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Strategic Plan 2013-2016

Strategic Plan 225

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2013-2016 Strategic Plan

Preface

2013 Environmental Scan

Strategic Priorities, Outcomes and Strategies

Preface

fmi*igf is a national organization led by volunteers that operates as a network of chapters located in all provinces across Canada. A national board and executive oversees the fmi*igf and facilitates and enables regular dialogue, coordination of efforts and sharing among all chapters. There is a national office that supports the direction of the national and chapter boards of directors.

fmi*igf offers services to over 2,400 members and conducts seminars and learning events for members and non-members across the country.  Seminars focus on contemporary themes related to the financial management of public sector resources. Members and seminar participants come from federal, provincial and municipal governments, as well as other organizations that are interested in financial management of public sector resources.

fmi*igf volunteers coordinate many local events, geared towards the specific needs and interest of local members as well as at least two national learning events.

Vision 2

"Excellence in public sector financial management"


Mission 2

fmi*igf is the leading source in Canada for professional development in new and emerging trends, best practices and topical issues to public sector financial management stakeholders.

Values 2

Member-focused - Members are the lifeblood of fmi*igf. Planning and delivery of all programs and services involves a thorough and on-going consideration of their needs.

Sharing - fmi*igf strives to continuously create opportunities for sharing of experiences, information and best practices among members and other public sector stakeholders.  Sharing leads to a strengthened membership and knowledgeable, well-informed and engaged members who contribute to excellence in the financial management of public sector resources.

Quality - We strive for the highest quality in programming and services to members. From information to members in the fmi*igf Journal, through to excellent speakers for events, quality is a constant driving force that guides decisions and progress.

Relevance - fmi*igf provides pertinent perspectives on the current challenges and best practices in public sector financial management. Relevance of programming is a paramount consideration in developing and delivering national and local events, so as to help ensure members are well informed on topical issues.

2013 Environmental Scan

The results of the following external and internal strategic review exercise brought greater focus to the priorities of the organization and will drive the need to find innovative ways to improve operational efficiency and effectiveness in a challenging fiscal environment.

Major External Trends

 

The environment in which fmi*igf has been operating has been rapidly changing over the last several years. Several major trends will have an impact on the future success of the organization, including reduced government funds for travel and training, increased competition for training offerings in the marketplace, new and emerging technology and tools, a shift to shared services, as well as important demographic changes and the requirement to address the very different needs of the incoming generation.

fmi*igf's brand is very strong, and its key products, such as PD week, webinars and PSMW, are very successful. Despite this, there is a pressing need for fmi*igf to become more nimble as an organization and be able to adapt to its rapidly changing environment.  With increasing competition for public sector conference and workshop dollars and increasingly restrictive travel and expense budgets available, it will be important for fmi*igf to diversify its offerings and find its unique differentiator in order to distinguish itself in the marketplace.

The following were highlighted as major trends that will have an impact on the future success of fmi*igf:

  • Reduced government funds for training, travel, conferences, etc.
  • Shift to shared services.
  • Heavy staff reductions in the public service are leading to increased workloads and rising expectations of financial officers.
  • The next generation of financial officers have higher expectations - they expect and need to be heard, and they demand different channels of engagement.
  • Lots of competition for training e.g. (CA, CGA, CMA, unions, Deloitte, etc)
  • Increasing expectations around the use of technology for training.
  • Devaluation of soft skills training.
  • Renewed focus on leveraging partnerships.

Challenges

  The three greatest challenges currently facing fmi*igf are:
  • Its ability to remain nimble and relevant in a changing environment. A strategic review of the organizations' product and service offerings will help to ensure their continued relevance.
  • fmi*igf only reaches a small percentage of its pool of potential members. Strategies to reach out to various segments of this pool of potential members, including younger demographics, will strength the organization's reach.
  • Governance issues.

Internal Review

  The strategic review revealed the following internal trends/factors:
  • Chapter members and other stakeholders have little or no awareness that fmi*igf is a national organization. More work needs to be done on marketing and communications at both the chapter and national level.
  • Now more than ever, fmi*igf needs to continuously ask itself whether it is evolving at a pace that ensures it remains relevant and that its products are deemed of value to its members and stakeholders. This requires a review of current products to ensure they have evolved to meet the needs of our target audience and that they are sustainable for the long term.
  • fmi*igf needs to execute its social media strategy and leverage social media tools and channels to better engage members and stakeholders, and in particular to reach and engage members under 35 years of age.
  • Partnerships are absolutely essential and must remain a key objective/priority for fmi*igf. The organization should look for opportunities to partner, connect, network and/or affiliate with other organizations with similar missions.
  • The need to find a way to engage the next generation has been discussed many times. Establishing a youth champion who can represent that target segment was suggested as a way to help ensure fmi*igf remains relevant and in tune with the needs and expectations of the next generation.
  • There is a need to review and clarify roles and responsibilities at National Office.
  • Need to know the Comptroller General's priorities on an ongoing basis.
  • A suggestion was made to enhance information-sharing amongst chapters on a regular basis (e.g. on financial best practices).
  • There is a need to explore and redefine the value proposition for fmi*igf membership. Members need to be provided with clear benefits not offered to non-members.
  • Networking is seen as a huge benefit to membership. fmi*igf could be more strategic about how to leverage this.

 

Strategic Priorities, Outcomes and Strategies

This strategic plan prescribes a framework for action for fmi*igf for the next three years. Based on the data obtained in the environmental scan, there are five strategic priorities that will guide activities over the coming years to ensure focus on what is important. Within these five strategic priorities, eighteen explicit strategies are articulated to clarify the way forward for fmi*igf over the next three years, and out of those strategies, ten have been identified as strategies to address in year 1.

The strategic plan will be supported by an annual operational plan that will define specific activities to be undertaken to support the attainment of these longer term strategic priorities and outcomes. This strategic plan spans three years, and it is expected that progress will be made on specific priority strategies each year so that the overall vision and set of outcomes being articulated for the organization is accomplished in that time frame.

fmi*igf 3-Year Outcomes

 
  1. At national and chapter levels, aspiring leaders are fully represented on program committees and actively engaged in events and event design
  2. All chapters are thriving sustainably through the provision of relevant, high-quality products that experience increasing levels of involvement and participation.
  3. fmi*igf will have an effective and streamlined, accountable Board of Directors with a succession plan and clear lines of decision-making.
  4. fmi*igf has a pulse on all emerging issues and trends and is the "go-to" source for public sector financial management information through high-quality, innovative, relevant, timely products and services.
  5. There is increased awareness of fmi*igf as a national organization among key current and future stakeholders.

Outcome #1: Governance

  Effective governance is one of the key pieces of this strategic plan. Clear roles and responsibilities and lines of decision-making are critical to achieving accountability across the organization. Designing the fmi*igf board governance model will be one of the key steps towards achieving the 2016 vision. The first step will be to simplify and streamline the board of directors, and the second will be to delineate the lines of decision making and accountability across the board, chapters and national office.
 

Outcome

By 2016, fmi*igf will have an effective and streamlined, accountable Board of Directors with a succession plan and clear lines of decision-making.

 

Key Strategies

1.1   Design the fmi*igf board governance model (including succession planning.)
1.2   Design and deliver national/chapter board training (e.g. on governance, accountability, etc.).
1.3   Delineate the lines of decision-making and accountability across the board, chapters and National Office.

Outcome #2: Chapter and National Product Growth

  Having thriving chapters that are financially viable and that offer high quality events and programming through a strong volunteer base, is the ultimate measure of a successful national organization. To achieve this outcome, phase 1 will require gathering information on potential back-office support opportunities by determining the key functions national office could provide that would enable chapters to focus on external products/services and thrive. Succession planning will also be a key contributing factor to effective chapter leadership.
 
It is the role of national office to assess all of the product and service offerings that fall under the fmi*igf umbrella. Now more than ever, fmi*igf needs to continuously ask itself whether it is evolving at a pace that ensures it remains relevant and that its products and services are deemed of value to its members and stakeholders. Relevance of programming is a paramount consideration in developing and delivering national and local events, so as to help ensure members are well informed on topical issues. A review of national and chapter product and service offerings is required to ensure their continued relevance to fmi*igf stakeholders and communities and to identify new opportunities for programming.

Promoting a consistent fmi*igf brand across all chapters will play a key part in establishing the organization as the "go-to" source for public sector financial management information.
 

Outcome

By 2016, all chapters are thriving sustainably through the provision of relevant, high-quality products that experience increasing levels of involvement and participation.

   

Key Strategies

  
2.1   Provide shared back office / marketing services to chapters.
2.2   Review national and chapter product and service offerings to ensure continued relevance to community and identify new opportunities.
2.3   Establish an fmi*igf brand agreement with chapters, which outlines performance standards, etc. 

Outcome #3: Thought Leadership

  In order to establish itself as the "go-to" source for public sector financial management information, fmi*igf must deliver high-quality, relevant, timely products and services. Several strategies were articulated to achieve this outcome, the first of which is to establish an ongoing dialogue with key stakeholders. This will also require the identification of professional bodies and other organizations and establish mutually beneficial relationships that can meet both their and fmi*igf objectives. An example would be the ability to establish an ongoing dialogue with the Comptroller General to ensure that the OCG's priorities are informing programing such as PD week.

There is an opportunity to formalize the thought leadership function and capability within fmi*igf, and to establish an integrated communication strategy to disseminate this thought leadership to stakeholders. Recognizing where all governments are going in transforming their financial functions, one key area where thought leadership is expected to focus on is enabling financial management transformation at all levels of government.   
 

Outcome

By 2016, fmi*igf has a pulse on all emerging issues and trends and is the "go-to" source for public sector financial management information through high-quality, innovative, relevant, timely products and services.

    

Key Strategies 

   
3.1   Establish an ongoing partnership and dialogue with key stakeholders.
3.2   Formalize the thought leadership function and capability within fmi*igf.
3.3   Establish an integrated communication strategy to disseminate thought leadership.
3.4   Integrate thought leadership into existing vehicles right across product lines, such as PD Week, and the journal.

Outcome #4: National Recognition   

  There is a declining trend in participation in fmi*igf training and events that needs to be corrected. Increasing awareness of fmi*igf as a national organization among current and future stakeholders by marketing it as such will help to correct this trend. A national marketing plan will be developed in collaboration with chapters and implementation of a national marketing campaign will begin in Year 1. A national registration system will help to ensure that fmi*igf has a greater grasp on member needs.
 

Outcome

By 2016, there is increased awareness of fmi*igf as a national organization among key current and future stakeholders.

    

Key Strategies  

   
4.1   Undertake an annual national/chapter brand compliance review.
4.2   Develop a national marketing plan in collaboration with chapters and undertake a national marketing campaign for fmi*igf.
4.3   Implement a national registration system/ database (and establish communication from national.)
4.4   Pursue national sponsorship and affiliation opportunities.
One key strategy for fmi*igf  will be to pursue national sponsorship and affiliation opportunities.

Outcome #5: Engagement of Aspiring Leaders

  Important demographic changes in recent years are forcing fmi*igf to address the very different needs of an incoming generation.  The next generation of financial officers have higher expectations - they expect and need to be heard, and they demand different channels of engagement. The goal is to enhance representation of this target group at events, create opportunities for aspiring leaders to participate in fmi*igf, and incorporate the voice of aspiring leaders in the thought leadership of the organization.  

Establishing an fmi*igf Aspiring Leaders Network (ALN) will help to ensure the organization remains relevant and in tune with the needs and expectations of the next generation. Tapping into existing networks, such as the Federal Youth Network or Young Professionals in Finance, will help facilitate the creation of fmi*igf's own network. The Aspiring Leaders Network would be an autonomous, self-defining  group; the purpose of which would be to meet others interested in financial management, share ideas and organize their own events. The first steps to move this forward will be to identify a youth champion and define what is meant by "aspiring leader".   
 

Outcome

By 2016, at national and chapter levels, aspiring leaders are fully represented on program committees and actively engaged in events and event design.

   

Key Strategies  

  
5.1   Establish an fmi*igf Aspiring Leaders Network.
5.2   Design and implement events and programming for aspiring leaders.
5.3   Create opportunities for aspiring leaders to participate in fmi*igf.
5.4   Engage aspiring leaders in thought leadership of the organization.