In its first meeting of the semester yesterday, the Faculty Senate discussed the introduction of the new Human Resources Restructuring System and the effects of the economy on University finances.
In his report on University affairs, University President John T. Casteen, III provided an overview of construction, financial and academic updates.
Despite the downturn in the economy, the University’s finances have not yet seen much of an effect, Casteen said, noting, “we have to wait a bit to see how this will play out.”
Recent turbulence in the stock market and housing market, as well as reductions in Virginia’s overall budget, are all causes of financial concern to the University, but may not present long-term complications, Faculty Senate Chair Edmund Kitch said. The only difficulties the University might face in combating these economic issues involve coping with such factors in the short term, he noted.
“It’s happened over and over again, and the University has always found ways to overcome it,” Kitch said.
The Faculty Senate also heard from Chief Human Resource Officer Susan Carkeek, who announced the introduction of new employment categories created through the Human Resources Restructuring System. The plan was previously discussed at the General Faculty Council meeting earlier this month.
The new system will involve implementing changes in career development practices, performance evaluation and compensation procedures. The new system also will reclassify employee categories in an effort to better address the needs of both faculty and staff members, Carkeek noted.
The changes also include the introduction of supplemental benefit credit, which is a set amount of funding that the University will pay to help offset the cost of payroll reductions, such as parking fees and health insurance. These measures are intended to help low-income staff members for whom even the slightest payroll reductions can pose a financial problem, Carkeek added.
The new policies will go into effect in January 2009, and all University employees hired before July 1, 2006 will have the chance to choose whether they would like to use the new classification system, Carkeek said.
Looking to the future, Carkeek noted that while the University is well-known for its student experience, her goal is that one day people will soon be able to say the same for its staff.
“We want to be equally well-known for the quality of our employees’ experience,” she said.
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