In a move that could have far-reaching benefits for both its employees and the broader community, Vodacom Lesotho recently hosted a financial awareness seminar for its staff. The seminar, which aimed to promote financial literacy and inclusion, not only highlighted the company’s commitment to employee development and financial well-being, but also has potential to serve as a model for other businesses.
In an interview with theReporter’s ‘Mantšali Phakoana, Vodacom Lesotho executive head of human resource, Moliehi Makhetha provided valuable insight into the company’s approach to employee financial wellness, the significance of the financial awareness seminar and the broader benefits it can bring to the company and the community.
Kindly tell us about the financial awareness seminar that was hosted by Vodacom recently.
The seminar, which was one of many we have had, was designed with the clear objective of enhancing the financial literacy of our employees and providing them with the necessary tools to confidently navigate and manage their personal finances. Recognizing the dynamic nature of today’s economic environment, we understood the critical importance of empowering our workforce with the knowledge and skills to make informed financial choices that significantly influence their personal lives and ultimately their professional performance. We also wanted to foster a deeper understanding among our employees regarding the intricacies of financial decision-making, enabling them to cultivate smart financial habits and strategies that would not only benefit them personally but also contribute to their overall well-being and productivity within the organization.
How does Vodacom see the value of providing this seminar to its employees and what impact does the company expect the seminar to have on employee productivity and engagement?
We firmly believe that by equipping our workforce with the knowledge and tools to achieve financial security and confidence, it will significantly contribute to enhancing overall productivity levels and fostering a higher level of engagement within the company. When employees are financially literate and empowered, they are more likely to approach their tasks with increased focus, dedication and a sense of calm, thereby reducing stress levels and enhancing their professional effectiveness. Additionally, a financially aware employee is not only more adept at managing their personal finances but also tends to exhibit enhanced problem-solving skills and decision-making abilities within their respective roles. By emphasizing financial well-being among our employees, Vodacom aims to create a work environment that nurtures individual growth, boosts team collaboration, and ultimately drives sustainable success for both employees and the entire organisation.
How did Vodacom tailor the seminar to meet the specific needs and challenges faced by its employees and what topics were included to promote financial well-being among its workforce?
In order to ensure that the seminar not only met but exceeded expectations in terms of relevance and impact, we meticulously tailored all content to directly address the specific needs, concerns and challenges that our valued employees encounter on a daily basis. These included budgeting strategies, effective savings techniques, various investment opportunities and comprehending credit scores and reports. By delving into these crucial areas of personal finance, the overarching goal was to cultivate a workplace environment that prioritises and promotes the holistic well-being of our employees by instilling a strong foundation of financial literacy and healthy financial habits. Ultimately, the aim was to not only equip our workforce with practical knowledge and tools to navigate their financial lives more confidently but also to nurture a shared culture that champions financial awareness, responsibility and empowerment among all members of our organization.
How does Vodacom plan to integrate the lessons learned from the seminar into its broader employee engagement and development programs and what support mechanisms will be put in place to ensure that employees are able to apply the knowledge and skills gained?
As we move forward, we are committed to fully incorporating the insightful takeaways gathered from the seminar within the framework of our extensive employee engagement and development initiatives. To maximize the impact of this newly acquired knowledge, we are taking proactive steps to streamline our support infrastructure by introducing additional resources. In addition to organising follow-up workshops, we are also exploring avenues to provide our employees with access to specialised financial advisors, who can offer personalised guidance tailored to their individual needs and circumstances. By nurturing these supportive measures, we aim to empower our employees to effectively apply the knowledge gleaned from the seminar, fostering a culture of continuous learning and professional growth within the organisation.
Given the potential benefits of the seminar for the broader community, has Vodacom considered extending the initiative to customers or other stakeholders, and if so, what plans are in place to implement such?
We acknowledge the myriad advantages that could stem from this innovative initiative, acknowledging that its impact is not limited solely for the well-being of our workforce. As part of our commitment to our valued customers and the broader community, we are actively exploring avenues through which we can replicate the success of these beneficial seminars for their benefit too. We aspire to empower and educate a wider audience, enhancing financial literacy and fortifying the financial health of Basotho. This inclusive approach not only underscores our dedication to corporate social responsibility but also reflects our firm commitment to creating a sustainable and thriving ecosystem that extends well beyond our immediate employee base.
By providing financial seminar to employees, Vodacom hope to create a culture of financial responsibility and financial planning within the company and if so, how will this culture be nurtured and sustained? We are dedicated to instilling a robust culture of financial responsibility and planning among all employees. Our aim is to nurture this culture by fostering open and engaging dialogues about financial well-being, recognising and celebrating key financial achievements. This will offer a wide array of continuous learning opportunities to empower our employees with the necessary knowledge and skills to make informed financial decisions. Through this seminar, we attempt to create a supportive environment that encourages individual employees to take ownership of their financial futures, cultivate good financial habits and enhance their overall financial literacy. Additionally, our aim is to inspire a positive shift in attitudes towards finances, promoting a sense of financial empowerment and confidence that will not only benefit our employees personally but also contribute to the overall success and sustainability of our organisation in the long run.
Did the seminar include components on digital financial services such as mobile money and e-commerce, and if so, how does Vodacom see these services as fitting into its broader strategy for supporting financial inclusion in Lesotho?
As a technology communications company specialising in enabling digital solutions, we recognise the profound significance of digital financial services. Within the recent seminar, detailed discussions and insights were shared regarding the integration and utilisation of mobile money platforms and e-commerce strategies. These segments were particularly highlighted due to their crucial role in shaping the financial ecosystem of our target market in Lesotho. It is firmly ingrained in our corporate ethos that these innovative financial tools serve as indispensable enablers in our overarching mission to foster broad-based financial inclusion in the country. Equipping our employees with the requisite knowledge and proficiency in leveraging such digital financial services will undoubtedly empower them to not only adapt to the changing financial landscape proficiently but also to enhance their own professional growth and productivity.
In addition to promoting financial awareness and literacy, how does Vodacom plan to support its employees in achieving their financial goals, such as saving for retirement, investing or starting a business?
In addition to actively cultivating financial literacy among our employees, we pledge to provide them with comprehensive support in realising their diverse financial objectives, be it setting aside funds for retirement, engaging in investment opportunities or even embarking on entrepreneurial ventures. To concretely manifest this commitment, we have initiated the development of a range of specialised programmes and accessible resources explicitly engineered to empower and guide our team through their respective financial journeys. Through these purpose-driven actions, we strive to create an ecosystem where financial growth is attainable, aspirations can be realized, and a sustainable financial foundation can be established for all individuals within our workforce, promoting a collective sense of prosperity and success.
Given that many employees may face personal financial challenges outside of work, such as debt or financial stress, did the financial seminar include resources or support for employees to address these challenges?
We are keenly aware of the impact personal financial struggles, like debt and financial stress, can have on the lives of our employees. Understanding the gravity of these challenges, the seminar focused on providing comprehensive resources and a range of support options to offer practical help. We wanted to equip employees with the tools they needed to effectively manage these difficulties, fostering an environment where they feel both personally and professionally supported. At the core of our approach is the recognition that supporting our employees during times of financial hardship not only benefits them as individuals but also contributes to a more resilient and harmonious work environment. The seminar conveyed our commitment to addressing these challenges proactively, underscoring our dedication to the holistic well-being of our team members.
In light with the potential benefits of the seminar for both the employees and the broader community, does Vodacom see the seminar as a model for other companies to follow, and what advice would you offer to other organisations looking to implement such initiatives?
Lastly, as we reflect on the potential benefits of this seminar for both our employees and the broader community, we see this initiative as a model that other companies can adopt. The impact of such programmes extends far beyond the walls of our organisation, reaching deep into the fabric of society, enriching not only the people directly involved but also resonating positively through various social spheres. To organisations looking to implement similar programmes, our advice is simple: pay attention to your employees’ needs, collaborate with financial experts and create a supportive environment that promotes learning and growth. In essence, by following these guiding principles and embracing a holistic approach to programme implementation, companies can create a ripple effect of positive change that extends far beyond their immediate spheres of influence, enriching the lives of employees and strengthening the bonds within the broader community.
