If you select multiple initialized string declarations, IDEA should offer an intention to make them all members of an enum.

static final String FOO = "foo"; static final String BAR = "bar"; ... baz(FOO);

would become

enum Whatever { foo, bar }; ... baz(Whatever.foo.name());

The intention dialog could also offer to push the use of the enum down into methods, so the code instead could become

baz(Whatever.foo);