The N.C. General Assembly created the faculty recruitment and retention fund in 2006 with an initial investment of $5 million with the goal of keeping faculty members from being lured to other institutions.
Since the fund’s establishment, the legislature has injected supplemental appropriations into the fund, and its size has ranged from less than $100,000 to $10 million.
The state allocated $3 million to the fund this summer, but administrators say that’s not enough to keep top faculty.
Given the cash-strapped nature of public finances across the country, seeking additional state support for the fund is problematic.
Alumni should consider donating specifically toward the effort of faculty retention, given the legacy of the UNC education on their lives after graduation.
Even in the weak economy, the University’s fundraising successes this year create an opportunity to garner more private support for faculty retention, an area that should not languish because of insufficient state support.
Weak public finances do not mean that we should relent our efforts to maximize the quality of a UNC education, which is contingent upon attracting the best students, which requires having the best professors.
Quality professorship is a keystone to maintaining the University’s strong academic record.
In this competitive academic market, substantial pay raises are essential to the recruitment and retention of professors.
