SMC Introduces Strategic VSIP Initiative

Dear Saint Mary’s Faculty and Staff,

I would like to provide you with an update following my January 5 message to the community regarding strategic directions and institutional planning. The College has carefully evaluated its cost centers, its projected long-term expenditures, and the goal of realigning our resources to better support the needs of our students and the initiatives in our strategic plan. As a result of our financial analysis, input from interviews with staff and faculty held during the second week of January, and recommendations from Sibson Consulting we are ready to begin implementing thoughtful and strategic measures to reduce operating expenses, limit increases to tuition, and increase avenues of revenue.

Saint Mary’s is on firm financial ground. Even so, if we continue our current practices, our stability will be susceptible to the increasing volatility in the higher education environment. Therefore, we must take appropriate steps to realign our resources. One important strategy will be offering a Voluntary Separation Incentive Program (VSIP) to qualified employees. The Saint Mary’s College Board of Trustees endorsed this recommendation at their retreat and meeting last weekend.

The VSIP recognizes the loyalty and contributions of our staff and faculty and is consistent with our Lasallian Catholic values, while at the same time addresses our need to align our infrastructure and operating costs with the size and scope of our student population and the programs that serve them. The VSIP is entirely voluntary and includes transitional support for those participating in it. Please click here for more details regarding VSIP eligibility requirements and benefits.

I have asked our new Vice President for Finance and Administration, Susan Wallace, to begin contacting eligible employees regarding this new opportunity tomorrow via email.

Additional campus-wide communications about this program will be forthcoming. Two open information sessions about VSIP are scheduled on March 9 from 11:00 a.m. to 12:00 noon, and from 1:00 to 2:00 p.m. in Claeys Lounge.

Thank you all for your commitment to Saint Mary’s and its mission.

Sincerely,

James Donahue
President