Eswatini conference of the seventh Day

Adventists

Technical proposal for Behavioral &

Emotional Aspects of Financial Planning
(Training & Financial Counseling)

Prepared by:

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Table of Contents

1. Introduction........................................................... 3
2. Summary of Case Studies ........................................... 4
3. Our Approach to the Training ...................................... 5
3.1 Pre-Training Activities .................................................... 5
3.2 Training Activities ......................................................... 6
4. Team Composition ................................................. 10
4. Project Management .............................................. 11
5. Typical Project Risks Anticipated ............................... 13

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1. Introduction
Over the last decade leading employers have included Financial Wellness Programs as
typical addition to standard employee benefits. This usually leads to fulfilling and
satisfying personal finance scenarios at home and work as the employee develops a
healthy relationship with his or her money. Money is the number one stressor for
anyone with an income. Financially stressed-out workers are not good for business.
Employees who bring money worries to work tend to be less productive, less engaged
and may even raise employers' health care costs. Financial concerns become a
distraction for employees and increase their stress levels at work, which often leads
to absenteeism and general decline in employee productivity.
It is sad to say that in our country and perhaps world over our society is permeated
with symptoms of fear and anxiety about money. While the symptoms may differ for
each person, almost everyone suffers from some form of money-related stress. Our
unconscious unhealthy and toxic relationship with money is the root cause of this
problem. Many people create extensive financial plans, but continue to make the
same mistakes or fail to implement their plan. Research suggests that this is mostly
due to unresolved feelings and experiences about money issues. These unresolved
feelings and experiences create patterns of behavior that are often self-limiting and
self-defeating.
It is with good reason we offer this Behavioral and Emotional Aspects of Personal
Financial Management Program. It seeks to help participants discover how one’s
“money attachment style” governs his/her relationship with money, and how it
affects one’s money behavior. The program is both about truth and self-discovery. It
will help participants explore their true feelings about money by providing a
framework for uncovering their unconscious motivations and behaviors related to
money. It will also suggest steps one can take towards improving his/her relationship
with money.

We at Interlink Professionals believe that, much like a health wellness plan, financial
wellness can create financial peace for your employees. This program aims at
changing employees’ financial habits and behavior and help them make informed
financial decisions. We cover a lot of aspects of behavioral finance i.e. Emotions vs
Logic, Credit Management etc. We also cover Estate/ Legacy. From an employer's
perspective this can lead to higher employee satisfaction and higher productivity due
to less financial stress.

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2. Summary of Case Studies
Our consultancy must be considered because:
- We have vast experience in the subject matter and in delivering effective
trainings on it;
- We have wide industry experience including working in a financial
environment. This will prove essential in harnessing understanding;
- Our Facilitators are highly energetic, techno-alert, witty and talented in
delivering training;
- We are local consultants with a clear understanding of personal finance
challenges in the local context and we can communicate clearly in the local
language.
Below is a summary of a few case studies of training and support provided:
Company Support Provided Impact
1. Nedbank Eswatini Training and Individuals were:
(SMME Clients) Counselling
- Actively involved in
handling personal finances;
- Restructuring of policies
from education to legacy
policies;
- Review on wealth creation/
investments and insurance;
- Estate planning in place;
- Effective debt management

Though unmeasured but

organizational testimonies
indicated:
Improved productivity
amongst employees
2. IDM Training Training Plans and tools on
- Personal financing
- Manzini Municipal - Debt management
Council - Estate plans
- Eswatini Water - Selecting suitable insurance
Services Corporation and investment policies
- Government of Training evaluation results showed
Eswatini improved awareness of
- Hlathikulu Town - Personal finance status;
Board - Debt;

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 - Lavumisa Town board - Investment/insurance
options
- Significance of estate
planning and
- Relevant challenges

3. Youth Enterprise Training and Individuals were:

Revolving Fund Counselling - Actively involved in
4. Icap Eswatini handling personal finances;
5. Junior Achievement - Restructuring of policies
6. Central Bank of from education to legacy
Eswatini policies;
- Review on wealth creation/
investments and insurance;
- Estate planning in place;
- Effective debt management
- Though unmeasured but
organizational testimonies
indicated improved
productivity amongst
employees

3. Our Approach to the Training

We use an effective strategy of creative financial coaching to help you create the
capacity to live your ideal financial life. We start by helping you define your vision
using a range of wealth management techniques. That vision is then translated into
quantitative financial goals, then create realistic strategies that consider your assets,
target your goals and help you reach your financial potential. Our financial advisors
aim to paint the “Bigger Picture” view of your finances and give you guidance and
investment strategies that fit your needs.

3.1 Pre-Training Activities

3.1.1 Review of Organizational and Human Resource Department Goals

The strategy and policies of the organization and the strategy and goals of the HR
department will be reviewed for alignment purposes. The wishes of management and
HR on the subject matter.

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3.1.2 Target Audience Assessment
A profile of the target audience will be requested i.e., their names, contacts,
location, department and employment status. These will be used in the planning for
delivery of training. HR Department will provide such information accurately.
3.1.3 Financial Self-Assessment
A self-assessment quiz will be forwarded to all employees of the organization a week
before the training. The quiz will assist employees to be aware what they do well and
areas of improvement in terms of financial management. The quiz will be designed to
be simple and suitable for all employee groups. The quiz will be done online and will
inform the training objectives. The identity of the participants will be made
anonymous.
3.1.4 Preparation and Sharing of Presentation and Training Aids
Results of the financial self-assessment will be synthesized and will input in the
preparation of the training presentation. The Presentation will be done on Microsoft
Power Point. The presentation will have guiding bullet points, pictorials, and graphs
to demonstrate or emphasize points. Short videos on personal financing will be
prepared to be played intermittently. The presentation will be neatly packaged and
submitted to the organization. The training presentation will have an outline, training
objectives, training topics with practical examples and exercises relevant to the
workforce, practical tools to manage finances including a budgeting tool and other
relevant tools, practical assignments to work on and an evaluation criteria.

3.1.5 Scheduling
There will be 3 sessions where participants will be introduced to the principles of
Financial Planning, Budgeting and Credit among others. Our consultants will then
conduct personal financial coaching with each participant for a maximum of two
sessions each. It is recommended that the employees be clustered according to their
age groups or financial life cycle for effective learning (HR will advise on this). The
session will be organized as follows:
- Session 1 (0830 – 1030)
- Session 2 (1100 – 1300)
- Session 4 Individual financial coaching
A schedule will be developed with employee names against relevant sessions. The
schedule will be approved by HR and circulated to all Staff a week before training.
Staff members will be required to confirm attendance and set reminders for training.

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3.1.6 Introduction and Testing
The sessions will begin with a registration and introduction. The training candidates
will report attendance and they will be checked against the schedule. If there are
candidates unavailable, the HR department will be notified for follow up.
3.1.7 Tips and Ground Rules
The training candidates will be notified on the following tips and ground rules before
training:

 Be on time for each session

o As a best practice…be just a few minutes early!
 Communicate professionally with others
o Wait for others to finish speaking before you speak;
o Build on others’ ideas and thoughts;
o Disagreeing is OK – but be respective and courteous.
 Participate actively in each session
o Share experiences and best practices
o Bring up challenges
o Discuss successes
o Share articles and other readings relevant to the classroom topic

3.1.8 Training Objectives and Expectations

Training objectives will align to the organizational and HR department goals and
policies, management and HR wishes and consider the results of the self-assessments
and the standard personal finance management aspects. The objectives will be
measurable for clarity. The expectations from all candidates. An outline of the
training will then be presented for appreciation by the candidates.

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3.1.9 Training Delivery and Recording
The following will be considered during training:

- During the training session, it is important that you repeat the information you are
trying to teach the participants so that they are able to properly grasp the matter.
Introducing a character to which the audience can relate to can enhance the
entire experience of the employees.
- Use all possible visual and audio aids to divulge the information in the most
practical and easy to understand format.
- Make the training session interactive. Active participation ensures that the
trainees are awake and involved in the training. Prompt your students to ask
questions, and work on their weak points. Add simulations and games to build an
engaging session.
- Encourage the participants to share their experiences and knowledge on the
subject at hand. This will not only increase the interest level of the participants in
the program but also embed practical, real-life experiences on the topic in your
training session, making it more useful for the participants. A good training session
is believed to increase the employee engagement in his work by 18%.
- Review the quality of your session regularly. Some teaching techniques may work
while others may not. Therefore, it’s important to constantly evaluate the
teaching strategies to find out what is working.
- Mind the duration of your training sessions. Remember you are providing this
training to professionals and they may have to get back to work once the training
session ends, hence start and end the session on time.
- Use examples with data relevant to the participants’ industry to assist them in
cultivating a deep association with the problems.
- Always ask for feedback after the first day. Do not wait until the end of the
training to learn participants’ experience. This helps in improving the quality of
training for the remaining days.

The following training outline will be delivered:

- Personal Financial Planning;

- Separating your self-worth from net worth;
- Emotions VS (financial) Logic;
- Understanding Your Money attachment style;
- Credit Management (controlling good debts and getting out of bad debts);
- Effective Investment/Wealth creation;
- Insurance/Wealth Protection;
- Estate planning/Wills & Trusts.

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For each topic the following will be presented:

- A brief background on its significance;

- Examples and experiences;
- Its application;
- Its impact;
- Applicable and practical tools;
- Practical Assignments

3.1.10 In-Training Monitoring and Evaluation

During the presentation, the candidates will be requested to privately record
questions and queries and after each topic, the candidates will be allowed to pose
questions and concerns. The Facilitator will pose questions as well to check if lessons
were well understood. The comments, concerns, level of interaction, examples and
experiences shared will provide an indication of how well the training is progressing.
A Co-facilitator will be on stand-by to record comments, concerns and questions from
the participants. The candidates will be allowed to interact with the facilitators
through an online instant messaging platform which will be analyzed after the
training.

3.2 Post Training Activities

3.2.1 Post-Training Evaluation and Report Production

After each training session, the candidates will be requested to complete training
evaluation forms. At the end of the training, all the training evaluation results,
comments, concerns, experiences will form part of the training report to be
produced. The report will also contain pre- and post-training results,
recommendations to management and a conclusion.
The Consultancy will resume individual/personal Financial Counselling after the
training sessions are completed.

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4. Team Composition
The following team will be responsible for the delivery of the training:
1.Thabiso Nsibande (MSc Strategic Quality Management, Project Management)

Thabiso is a change management specialist with broad experience in his field. He has worked on various
projects with Treasury Department of the Ministry of Finance /World Bank, Central bank of Eswatini
Ministry of Health/ World Bank United Nations Industrial Development Organization, World
Bank/Department of Treasury (IMFIS) Project, Ministry of Finance.
He has also worked on Change management projects with Municipal Council of Mbabane and Manzini,
ESWADE and Many others. His skills are key as our program seeks to transform participants' behaviours and
habits when it comes to financial matters.

Position: Project Manager/ Facilitator

Responsibilities: - Client contact

- Project Management
- Co- facilitation
- Monitoring

2.Welile Dludlu (BA Communication, Cert. Financial Planning, Cert. Behavioral Finance)

Welile is our resident Financial Planner, he has worked as a financial planner for over 16 years. His
experience includes working as a financial planner and registered consultant for firms like Fingroup
Swaziland, OldMutual eSwatini and SA,(Sandton Branch) Metropolitan Life, Sefika Insurance Brokers
responsible for financial coaching and retirement planning amongst other duties. He has also been engaged
by IDM eSwatini, Global Access Training and Consulting (Zambia, SA) and CHURD International as a Training
Consultant.

Position: Facilitator

Responsibilities: - Facilitate self-assessments

- Preparation of training
- Lead the training
- Evaluation and Report Production
- Financial Coaching
7. Mfundo Xaba (Bachelor of Law LLB).

Mfundo is an admitted attorney in the high court of Eswatini. He deals with legal issues such as tax
effective ways to estate planning. He also helps clients understand the importance of wills and trusts.
Having worked for Financial and Insurance companies i.e. IDCE former SIDC and Lidwala Insurance, he
brings a deep insight on the legal aspects of financial planning.

Position: Facilitator
Responsibilities: - Co-facilitation
- Preparation of training
- Evaluation

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1. Project Management
The entire assignment will be under effective project management guided by a plan
and schedule that will additionally consider the following facets:
- Project Management
- Stakeholder (Client Management);
- Quality control and assurance and
- Risk Management.
Main Task Method Tools Outcome
1. Client contact Consultations with - Meeting - Confirmed
- Confirmation of deliverables and Project Manager notes deliverable
timelines; - Engagement s and
- Identification and engagement schedules timelines;
planning with key staff and - Reports - Key Staff
management to work with; and
- Regular communication and appraisal Managemen
of key staff and management; t driving
the
process;
- Stakeholder
engagemen
t schedules
2. Quality Control and Assurance Consultations with - Incorporation - Approved
- Testing of platforms and channels Project Manager/ of key quality
- Confirming controls for the assignment Stakeholders and stakeholder checks and
and product training sessions needs and controls;
- Incorporation of stakeholder views in with enumerators/ expectations - Key staff
the assignment Survey in planning and
- Communication of objectives, roles - Agreed work manageme
and responsibilities for all involved schedule nt informed
(inception and ready
report) to
participate
- Quality
report

3. Risk Management Consultations with - Risk - Identified,

- Identification and evaluation of Project Manager identificatio evaluated
assignment risks that could affect n, and
success description, mitigated
- Development and incorporation of evaluation risks
mitigation measures into assignment and
implementation plan. mitigation
tool
4. Monitoring and Evaluation of the Monitoring and - Monitoring - Monitoring
assignment evaluation using schedule schedule
- Progress tracking Inception Report monitoring - Progress
- Progress evaluation (schedules) tools reports

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- Progress reporting - Progress - Corrective
reporting action
against plans
inception
report (and - Final
final report) Report

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5. Typical Project Risks Anticipated
Date Risk or Issue Risk Risk Proposed Severity Responsible Progress
Description Probabil Severity Mitigation after Party Status of
ity (Green for
Low, Yellow
mitigation mitigation (%)
(Not likely, (Green for Low,
for Med, Red
Likely, Yellow for Med,
for High)
Almost Red for High)
Certain)
Project Specific Risks
12/23 Project Schedule; delays Most likely Monitoring and tracking of HR/Interlink 0%
due to extended or delayed project plans; claw back
implementation of project strategies
activities
12/23 Performance Risk; Failure Likely Criteria for measurement of HR/Interlink 0%
to produce results outputs
consistent with plans and
specifications
12/23 Stakeholder Management; Likely Effective stakeholder HR/Interlink 0%
Failure to engage key management and
stakeholders leading to communication plan
poor buy-in and project integrated into project
success plans and processes
12/23 Risk Management; Failure Likely Risk Management Plans HR/Interlink 0%
to effectively identify, integrated into project
evaluate and treat risks at processes and plans
all levels
12/23 Change Management; Most Likely Change management plans HR/Interlink 0%
Failure to effectively integrated into project
manage change leading to management processes and
resistance (Virtual plans
learning)
12/23 Project Cost; Escalation of Likely Regulate scope creep HR/Interlink 0%
costs due to scope creep, through available decision
fraud or poor estimates structures, agreements and
activity-based costing
12/23 Legal Risk; Failure to Likely Legal, policy review, HR/Interlink 0%
adhere to policies, compliance and alignment
legislation and standards
12/23 External hazards; Poor Most Likely Use a stable connection and HR/Interlink 0%
connectivity, civil unrest, effective platforms,
industrial action/strikes anticipate accepting
hazards by adjusting plans,
resources

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