debt in the workplace financial wellness solutions for tomorrow | today

20
Debt in the Workplace financial wellness solutions for tomorrow | today

Upload: kelley-johns

Post on 18-Dec-2015

216 views

Category:

Documents


0 download

TRANSCRIPT

financial wellness solutions for tomorrow | today

Debt in the Workplace

‘me and money’

Before we get started…

OHOW DOES MONEY MAKE

YOU FEEL?financial wellness solutions for tomorrow | today

‘me and money’

Before we get started…

ODO WE TAKE OUR MONEYSERIOUSLY?

financial wellness solutions for tomorrow | today

‘up for discussion’

This is what we will cover this eveningOthe South African context

Oconsiderations and challenges

Oshould employers care?

Otwo choicesOcan we help you further?

financial wellness solutions for tomorrow | today

financial wellness solutions for tomorrow | today

‘the South African context’R1.3 Trillion

R268 Billion75% Debt to

Income70 million credit

transactions

financial wellness solutions for tomorrow | today

‘the South African context’As at March 2012…

19 340 000 credit active consumers7 465 240 in “good standing”2 746 280 issued “judgements”2 378 820 “adverse” listing

financial wellness solutions for tomorrow | today

‘the South African context’As at March 2012…

3 848 660 3+ months in arrears2 901 000 1 – 2 months in arrears119 000 impaired records increased

financial wellness solutions for tomorrow | today

‘the South African context’As at March 2012…

310 000 000 enquiries made on consumer records120 094 credit reports issued10 357 disputes lodged

‘the South African context’

The total cost of garnishee orders

paid by public servants?

R1.01 Billionfinancial wellness solutions for tomorrow | today

‘the South African context’Consider this...out of every

100 South Africans who work, at age 65…

O 49 will be dependent on the state or family

O 29 will be deceasedO 12 will be bankruptO Five will still be workingO Four will be able to retire

comfortablyO One will be wealthy

financial wellness solutions for tomorrow | today

‘the South African context’Do we have a debt problem in

South Africa?YES!

Can Employers help?YES!

financial wellness solutions for tomorrow | today

financial wellness solutions for tomorrow | today

‘considerations and challenges’

ODo your employees…Ounderstand their relationship with MONEY?

Ouse a personal BUDGET planner?

Obattle under DEBT? Ohave a plan to REDUCE debt?

Oask for a LOAN or an ADVANCE?

financial wellness solutions for tomorrow | today

‘considerations and challenges’

ODo your employees…Ocommit towards SAVING?

Oplan in case of RETRENCHMENT?

Ounderstand INVESTMENTS?

Oknow how to PLAN financially?

financial wellness solutions for tomorrow | today

‘should employers

care?’OA financially distressed employee means…

Otheft | corruption | fraudOabsenteeism | “absent at work” | poor motivation

Oproblematic to manage | accidents

Odisruptive in the workplace

financial wellness solutions for tomorrow | today

‘should employers

care?’OA financially distressed employee means…

Oless take home pay – Garnishee Orders

Oproblematic wage and salary negotiations

Ostrike action [violent] | stay-aways

Oincreased union activityOall this will impact on the workplace…

financial wellness solutions for tomorrow | today

‘two choices…’Oimplement a workplace based financial wellness program covering…

Opersonal attitude | relationship with Money

Opersonal budgeting | cash flow management

Osetting of short | medium | longer term life and financial goals

financial wellness solutions for tomorrow | today

‘two choices…’Ounderstand the fundamentals of debt

Odebt recovery and rehabilitation plan

Olimit dependency on credit

Ounderstand savings | investments

Oraising financially responsible families

Ofinancial discipline as a lifestyle choice

financial wellness solutions for tomorrow | today

‘two choices…’Ofurther financial planning considerations

Oimplementation considerations | year round

Oadopt the financial wellness program as part of the HR training calendar | EAP program

Obeware the “freebies” there is no free lunch

Oconflict of interest

financial wellness solutions for tomorrow | today

‘can we help you further?’

Ogo to www.motivatetoday.co.za for detailsOWorkplace based

financial wellness programs

OOne on One personal financial coaching

Obrochures and fact sheets to download

Oclient feedback | financial wellness blog

Ohandy self help tools | resources | links

financial wellness solutions for tomorrow | today

Thank you for your

participation