2. 10 AUGUST 2011

3. 09 august: summary INTEGRATED APPROACH TO FWP IN THE WORKPLACE AS PART OF EWP STRATEGY (Holistic) 2. Goal & Purpose of A FWP IMPACT OF FINANCIAL PROBLEMS / OVER- INDEBTEDNESS (Employees & Employer) 4. INDICATORS OF FINANCIAL & Psycho-social wellness (How do we measure the success of our FWP?) 5. BMW Financial wellness programme: Pilot project Results& Lessons learnt

4. Implementing a Financial Wellness Programme (FWP)

5. Implementing a fWP Step 1: Establish the need Listen to / Ask Employees / Management Conduct focus groups /meetings (Involve role players) Establish success indicators (Why the company wants / needs the FWP) - Payslips (% of salary they take home) - No of Judgments /Creditors - No of Loans & Salary advances - Prepared for retirement /Savings (Rainy day) - Psycho-social wellness (Morale) & General health -Poor performance / Productivity (Missed calls, Absenteeism) - Bribery / Fraud / Theft

6. Implementing a fWP Step 2: Establish principles Confidentiality Meet the needs of the individual employee & family Sustainable No promotion of brands or financial products Based on behavioural change and life skills OHS (On-site Clinic) or HR access? Other important principles to consider in Kenya?

7. Implementing a fWP Step 3: Ensure leadership and commitment Needs high level of commitment Management must understand & support the FWP (Buy-in) Establish an Action team to : - Direct the programme around specific needs - Ensure that an action plan is developed - Determine a communication strategy - Allocate & monitor the budget - Ensure a M&E strategy (Feedback, Success indicators)

9. Implementing a fWP Keep employees productive and present at work Off-site services could pose a challenge On-site services usually provide better utilization and results - accessible - convenient - reduces drop-out rate Managers should realise benefits to be co-operative Negotiate upfront suitable times to see counsellor Step 5: Handle the logistics

10. Implementing a fWP Establish referral resources : Financial and Legal expertise Private practitioners (E.g. Health Practitioners, Psychologists, Social workers) Specialists (E.g. Psychiatrist) Other community resources (E.g. Rehabilitation centres, Welfare organisations, Clinics, Private sector/ Government initiatives ) Step 6: Obtain additional support

11. Implementing a fWP Establish communication within the organisation Action team to take responsibility Target group Media (Posters, Newsletters, Brochures) Communication plan (Intra / Internet) Keep employees interested in a positive way Step 7: Communicate

12. Implementing a fWP Track participation on a monthly basis Focus on indicators of success Utilise Monitoring & Evaluation tools - Questionnaires - Interviews - Feedback meetings Decide who will take responsibility for data collection, monitoring and evaluation of progress - When and how? Step 8: Monitoring and Evaluation

13. Monitoring and evaluation Reasons for M&E Stakeholders : Are we meeting our goals and objectives? Transparency and Accountability Decision making and Planning Consider the following: What do we want to measure? (Goals - indicators of success) How can we measure this? (Methods - Instruments) Who will apply the instruments? How will the data be collected, analysed and interpreted?

14. Monitoring and evaluation INSTRUMENTS FOR MEASURING Questionnaire, Interviews, Financial info Critical indicators of success Financial success: Amount of debt, No of creditors, judgments, garnishee orders, Income versus Expenditure, Bank loans, Staff loans, Zero pay, Micro lending, Shylocks, Budget, Savings, Financial Literacy Psycho-social success: Quality of life, Financial behaviour, Support, Ownership and decision making

15. Monitoring and evaluation DATA COLLECTION Collect data from all participants Complete questionnaires in full Collect data before the start of intervention and at termination or after 6 months – 12 months DATA ANALYSIS Pre- and post test data for every participant Dealing with drop-outs The value of other sources of information

16. Monitoring and evaluation DISPLAYING AND INTERPRETING RESULTS Create visual ways to display results Did the situation improve? Indicate soft and hard factors Compare results Interpretation

17. IMPORTANT Establish Monitoring & Evaluation from the beginning Measure critical indicators of success Give counsellors training in the use of the measuring instruments (questionnaire) Complete all relevant data for every participant (pre-and post test) Utilize statistics expert, if possible Use results to justify/promote FWP

18. Implementing a fwp

19. Basics of the counselling process

20. the psycho-social counselling process Goal and purpose of Psycho-social counselling Establish relationship Listen – deal with emotions Clarify expectations Gather information (M&E Tools) Financial goals Financial attitude Financial knowledge

21. the PSYCHO-SOCIAlcounselling process Assess and address psycho-social needs Quality of life & Support systems - Involve significant others, family, friends, employer General financial wellness Locus of control Deeper understanding of situation

22. the PSYCHO-SOCIAlcounselling process Assess and address psycho-social needs Plan of action: - Improve financial knowledge, behaviour, attitude - Empower & Encourage - Create long-term perspectives Referral - Community resources - Debt counsellors - Financial and Legal Advisors

23. “ It is easier to improve a skill than to stop a negative behaviour ”- Kaplan

25. acceptable to the creditorsTreat debt the same e.g. bonds, vehicle finance, loans Get the employee out of debt, back into the economy The time that employee is under debt review must be fair to employee and creditor

26. the debt counselling process Assess and address financial needs Obtain overview Crisis intervention Money for emergencies Daily expenses covered Plan of action Referral

27. THE DEBT COUNSELLING PROCESS Results to be achieved from Debt Counselling The rapid rehabilitation of the over-indebted employee (Re-active and pro-active) Recovery of the affected debts in a reasonable time Fairness to all credit providers on an accepted formula Process kept away from Bureaucracy and Courts Paymaster is secure and auditable The minimization of costs involved

28. Basics of Personal Financial Management

30. BASICS OF PERSONAL FINANCIAL MANAGEMENT Managing Personal Finances People are battling to make ends meet - Why? They have never been exposed to the basic principles of managing their monthly income (Financial literacy) They end up with an empty bank account a few days after receiving a salary They have to learn how to stretch their money further They do not manage their finances carefully and implement proper financial planning They do not make provision for possible changes in economy (interest) increase in services etc.

31. HOW MUCH DO YOU SEE OF AN ICEBERG?

32. ONLY 10% OF ANY ICEBERG IS VISIBLE. THE REMAINING 90% IS BELOW SEA LEVEL.

33. Behaviour Knowledge KNOWN TO OTHERS SEA LEVEL UNKNOWN TO OTHERS ATTITUDE MOTIVES – ETHICS - BELIEFS

34. BASICS OF PERSONAL FINANCIAL MANAGEMENT Principles of Financial management Changing of financial needs over time and planning for future financial needs Financial dreams and goals (Short, medium and long term) Planning and management of expenses How to build a buffer for unexpected external influences How to decrease your expenses and / or increase your income

35. BASICS OF PERSONAL FINANCIAL MANAGEMENT Principles of Financial management Complain re products, services and / or violation of Consumer rights (Know your rights as a Consumer in your country) Credit Reference Bureau (avoiding or rectifying being listed) – this is your financial footprint) The dangers of gambling and winning money Shylocks / Micro lenders / Bank loans (Red and green lights) Financial advisors (the consequences of advice from the wrong person)

36. BASICS OF PERSONAL FINANCIAL MANAGEMENT The A-Z of budgeting Budget daily, weekly, monthly, yearly (revisit) Budgeting in a family as a unit Listing of monthly family income, deductions, fixed payments, variable payments Action plan to balance own income and expenditure by reducing expenditure or increasing income Compare actual expenses versus the budget for the same month and explainthe reason for any variances Listing of possible unexpected occurrences and the financial consequences.

37. BASICS OF PERSONAL FINANCIAL MANAGEMENT Guideline to a personal budget

38. Positioning the state of your personal finances Financing a vehicle Cost of credit on household items Planning your finances Buying a property or home Financial management Credit Budgeting © LIVWELL Training Institute (Pty) Ltd 2005

39. CONCLUSION Integrated Employee wellness approach (FWP part of Employee wellness strategy) Employees will be able to understand financial management in their working environment (Staying within the organisation’s budget) They will stop blaming the employer and ‘low salaries’ for their financial problems A lack of motivation, absenteeism and poor concentration will be minimised Employees feel valued which adds to the organisation’s credibility as an employer Financial sound employees- Less temptation for theft, corruption and bribery Lower staff turnover Employees can face people and answer telephones as the fear for debt collectors is removed Employees with a positive attitude are able to deliver a better service! Healthy people = Healthy company = Wealthy company!

40. Evaluation of the Workshop

41. EVALUATION OF THE WORKSHOP Goals & Expectations Evaluations forms

42. Thank you for making a difference with us! diverse expertise ● dynamic approach ● dedication