Debt in the Workplace
financial wellness solutions for tomorrow | today
‘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 MONEY
SERIOUSLY?
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‘up for discussion’
This is what we will cover this
evening
O the South African context
O considerations and challenges
O should employers care?
O two choices
O can we help you further?
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‘the South African context’
R1.3 Trillion
R268 Billion
75% Debt to Income
70 million credit transactions
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‘the South African context’
As at March 2012…
19 340 000 credit active
consumers
7 465 240 in “good standing”
2 746 280 issued “judgements”
2 378 820 “adverse” listing
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‘the South African context’
As at March 2012…
3 848 660 3+ months in arrears
2 901 000 1 – 2 months in arrears
119 000 impaired records
increased
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‘the South African context’
As at March 2012…
310 000 000 enquiries made on
consumer records
120 094 credit reports issued
10 357 disputes lodged
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‘the South African context’
The total cost of garnishee
orders paid by public servants?
R1.01 Billion
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‘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 deceased
O 12 will be bankrupt
O Five will still be working
O Four will be able to retire comfortably
O One will be wealthy
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‘the South African context’
Do we have a debt problem in
South Africa?
YES!
Can Employers help?
YES!
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‘considerations and
challenges’
O Do your employees…
O understand their relationship with
MONEY?
O use a personal BUDGET planner?
O battle under DEBT?
O have a plan to REDUCE debt?
O ask for a LOAN or an ADVANCE?
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‘considerations and
challenges’
O Do your employees…
O commit towards SAVING?
O plan in case of RETRENCHMENT?
O understand INVESTMENTS?
O know how to PLAN financially?
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‘should employers care?’
O A financially distressed employee means…
O theft | corruption | fraud
O absenteeism | “absent at work” | poor
motivation
O problematic to manage | accidents
O disruptive in the workplace
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‘should employers care?’
O A financially distressed employee means…
O less take home pay – Garnishee Orders
O problematic wage and salary negotiations
O strike action [violent] | stay-aways
O increased union activity
O all this will impact on the workplace…
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‘two choices…’
O implement a workplace based financial
wellness program covering…
O personal attitude | relationship with
Money
O personal budgeting | cash flow
management
O setting of short | medium | longer term life
financial wellness
for tomorrow |goals
today
andsolutions
financial
‘two choices…’
O understand the fundamentals of debt
O debt recovery and rehabilitation plan
O limit dependency on credit
O understand savings | investments
O raising financially responsible families
O financial discipline as a lifestyle choice
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‘two choices…’
O further financial planning considerations
O implementation considerations | year
round
O adopt the financial wellness program as
part of the HR training calendar | EAP
program
O beware the “freebies” there is no free
financial wellness
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lunch
O conflict of interest
‘can we help you further?’
O go to www.motivatetoday.co.za for details
O Workplace based financial wellness
programs
O One on One personal financial coaching
O brochures and fact sheets to download
O client feedback | financial wellness blog
O handy self help tools | resources | links
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Thank you for your
participation
financial wellness solutions for tomorrow | today