Becker ’83 MBA’96 Executive Vice President and CFO, MAPFRE USA Corp.

David G. Bedard ’86 Senior Managing Director and CFO, New York Life Investments Group Jane T. Birckhead Vice President & Partner, Hukill Hazlett Harrington Agency Inc. James W. Coghlin Sr. ’67 Chairman & Coach, Coghlin Companies Inc. John H. Davis ’72 Chairman & CEO, Ventry Industries LLC Steven A. Davis ’80 Partner, Ventry Industries LLC Edwin B. Donahue ’72 Former Senior Vice President/CFO, Vitruvian Exploration LLC Asuman Goksel Vice President, IBEC Consultancy Education

Samuel R. Haines ’73 Chairman & CEO, Gear Motions Inc.

Alan S. Peppel MBA ’98 Chairman & CEO, Affinity Group Inc.

David G. Hale ’75 Senior Loan Officer, Salem Five Co. LLC

Martin J. Power ’78 Trading Manager, Koch Supply & Trading LP

Thomas J. Hall ’69, Vice Chair Managing Director-Investments, Wells Fargo Advisors LLC

Tammy A. Wolf ’94 Services Account Manager, Hewlett Packard

Kurt R. Harrington ’74, Treasurer Executive Vice President & CFO, Arlington Asset Investment Corp.

Robert B. Kuppenheimer ’69 Vice President & Managing Director, Distribution Development, Nuveen Investments LLC

Trustee Emeriti Howard K.O. Chong, Jr. ’64 President & CEO, Healani Land Co. Inc. John B. Dirlam President, J.I. Morris Co.

Peter L. Lynch ’74 Retired President, CEO & Chairman, Winn-Dixie Stores Inc.

Gerald Fels ’66 Vice Chairman of the Board, MAPFRE USA Corp.

John H. McClutchy Jr. ’72, Chair President, JHM Financial Group LLC

Richard B. Hardy Chairman Emeritus, Affinity Group Inc.

Robert E. Miller, PhD Retired Founding President, Quinebaug Valley Community College Senator Richard T. Moore Massachusetts State House Thomas H. Niles ’63 Senior Advisor, Boston Residential Group LLC

David F. Lombard ’65 Retired Publications Consultant, Jostens, Inc. Robert J. Vaudreuil ’77 Retired President & CEO, Protector Group Insurance Agency Inc.

www.nichols.edu

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Nichols by the numbers

1,198

Day students enrolled at Nichols College in the fall of 2014—our largest enrollment of record.

76.6 93%

$

Million

Annual direct impact Nichols College had on the local economy in 2014

of 2013 Nichols graduates employed or enrolled in a graduate program within six months of graduation

35+

7

Student clubs, organizations, and honor societies available at Nichols

National ranking among business schools for return on investment by Payscale.com

40% of Nichols alumni become presidents, CEOs or business owners

75% 50%

of hours taught by full-time faculty at Nichols College

20

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of Nichols students associated with a varsity or club sport

“

While we are guided by a vision to be a college of choice for business and leadership education, the true inspiration for our efforts comes from the students who best exemplify our new tagline, Learn. Lead.

Succeed.

“

Design: © Peapod Design, New Canaan, CT

—President Susan West Engelkemeyer

Center Road Dudley, MA 01571