Financial Strategy

Mission

The financial mission at UMD is to:

• Serve the campus by processing transactions in an efficient and effective manner, consistent with University policies and procedures, and providing accurate and timely financial information
• Maintain or improve our current levels of service
• Retain the necessary financial knowledge, skills, and abilities across the UMD campus to ensure future success
• Develop plans that are logical and creative, and that improve our delivery of financial services to the campus and University

Strategy

The strategy which will be employed at UMD is to:

• Work toward continuously improving and streamlining key processes and services, while maintaining a focus on customer service and accountability at the department level
• Utilize tools and technology wisely, to enhance the performance and outcomes of our fiscal responsibilities
• Cluster job duties at a level that makes sense for our organization, to maintain or improve service and performance
• Clearly define the job duties, expectations and competencies necessary for any financial position
• Assist with succession planning and development so that adequate financial knowledge, skills, and abilities are retained across the UMD campus irrespective of personnel changes

Human Resources / Systems Strategy

Mission

The Human Resources mission at UMD is to:

• Recruit, develop and retain a diverse productive workforce
• Provide services and information which balance the unique needs of employees and employing units, consistent with the University’s policies and procedures, laws and regulations and collective bargaining units
• Assist all employees as they attain satisfying and rewarding work lives
• Reflect the high value that UMD places on its employees and the work that they perform

Strategy

The Human Resources strategies used to accomplish the mission will be to:

• Creatively develop a plan for restructuring Finance and HR functions
• Ensure ample flow of information and open communication about the process throughout UMD, and provide for resolution of problems or complaints
• Reassign financial duties as necessary based upon Org. Design analysis
• Ensure compliance with University policy and collective bargaining agreements
• Provide appropriate staffing for the effective implementation of the EFS project through:
  • revised job descriptions with clearly defined job duties, expectations and competencies
  • reassigning current, qualified UMD staff to fill the new positions
• Make certain that the necessary training and tools are available to:
  • Staff to successfully perform their assigned roles in the new financial system
  • Other employees, interested in finance-related positions, as a part of career development
  • Maintain necessary cross-training for succession purposes, so that adequate depth of staff with financial knowledge, skills, and abilities are retained across the UMD campus
• Encourage initiative and innovation in creating work environments in which employees function as a team, assuming responsibilities for identifying opportunities and solving problems
• Provide ongoing change management training, coaching and resources as needed.
• Reward and recognize individuals, and look for recognition opportunities throughout the process to maximize employee motivation and acknowledge their value

Communications Strategy

Mission

The mission of our Organizational Design Team’s communication strategy is to produce a well-informed and well-prepared group of financial employees, who are ready for the implementation of EFS, while ensuring that all non-financial staff also have access to information on the changes and potential that EFS will bring to the campus and the University.

Strategy

In order to successfully meet its mission with respect to internal and external communication, our Organizational Design Team will employ the following strategies:

• Create a sense of community with respect to the new EFS program through timely information that is accurate and relevant to the UMD campus.
• Ensure that both internal (EFS project) groups and external (financial system) users are receiving the most up-to-date information, which is appropriate and tailored to their needs and concerns.
• Openly encourage staff to offer their questions and concerns, responding to them promptly and in a manner that promotes further dialogue and eases the anxiety that normally accompanies change.
• Create a UMD-specific EFS website with a link from the UMD-Business Office homepage. This EFS site will provide general and UMD-specific FAQs, the teaser question/answer of the month, a schedule of any EFS or Change Management upcoming events at UMD, and a link to the University’s EFS webpage.
• Send frequent e-mail updates to UMD Area Class Managers, Area Managers, Departmental Liaisons and HR Pay Reps that provide the most current information on EFS progress on the UMD campus.
• Send periodic Business Announce messages that contain general EFS updates and/or a “teaser” question regarding EFS (which will be answered on the UMD-EFS website).
• Provide a single e-mail address or alias where staff can send questions.
• Disseminate the questions that have been received, along with their answers, under the FAQ heading on the UMD-EFS website.
• Continue to distribute EFS posters, raising awareness and interest in the new system.