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ASPECTS OF BUILDING INDIVIDUAL AND

ORGANISATIONAL RESILIENCE TO ACHIEVE IMPACT

Ruth Benjamin-SwalesApril 2018

Grow and Maintain Savings Pool

(Inclusion, Maintenance)

Financial Literacy and Trustee Training

Economic Growth and Job Creation

(Infrastructure, SA Financial Centre, FSC)

ESD, Skills Development, Transformation

1 2

FOSTER THE FUTURE

FOSTER THE FUTURE – RESPONSE TO ACHIEVEMENT OF NATIONAL DEVELOPMENT PLAN

Stakeholder Event

2018 IFIE-IOSCO Conference

CASE STUDIES : BUILDING RESILIENCE IN INDIVIDUALS AND ORGANISATIONS

Coping with Dynamic Change: Aspects of Building Individual and Organisational Resilience to Achieve Impact

2018 IFIE IOSCO CONFERENCE

CASE STUDY1: FLAME

The programme targets unemployed youth and women, informal traders and micro and small enterprise owners, in peri-urban and rural communities.

The programme is delivered through a three-phased approach, each with their own unique outcomes:

PHASE 1: FINANCIAL LITERACY WORKSHOPS

PHASE 2: ENTREPRENEURSHIP & BUSINESS TRAINING (BOOTCAMP)

PHASE 3: BUSINESS DEVELOPMENT SUPPORT (INCUBATION)

Phase Inputs: Workshop Facilitators Financial Literacy

Content Workbooks

Phase Inputs: Workshop Facilitators Entrepreneurship and Business Content

Workbooks

Phase Inputs: Grant Funding Business Coaches Mentors and Specilaist Advisors

Phase Outcomes: Improve participants ability to make

informed financial decisions.

Phase Outcomes: Improve the entrepreneurial knowledge and skills of a

participant to increase the chances of success of new business start-ups

Phase Outcomes: Assist selected participants start, manage and grow their micro-

enterprises

FOC

US OF C

ASE



THEORY OF CHANGE MODEL

A process and output based approach that requires clarity about desired outcomes before deciding on forms of interventions or initiatives to achieve the outcomes.

What are we trying to change? What is the main problem we are trying to address? (Ultimate outcome of the project / programme)

What would need to change immediately on the way to achieving the intermediate outcome? (Immediate outcome)

What would need to change immediately on the way to achieving the intermediate outcome? (Immediate outcomes)

What needs to be done, what services or products or initiatives are needed to achieve the immediate outcomes? Outputs

What do we need to do in order produce the outputs or to deliver the initiatives? (activities to be undertaken)

What is needed in order to perform these required activities? (Inputs required)

Sustained behaviour change resulting in financial inclusion

through economic participation and overall improved well-being

Facilitate knowledge transfer / change in attitude and application

of CFE and ME development concepts

Specific actions towards achieving improved financial and personal

well-being

Willing participants /skilled facilitators/ relevant content re

CFE/ Soft Skills /Micro Enterprise (ME) development


Workshops/site visits/f2f mentorship & coaching

Knowledge transfer /change in attitude - build hope and self -

confidence - and change in behaviours

REACH

± 1095 people attended at least one session of the Financial Literacy during the 5 weeks of the component.

Financial Literacy Component61% Female

The programme reached mainly older people The average age of the participants was 48 years

85% of all participants earn less than R 15 000 per month

Geographic distribution

Hammanskraal: 30% Soshanguve: 20% Ga-Rankuwa: 13% Ledig: 10% Rustenburg: 10% Mabopane: 6% Phokeng: 5% Tlhabane: 5%

A large portion of the sample reported having

no income, and beneficiaries reporting dissatisfaction with the state of their financial

position

At the outset, beneficiaries were

generally dissatisfied with their lives, and the clear

majority were moderately stressed.


FLAME MONITORING & EVALUATION


A large portion of the sample reported having

no income, and beneficiaries reporting dissatisfaction with the state of their financial

position

At the outset, beneficiaries were

generally dissatisfied with their lives, and the clear

majority were moderately stressed.

KEY FINDINGS – Financial LiteracyFINANCIAL LITERACY COMPONENT

The proportion of respondents that answered financial literacy questions correctly, increased across all financial literacy questions

58%

51%

89%

81%

42%

34%

70%

59%

% o

f Par

ticip

ants

with

the

Cor

rect

Ans

wer

Pre-Test Post-Test

You do not need a lot of money in order to save.

Paying cash when buying goods, is the cheaper option.

Correct interest calculation.

Correct savings product chosen for a given savings goal.

Participant feedback:• All topics discussed

during workshops were relevant to their lives.

• Needs and wants was one of the most useful topics.

**Including the compound interest calculation, strengthens the participants’ knowledge of the concept of compound interest.

2018 IFIE IOSCO



The Micro-Enterprise Bootcamp and the transition into Incubation have had a number of highlights and key success outputs throughout 2017 and 2018

2018 IFIE- IOSCO CONFERENCE

FLAME MICRO-ENTERPRISE BOOTCAMPS

30

30

39

Rustenburg

Hammanskraal

Soshanguve

30%

40%

30%

EstablishedEnterprises

Early stageEnterprises

Start-up Enterprises

80% Female representation

in the selected 30 Enterprises

Graduating participants

180200220240260280

Recruited Targetgraduation

Actualgraduation

7 new Start Ups operationalised during bootcamp

Selected Enterprises

Pitching Enterprises

New Enterprises

93% completion rate

99 Enterprises were pre-selected for final pitching

Soshanguwe

HammanskraalRustenberg


Bootcamp Component

Many positive results showing knowledge transfer – however still areas for improvement especially with cost and management accounting

Participants valued the content; methodology and expert facilitators and affirmed that the business bootcamps took financial education and knowledge to the next level.

Adjustment needed in the workshop logistics such as venues, facilities, and timing – especially N.B. for M&E tasks

“Soft skills – hope and confidence building” should be continued and integrated throughout the programme

2018 IFIE- IOSCO CONFERENCE




INCUBATION PHASE – OVERVIEW & OUTCOMES

The 9 month FLAME Incubation phase is currently underway - @6 months -97% retention rateNetworking sessions facilitate content reinforcement by subject matter experts and group interaction

0

10

20

30

40

50

60

70

July 2017 Jan 2018

29

55

9

7

30

R300 000

Numbers of workers

Grant Funds

R800 000+

50%

75%

132%

65%

99%

102%

68%

0% 35% 70% 105% 140%

Jul-17

Aug-17

Sep-17

Oct-17

Nov-17

Dec-17

Jan-18

Portfolio profit margins

Businesses

No of people directly affected190+Youth

Participation

40%

Female participation

80%

84% Average

increase in profitsPermanent

Temporary

Additional Funds


NETWORKING SESSIONS & SITE VISITS 2018 IFIE-IOSCO CONFERENCE


EXHIBITS & SITE VISITS2018 IFIE-IOSCO CONFERENCE


2018 IFIE –IOSCO CONFERENCE

PROGRAMME PARTICIPANTS

1 2 3

Name: Zanele NtuliBusiness: EMO Agric Primary CooperativeIndustry: AgricultureLocation: SoshanguveBusiness Life-Stage: Early Stage Business

Name: Caroline MathibeBusiness: Kgetse Ya-Tsie Primary Co-OperativeIndustry: TextileLocation: SoshanguveBusiness Life-Stage: Established Business

Name: Johanna RakauBusiness: Tantabela Trading & ProjectsIndustry: TextileLocation: HammanskraalBusiness Life-Stage: Established Business


2018 IFIE-IOSCO CONFERENCE

PARTICIPANTS REVENUE CHANGE


1 2 3

9911 9400 1000014000

26907

15000

27600

79050

18500

0

10000

20000

30000

40000

50000

60000

70000

80000

90000

Zanele Ntuli Caroline Mathibe Johanna Rakau

(Rands) Revenue Change June 2017 – December 2017

Jul-17 Sep-17 Dec-17

178% 740% 85%


PARTICIPANTS EMPLOYMENT CHANGE

4 4 4

5

4 4

6

4 4

0

1

2

3

4

5

6

7

Zanele Ntuli Caroline Mathibe Johanna Rakau

Employment Change June 2017 – December 2017

Jul-172 Sep-17 Dec-17

1 2 3

Stable Stable



BUILDING INDIVIDUAL RESILIENCE -LESSONS LEARNT

• Building resilience in a dynamic, challenging environment takes time, flexibility, patience and determination

• There is no shortage of creativity and courage to start up and run businesses, but does not necessarily result in wealth creation or wealth preservation

• Financial Education is a key driver to facilitating financial inclusion, economic participation and overall financial well being.

• Incorporating positive psychological training to build hope , self-confidence and self-belief is critical to achieving positive attitudinal and sustained behaviour change

• Successful knowledge transfer of basic and sophisticated financial education and micro business development concepts is dependent on • skilled facilitators who can relate to the participants and their environment • relevant content made simple for low levels of literacy and numeracy• continual re-inforcement of content and messaging through multiple engagements



BUILDING INDIVIDUAL RESILIENCE –LESSONS LEARNT

.

• Face to face coaching and mentoring builds trust and confidence and facilitates change and encourages resilience

• Providing basic tools, guidance and accountability supports behaviour change

• Access to markets is a common threat especially due to geographical constraints and requires special focus

• Personal and environmental circumstances present significant challenges impacting the timing and achievement of strategic plans – incubation supports resilience

• Costing and management accounting is a significant challenge especially with low numeracy skills



BUILDING INDIVIDUAL RESILIENCE –LESSONS LEARNT

.

• Define key performance indicators (KPIs) and impact measures upfront • start up and growth of a business• increased revenue; decreased costs; increased efficiencies • jobs created and jobs sustained • increased earnings of entrepreneurs and employees • enhanced skills capacity

• Programme success has impact which extends beyond individual participants - it boosts individual confidence and dignity, provides hope to the community, alleviates poverty

• Increased awareness of need for financial risk management strategies

• Serious risks in growing too quickly

• Leverage networking, collaboration and peer education



CASE STUDIES : BUILDING RESILIENCE


CASE STUDY 2: BUILDING RESILIENCE IN ORGANISATIONS

Workshops Member Education Today’s Trustee







RFTE OBJECTIVES –RESILIENCE of RETIREMENT FUNDS

Overriding aim –the provision of an acceptable standard of living for workers post-retirement, by:

• Improving the financial literacy of retirement fundtrustees (esp member-elected) and principal officers;

• Improving and optimising good governance of retirement funds;

• Ensuring fund members receive optimal investment returns within acceptable risk parameters.

TRUSTEE EDUCATION

• Investment Fundamentals (IF)• Trustee Governance & Ethics (TG/E)• Employee Benefits (EB)• Responsible Investing (RI)• Investment Fundamentals in

Active Ownership (M/Class)

• Death Benefits (DB)• Annual Financial Statements review (AFS)• Investment Policy Statement assessment (IPS)• Investment Management fees and costs (IM)

One dayworkshop

Half day workshop

Our training offering comprises:2018 IFIE-IOSCO Conference

RFTE WORKSHOPS

3 month period ending (unless otherwise indicated)

Number ofWorkshops

Total Cumulative workshops

Number ofActual

Delegates

1 May 2014 to 31 December 2015 22 22 269

30-Mar-2016 3 25 36

30-Jun-2016 8 33 98

30-Sep-2016 9 42 122

31-Dec-2016 5 47 44

31-Mar-2017 14 61 195

30-Jun-2017 12 73 122

30-Sep-2017 15 88 168

31-Dec-2017 11 99 170

28-Feb-2018 1 100 14

1,238

44%

26%

6%2%

1%8%

5%8%

IF TG/E RI M/class EB AFS IPS DB


RFTE WORKSHOPS


RFTE MONITORING & EVALUATION RESULTS


RFTE M&E - RESULTS AND IMPACT

Follow up surveys with delegates – 3 to 9 months post-workshop

• Trustees report increased confidence to engage with service providers regarding investment strategy / investment portfolio / annual financial statements

• Trustees request additional workshops to further enhance their governance role

• Trustees understand their power and authority to exercise proxy votes at investee AGM’s and to engage with investee management regarding responsible investment and sustainability issues

Delegate quotes…• “Always brilliant”• “Found case studies and

discussions very rewarding”• “Facilitator was good and is a

subject matter expert”• “Excellent programme!”


RFTE MONITORING &EVALUATION RESULTS




RF MEMBER EDUCATION WORKSHOPS

For Workers/Members of Retirement FundsProgramme content

• Planning with money

• Budgeting, Saving and Investing

• Interest concept and calculations

• Understanding payslips and bank statements

• Understanding pension fund beneficiary statements

• Understanding financial risks, rights and recourse

• Profile, role and responsibilities of a Retirement Fund Trustee

• Customised educational needs specific to retirement fund rules






TODAY’S TRUSTEE MAGAZINE & ON-LINE TOOL


Today’s Trustee Magazine

• Well established pension fund trustee magazine in South Africa

• Published quarterly primarily for retirement fund trustees

• Distributed free of charge to >12 000 subscribers, being trustees, principal

officers & other stakeholders

• Refreshed Today’s Trustee magazine and Today’s Trustee website

provides single portal of retirement fund related info

• Consumer Education Supplements based on focused research on

relevant topics

• Online Education Platform offering e-learning and e-CPD

• Facilitates Monitoring & Evaluation


TODAY’S TRUSTEE MAGAZINE & ON-LINE TOOL


BUILDING ORGANISATIONAL RESILIENCE: LESSONS LEARNT

Collaboration and advocacy through strategic relationships is are important to access and influence target markets

• Regulators and industry bodies• Support professionalisation of trustees• Retain objectivity of education by using independent, skilled facilitators, • Use skilled facilitators who are subject matter experts

Be flexible and adapt educational offerings to meet holistic education and training needs of the organisation

• Expand suite of workshop topics• Facilitate easier access to training eg online platforms• Provide financial education and training to members and trustees of same

organisation


BUILDING ORGANISATIONAL RESILIENCE: LESSONS LEARNT

To change attitudes and behaviour, we need multiple interventions per participant to:

• Re-inforce workshop content with post workshop interventions - using available channels such as intranet; newsletters; magazines; benefit statements

• Provide additional courses which focus in greater depth on specific topics

Ensure success of intervention is clearly defined and can be measured• Knowledge transfer /change in confidence levels/change in attitude• Change in behaviour/• Improved approach to retirement and savings strategies • Increased CPD points allocated

THANK YOU

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