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YOUR NEWS, YOUR VIEWS, YOUR WORLD
April 2014
Employee
Benefits’
new vision
Emerging Markets
taps into Ghana’s
budding economy
Driving
success
How to
beat the
financial
crunch
Chauffeurs empowered
Celebrating 20 years of democracy
Our B-BBEE scorecard explained
Sanlam’s changing face
Healthy choices’ big rewards
MetropolitanRepublic/11540/E
TOP LINE THINKING
FROM JOHAN VAN ZYL
Sharing the
hard work of
transformation
Introducing a
really big carrot
to encourage your
RA clients to
continue to save.
How do we define success?
O
ver the last couple of weeks we’ve received fairly positive media coverage
on our transformation success with our broad-based black economic
empowerment partner Ubuntu-Botho. The media coverage was positive
because our partnership with Ubuntu-Botho was portrayed as one of the most successful
empowerment transactions of the past 20 years.
I am, obviously, delighted to say I share this view!
While we should trumpet our successes to the outside world, we should also –
first and foremost – be clear about how we define success and what it will take to
achieve it. We first do the hard work before sharing the good story.
In the case of our successful partnership with Ubuntu-Botho, it’s important to
keep in mind that our success was 10 years in the making. When we took that first,
brave step in 2004 we knew we wanted to conclude an empowerment transaction.
We also knew the transaction would succeed only if we structure it as a business
transaction. (We dealt with the detail of the transaction in the previous issue of
Inside Sanlam.)
The journey of success we’ve enjoyed thus far with Ubuntu-Botho has had a
profound impact on the Sanlam Group. Our successful empowerment partnership
has offered us the opportunity to transform sustainably – which is in line with our
diversification strategy. Remember, diversification is one of our strategic pillars
that will take us into the future. It’s about diversifying our client base across all the
market segments into different geographical areas, with a diverse product range
and an increasingly diverse adviser and broker force – mainly in South Africa and
also into other selected emerging-market countries. This is one way of ensuring the
sustainability of our business in the long term.
By the way, we’ve released our latest Sustainability Report. I encourage you
to read it on our website. You’ll be an even prouder Sanlammer once you see the
various initiatives under way to ensure we’re properly geared to embrace the future.
Your role and work is of paramount importance on this journey into the future.
We need all hands on deck and for everyone to play their part. Our outstanding
financial results show that each and every one of us can do this – and that we can do
it as a team. Our Blueprint for Success supports this and puts our goals within reach.
Your clients might sometimes find it challenging to consistently make their
monthly contributions. With the Cumulus Echo Retirement Annuity your clients
are encouraged to keep contributing for longer. How? With a big carrot called the
Echo Bonus, which is an additional amount added to their proceeds at retirement
or termination. The longer they contribute, the bigger the carrot. In fact, by the time
they have contributed for 25 years their Echo Bonus equals 50%* of their
retirement savings. This percentage will increase by 20% with every 5 years
that they remain invested thereafter.
For more information go to sanlam.co.za/intermediary
*For the first contribution layer.
This issue of Inside Sanlam looks at transformation
‘If we want our future business prospects to be favourable, we need to
create a diverse and inclusive workforce. This is an important aspect of our
sustainability.’
Cumulus Echo Retirement Annuity
Page 10, Shameemah Fayker, Senior Manager: Group Human Resources
Savings & Investment | Personal Cover | Retirement | Health | Education | Short-term Insurance | Wills & Trusts
www.sanlam.co.za
LICENSED FINANCIAL SERVICES PROVIDER
IMAGE SUPPLIED
‘Sanlam gave us the opportunity to buy the vehicles in its fleet and three years
to repay the money at a very good interest rate.’
Page 16, Neil Cyster, Chairman: On Time Chauffeur Services
‘You can change lifestyle habits only if you have a passion and genuine desire
to live more healthily.’
Page 19, Dawie de Villiers, CEO: Sanlam Employee Benefits
April 2014 // InsideSanlam 1
CONTENTS
THE PEOPLE
7 Your letters
You have your say
16 Changing gears
From drivers to owners – On Time Chauffeur Services
19 Healthy choices
How to make small changes for a big reward
30 Out and about
See who was where and why
32 The back page
Thelma’s blog and puzzles to keep your mind fit
IN THE NEWS
IN
THE
NEWS
SDM renews the fatherly bond
This will be the second year the Sanlam
Developing Markets (SDM) Trust partners with
actor Zane Meas’ Fatherhood Foundation to give
hope to children from disadvantaged homes.
Zane, well known for his former role as
Neville Meintjies in the TV series 7de Laan, runs
the Fatherhood Foundation outreach programme
with a mission to improve communities by
increasing the number of children growing
up with responsible and loving fathers. Last
year they reached over a thousand children.
Close to home
Zane Meas
THE BUSINESS
2 In the news
All you need to know about in the Sanlam world
6 Asked and Answered
Some burning questions are answered
8 Sanlam scores
Our B-BBEE scorecard explained
10 The changing face of Sanlam
Look how far we’ve come
12 Sanlam strengthens democratic SA
Twenty years of helping to build a nation
22 Ghana’s untapped market
Enterprise Life and its aspirations
24 Creating a Sanlam state of mind
Understand Sanlam’s sponsorship choices
THINKING AHEAD
15 SEB keeps up with changing times
A new strategy of collaboration
26 Hold meetings that matter
Meet goals when you get together
27 Survive the economic pinch
Tips to be smart with your money
28 Save now, take it easy later
A yearly checklist to safeguard your future
THE COVER PETER CHRISTIANS, NEIL CYSTER AND HEINRICH NOBLE
PHOTOGRAPHER SHAVAN RAHIM
For Sanlam
Head: Group
Communication
Ainsley Moos
Manager: Group internal
Communication
Chris Kota
Senior Manager:
Communication, Sanlam
Segment Solutions
Esann de Kock
Communication Manager:
Sanlam Investments
Sonia Jamoulle
Address Sanlam Head
Office, 2 Strand Road,
Bellville, South Africa
For New Media Publishing
Editor-in-Chief Trudie Myburgh
Group Managing Editor Melanie Farrell
Assistant Editor Pontsho Ramontsha
Editorial Liesl Peyper, Karin de Beer,
Marga Scheffler, Letitia Watson,
Una Nieuwoudt, Pieter Vermaak,
Maya Morgan
Design Christopher Evans, Nita Nagar,
Carlyle Meder
Project Manager Mamusa Ndzeku
Account Director Tinnette Fourie
Group Head of Content Adelle Horler
GM: Custom Andrew Nunneley
Printer CTP Web
Published for Sanlam by New Media
Publishing, 19 Bree Street, Cape Town
Telephone 021 417 1111
William
Wildeman
William Wildeman, SDM trustee,
has a personal connection with
the vision of the Fatherhood
Foundation.
‘I grew up with an alcoholic
father who was present but absent
at the same time,’ he says. ‘I’ve never
had the privilege to be mentored and guided
by my father. I had to fight my own battles with
a supporting mom who had to play both roles
– as a mother and a father. Meeting Zane Meas
three years ago, I immediately embraced his
vision. I approached Sanlam about the initiative
and the rest, as they say, is history.’
William’s role in the SDM Trust has afforded
him the opportunity to give back in a way that
resonates with his own life experience.
‘What stood out for me was the Fatherhood
Foundation’s Future Builders programme,’
he says. ‘It deals with such issues as emotional
identity wellness, mental wellness, spiritual
wellness, awareness of dangers to wellness,
social wellness, adding value, future planning,
physical wellness and lifestyle.’
Coming up
This year the SDM Trust-sponsored programme
started in February at four East London and two
Port Elizabeth schools. Phase 2 of the project will
start in May and run for three weeks. It involves
the same Grade 7 and 8 learners it engaged
with in 2013.
Second phase
This will include:
promotion of analytical thinking, decision
making and basic study skills
a focus on young fathers, pregnancy, and HIV
and Aids
improving social skills, such as social etiquette
and showing respect.
What does the SDM Trust do?
The SDM Trust administers a fund that’s
made available for social-responsibility
initiatives – mainly affording help to
disadvantaged schools and supporting
black broker development.
Back to the ballot box
Voters formed long queues to vote in South Africa’s first democratic
election 20 years ago on 27 April 1994. We’ll be queuing up to mark
our ballot papers again on 7 May. To find your voter station visit
elections.org.za or SMS your ID number to 32810.
£6 billion goal for
Sanlam Private Wealth
they have under management,’ he said.
Sanlam Private Wealth in the UK, now steered
‘An alarming few are talking about what
by a new chief executive, is aiming to have
they can do for the well-being of the consumer
£6 billion in funds under management over
– about what they’re doing to be better and to
the next three years. What’s more, it aims to
deliver greater value.’
deliver greater value for its clients.
Alex replaces Nigel Speirs who’s
Alex Morley, new Chief Executive,
been chief executive since Sanlam
said the goal is to grow the firm ‘in
bought his firm, Wales-based
a careful and considered fashion’,
Buckles IFA, in 2008. Nigel remains
targeting an adviser headcount of 250
with the company as Head of
to 300 by 2017.
Distribution for Sanlam UK, a position
Alex highlighted how the UK’s
Alex Morley
he has held since 2009.
advisory sector has been dominated for
Alex was previously CEO of English Mutual,
too long by ‘faceless’ corporations concerned
only with profitability. ‘The sector is awash with a part of Sanlam UK. This appointment should
cement Sanlam’s presence throughout the
companies keen to show how cheap they are,
UK’s Midlands and southern region.
or how many advisers they have or how much
A feather in
Jake’s cap
Sub-Saharan Real Estate
Fund shines on debut
Jake Mokwene, Wealthvision BlueStar Principal, has
been appointed honorary president of the South
African Poultry Association (Sapa) for 2014. Jake,
a poultry farmer, owns a thriving 70-hectare farm
near Rustenburg, North West.
He’ll receive his award during Sapa’s national
conference on 10 June at
Emperors Palace, Gauteng.
Jake was on our cover for
the September 2013 issue of
Inside Sanlam. To read more
plus
Up close
and
about him, go to insidesanlam.
personal
with
Temba
Mvusi
co.za and search for the
September 2013 issue of the
monthly magazine. Click on
FEATHER
‘IS Monthly Magazine’ in the
IN
HIS
CAP
menu on the left of the page.
Sanlam’s sub-Saharan Africa Real Estate Fund,
listed on the Stock Exchange of Mauritius, has
posted strong results for its first year.
The fund, structured as a listed property
company, declared a maiden dividend
of $0,1337 per share for the year ended
31 December 2013. The annualised total
return for the period was 22,35%.
The company also acquired an A-grade
office tower in Victoria Island in Lagos, Nigeria,
for $43,7 million whose tenants include large
multinational organisations. The company also
owns assets in Ghana and Tanzania.
Johan van der Merwe, CEO: Sanlam
Investments, says the company forms an integral
part of the Group’s growth strategy, and was
taking advantage of its large footprint on the
September 2013
André Larisma,
new Head of Reality,
on cross-selling,
psychographics …
and Antarctica!
HOW TO
NEGOTIATE
LIKE A
MASTER
JAKE MOKWENE,
PRINCIPAL:
WEALTHVISION
BLUESTAR, HAS A
(FIND OUT WHAT IT IS ON THE BACK COVER)
OFC_Sep.indd 1
3 May
World Press
Freedom Day
WHAT’S
ON?
7 May
South African
national election
continent. ‘The company is a strong
demonstration of our entrepreneurial
Johan van
ability and is a further step towards us being der Merwe
able to provide the investor community with
a comprehensive suite of products for Africa.’
Victoria Island in Lagos, Nigeria.
2013/08/22 11:32 AM
7–9 May
World Economic
Forum on Africa
23 May
2013 MDDA-Sanlam
Local Media
Awards
27 May
The SPF Blueprint
video competition
‘Oscar’ evening
29 May
SEB Benchmark
Symposium Jhb;
4 June: Cape Town
IN THE NEWS
Make sure your
vote counts
BACK
IN
TIME
The year 1994 was a watershed period for
South Africa, with the country holding its
first democratic election. In support of this
momentous shift in our country’s history, Sanlam
provided voter education sessions, booklets and
videos to all employees to ensure they were able
to exercise their democratic rights.
In further efforts at building a bright
future for all, a year prior to the country’s first
democratic election, Sanlam was instrumental
in building the Masakhane (‘Let us build
together’) shopping mall at Lawaaikamp in
George, Western Cape. This innovative project
was the first shopping centre created from
shipping containers.
‘The shopping mall is a symbol of what
can be achieved when people of all races from
different communities, and from the formal and
informal sectors, join hands and build together,’
said the late Johnnie Roelofse, then Sanlam’s
General Manager: Cape Region, in his speech at
the opening of the mall.
Tokyo Sexwale, the ANC’s premier
candidate for Gauteng at the time, was the
main speaker at the opening ceremony. He
highlighted how the future does not belong to
great business ventures but to small projects
This year is a milestone for South Africa – the
country celebrates 20 years of democracy and
will hold its fifth democratic national elections.
As a responsible corporate citizen Sanlam
appreciates the role elections played in our
transition to democracy. So cast your vote on
7 May and remember: the world is changed by
your example, not your opinion.
First-time voters say:
I’ll be voting in the
upcoming election. I think
voting is important because it’s
one of the fundamental rights we
as the citizens of South Africa are
enjoying after democracy. It gives
us an opportunity to have a say
on who must run the country.
such as Masakhane.
During that period, Sanlam Properties
also announced its plans for a shopping
centre in Dobsonville, Soweto, and by
August 1994 more than R450 million had
been invested in commercial facilities in
underdeveloped areas.
In April 1994 Johnnie
Roelofse, then General
Manager: Cape Region,
handed a symbolic key to Ben
Busakwe, Chairman of the
Liaison Committee and bakery
owner, at the opening of the
Masakhane mall in George.
SIKHO MHLEKWA,
IMPLEMENTATION SPECIALIST:
DISTRIBUTION REMUNERATION
POLICY AND ADMINISTRATION
I’m very excited to
participate in the national
election and I’ll definitely make
the time to cast my vote. People
APP
OF THE have given up their time, effort
Expense Tracker 2.0 Money is tight and effective budgeting starts with understanding
MONTH and lives for us to be able to
your expenses. Download this handy app to help you to keep track of where your money is
vote. Therefore voting is such
going and the built-in financial assistant will comment on your financial health status.
an honour and a privilege to us.
Free at the Apple App Store and Google Play.
One shouldn’t underestimate the
power of one’s vote; every vote
counts and can make a difference
in improving the country.
Moreover, when you cast your
vote you’re making your voice
heard. You have the opportunity
to play a role in improving issues
in the country that you feel are
not up to standard. If you don’t
vote you face the risk of being
Be smart, stay safe, and win!
governed by someone who
doesn’t represent your views
security awareness, follow these simple steps:
IT security threats are on the rise. From
1. Find the little fish icon on your desktop and
spear-phishing to cloning, cybercriminals are
or have the country’s interest
double-click on it.
devising measures to gain access to your key
at heart. If you don’t vote, you
2. Watch the five-minute video Something
information. Educating yourself and being
can’t complain!
aware will protect your valuable information.
And if you need another incentive, you could
also be the proud owner of a new Apple iPad
mini. To enter the current competition about IT
4 InsideSanlam // April 2014
Phishy.
3. Answer the five easy questions correctly and
stand a chance to win an Apple iPad mini.
The competition closes on 30 May.
ZUBEIDA GIERDIEN, HUMAN
RESOURCES CONSULTANT:
SANLAM INVESTMENTS
New faces
join Sanlam
CA programme
IMAGES GALLO IMAGES/AFP, GETTYIMAGES.COM AND SUPPLIED
Supporting
a brighter
future
Five new recruits joined the Sanlam CA Training
Programme this year, including the programme’s
first female trainee.
The South African Chartered Accountancy or
CA(SA) qualification is highly regarded not only in
South Africa but throughout the world.
Patrick Hartnic, Head: Group Financial Reporting
and current CA training officer, explains that
during the programme, which has been
running for just more than a year, ‘the
trainees are placed at Group Office for the
first 18 months to learn about the Group
structure and its processes, after which
Patrick they are rotated to different business units
Hartnic depending on business needs’.
The three-year South African Institute of
Chartered Accountants (Saica)-accredited
programme will contribute towards the
transformation of the accounting industry.
MEET THE NEW RECRUITS
‘Advanced level’
On why he chose to train for his CA(SA) at Sanlam,
Tumelo Doone says: ‘At Sanlam I can get exposure
to the different competencies at an advanced level.’
‘In driving seat’
For Kenneth Maake, Sanlam’s diversified services
were a big drawcard. ‘The company will allow me
to be in the driving seat of my career and give me
the opportunity to choose the areas I want to get
exposure to.’
‘Getting better’
Grantham Josephs’ experience so far has been very
positive. ‘The second-year trainees and managers are
very understanding and patient with us because it’s
obvious we don’t know that much at this stage – but
I can already see myself getting better each day.’
‘Key to success’
Stewart Nemaitoni knew the right training was key to
his success. ‘The opportunity to complete my training
contract at a unique and complete global financial
services provider was too good to pass up!’
‘Challenge from day one’
The first female trainee, Simamile Makhunga, says:
‘Being one of a few trainees at Sanlam means
you’re given more responsibility, which challenges
you from day one of joining the Group.’
Support system
During their journey to qualifying as CAs trainees are
supported through:
group coaching sessions – intended to help firstyear trainees to settle in the company.
the Mentorship Programme – personal mentors
who are already qualified CAs guide the trainees
with work-related and other matters as they juggle
work and study.
Personal Buddies – second or third-year trainees
already in the programme assist new recruits.
The 2014 Sanlam CA
Training Programme
recruits. From
left are Stewart
Nemaitoni, Tumelo
Doone, Simamile
Makhunga,
Grantham Josephs
and Kenneth
Maake.
Follow @sanlam to
see who tweets what
about us
@CorpGamesSA
| 24 Mar
A HEARTY welcome
to the team from @Sanlam for
entering the #CTCG 2014! Are you
all getting fit & ready for games
day? #getfitforbusiness
@RichSimmondsZA
| 20 Mar
#Entrepreneurs,
the Sanlam / Business Partners
Entrepreneur of the Year®
competition is on! Prizes worth
R1,345,000 http://ow.ly/uEAjU
@Cool_Editor
| 20 Mar
Sanlam: Graduate
traineeship opportunities http://
goo.gl/fb/Plmjq
@dionchang
| 18 Mar This morning’s ‘office
view’. Trend talk
for #Sanlam Glacier summit in
picturesque George. #thingsisee
… http://instagram.com/p/
ltucJhvxhS/
ASKED
AND WEANSWERED
YOU
YOU
are a few simple things employers can do to
improve prospects for their employees’ golden
years. These include:
1. Hiring qualified financial advisers who are
familiar with the rules of the relevant fund to
run annual retirement sessions for employees
2. Arranging retirement workshops to
educate employees and their spouses
These workshops may be improved by:
aligning them with life stages so groups
of employees receive information relevant
to their circumstances
providing attendees with their benefit
statements before the workshops so they
understand their circumstances
providing estimated replacement ratios
based on their actual contributions
affording employees the opportunity to
effect changes at workshops to reduce
procrastination
bringing in retirees who worked at the
business to speak to employees.
3. Arranging for human resources (HR)
to give employees better assistance with
retirement matters
Employees rely heavily on HR to obtain not
only retirement fund information (51%) but also
financial advice (32%) at retirement. Employers
can empower HR to bridge the gap between
the fund and employees by:
upskilling HR to be able to provide accurate
fund information
providing HR with trustee-approved schedules
Other areas that are interrogated as part of
the due-diligence process are compliance to local
laws and regulations, governance and compliance
policies and practices as well as looking at the
potential partners’ litigation history.
We also do selective enquiries via contacts
built up over the years. Having said that, there’s
no substitute for face-to-face interaction with
potential partners, looking them in the eye and
getting a gut feel for whether there’s a good
cultural fit between the parties.
What is Sanlam’s policy
with regard to
supporting political
parties financially or
otherwise?
SANA-ULLAH BRAY, GROUP
COMPANY SECRETARY:
SANLAM LIMITED AND
SANLAM LIFE, SAYS:
While it’s Sanlam’s policy
to support the development of democratic
institutions and social initiatives across party
lines, it does not provide support to any
individual political party, financially or otherwise.
How does SEM determine
the ethical and social
values of organisations
before doing business
or building relations
with them?
THABIED MAJAL, CORPORATE
DEVELOPMENT EXECUTIVE:
SANLAM EMERGING MARKETS
(SEM), SAYS:
The SEM strategy and business
philosophy is premised on establishing
partnerships within countries we want to enter.
VIRESH MAHARAJ, CHIEF
MARKETING ACTUARY:
SANLAM EMPLOYEE
BENEFITS, SAYS:
Employers need to play
a greater role in addressing
South Africa’s growing retirement crisis
because they’re well placed to communicate
to staff, in a good position to facilitate advice
regarding choices when joining a fund and can
guide employees about preserving retirement
savings if they leave the company before
retirement.
While the National Treasury is working on
retirement reforms at a structural level, there
Our winner
‘My Blueprint resolution
is simple: do more
towards being clientcentric, as this ties into
Treating Customers Fairly (TCF).’
PAUL MASILO, SECTION 13 SPECIALIST:
SANLAM UMBRELLA FUND
Congratulations to Paul for winning the R350
Woolworths voucher!
WIN! This month we
SHAHEEDA MIA, MANAGER:
GROUP CEO OFFICE, SAYS:
Transformation effectively
means a significant change in
something and can be used
in a broader context than just the
empowerment and B-BBEE agenda. B-BBEE
is a framework or mechanism instituted by
government which tries to bring increasingly
more black people into the active South African
economy by redressing social and economic
inequalities that arose out of apartheid.
LETTERS
‘Sanlam gave me the
chance to qualify’
IMAGES DIAAN DE BEER AND SUPPLIED
Got a
question?
There’s
a huge
amount of
expertise
in our
company
– we’ll
provide the
answers.
Once we’ve built a partnership, one of the key
pillars of our strategy is to do more with the
partners that we already do business with.
The challenge is to identify the partner
that offers the ‘right fit’ for Sanlam. This
process starts with our initial interactions with
prospective partners. Part of our due-diligence
process is to look at areas that provide insight
into the ethical and social conduct of the
potential partner and target company. Ensuring the prospective partner, directors
and key management are of ‘good standing’
is the first step. There have been instances
where we’ve walked away from further
discussions with companies if there’s doubt
regarding the reputation and/or integrity of
key individuals in the business.
In the previous issue of
Inside Sanlam, we asked:
What are your Blueprint for
Success resolutions for 2014?
What’s the difference
between transformation
and broad-based black
economic
empowerment
(B-BBEE)?
YOUR
According to the SEB
Benchmark survey, 38% of
working people never get
professional advice about
saving for retirement.
What can be done in
the workplace to help
solve this problem?
SAID
they can use to offer guidance to employees
e nabling HR to direct employees to
mandated financial advisers who are familiar
with the rules of the particular fund.
4. Raising awareness of retirement planning
through existing performance management
infrastructures
This could be as simple as the inclusion of
a retirement planning conversation in the
performance appraisal process.
I was featured in Inside Sanlam a while ago (thank you!)
and at the time I’d listed furthering my education as a
paramedic – my after-hours ‘hobby’ – as a future goal.
However, I had some challenges in that regard.
I was blessed recently when the NGO I volunteer
for offered to pay my course fee so I could move from
a level 5 basic life-support medic to a level 6 intermediate
life-support medic. My challenge was to complete a threemonth full-time course. But there was a huge motivating
factor – this course was being discontinued at the end of
the year and would be replaced with a two-year course.
Concerned, I approached my line manager and he
supported this initiative 100%. I then went to our HR liaison
to ask for permission to do the course. I received my answer
within a few weeks and on 3 January I put on a uniform and
went back to school.
At the end of March I wrote my final exams and
LET
US
KNOW
want to know:
What do you remember
about the first democratic
election in South Africa?
There’s another R350 Woolworths
voucher up for grabs. So hurry!
Email your answer to
[email protected]
by 30 April 2014.
Write to [email protected]
– R200 is up for grabs! Letters may
be published under a pseudonym,
but please send your real name and
contact details for our records.
graduated cum laude. What made it extra special was being
one of only three students to score this well.
I still need about 120 front-line vehicle hours and 12
hours of maternity shifts, which I’m currently doing over
weekends and at night.
I can’t explain how humbling this experience has been.
Sanlam and the various management
layers and people made this happen
for me. No other company from my
experience is this good to its people.
I have an opportunity to help out
and give of my time, and Sanlam has
‘PEOPLE
empowered me to do this. For this
STARTED
MAKING PLANS
I thank everyone who had a hand in
TO HAVE ME
AIRLIFTED
BACK HOME!’
making this happen. I hope to save
many lives going forward.
PLUS
DAVID FARBER, SERVICE LINE
MANAGER: INFORMATION TECHNOLOGY
INFRASTRUCTURE SHARED SERVICES
HOW TO
(ITISS)
- Kokkie Kooyman (find
out more on page 20)
SUSTAINABILITY
FRAMEWORK
PULL-OUT
POSTER
PAGE 16
We have weekly polls at
insidesanlam.co.za where you can
weigh in on a range of topics. Visit
the website and click on ‘Polls’ on
the menu on the left of the page. Here
are some recent poll results:
THE
POLLS
Did you know we’re now a
Level 2 B-BBEE company?
YES = 46,5% NO = 16,3%
WHAT DOES THAT MEAN? = 37,2%
Note: To learn more about our B-BBEE
status, go to page 8.
March 2013
SANLAM
FINANCIAL
RESULTS
Everything you need to
know, at a glance
BLUEPRINT
FOR
SUCCESS
Embrace it! Own it! Live it!
SERVICE
LINE
MANAGER
DAVID FARBER
TO THE
RESCUE
GROW YOUR BONUS
RETIRE IN STYLE
MAKE PEACE IN THE WORKPLACE
WHY HE’s YOUR BEST
BET IN A CRISIS
(SEE THE BACK COVER)
Were you forced to
tighten your belt
after the National
Budget Speech?
YES = 29,9%
NO = 5,4%
NOT SURE YET
= 2,7%
MY BUDGET IS
TIGHT EITHER WAY!
= 61,9%
For personal-budget tips
go to page 27.
THE BUSINESS
T R A N S F O R M AT I O N
B-BBEE status
Enterprise development
FULL MARKS
Empowerment
financing
Transformation is one of the five key
pillars of Sanlam’s business strategy.
Here is our FSC scorecard.
W
e acknowledge the importance of
transforming the South African economy
and view it as not only a business
imperative but a social one too, says Shaheeda Mia,
Manager: Group CEO Office.
Shaheeda Mia
‘B-BBEE contributes to the diversity of the Sanlam
Group and extends our range of skills and perspectives to gain
better insight and access to varied market segments. Furthermore,
it ensures a meaningful and sustainable inclusion of all South Africans
in the economy.’
For the past five years Sanlam’s transformation has progressed
against the Department of Trade and Industry’s B-BBEE Codes of Good
Practice (the Generic Code), but from 2013 onwards the Group measures
its B-BBEE compliance against the Financial Sector Code (FSC), which is
specifically applicable to the financial services industry.
In 2013 we attained a Level 2 contributor status for the first time.
But in order to understand the progress Sanlam has made against our
transformation targets over the past decade and truly realise what this
level means, you need to understand the elements of the FSC scorecard
and what each element measures.
Sanlam’s verified FSC scorecard
FULL
MARKS
WEIGHTING
Ownership
15.90 14
Management
control
7.07 8
Employment
equity 7.07 15
Skills
development
9.13 10
Preferential
procurement
14.04 16
Enterprise
development
5.00 5
Empowerment
financing
15.00 15
Access to
financial services 11.59 14
Socio-economic
development
2.79 3
Employment equity: Measures the achievement of equity in the
workplace in relation to black people in senior, middle and junior
management as well as a percentage of black disabled employees and
black female employees.
Skills development: Measures the employer’s expenditure on training
initiatives and development programmes, with a specific focus on
black employees.
Preferential procurement: Measures the overall procurement spend from
suppliers based on B-BBEE procurement recognition levels including
qualifying small enterprises (QSEs), exempt micro enterprises (EMEs) and
suppliers that have a percentage of black-owned or black woman-owned.
B-BBEE status
LEVEL TWO
CONTRIBUTOR
2
SCORE Management control: Measures the effective control of an enterprise by
black people in relation to their participation on the board and in top
management positions.
At the end of December 2013 we had a total
of R13,8 billion in empowerment finance and
targeted investments assets. We support
the view that empowerment financing goes
beyond only shareholding status, and focus on
promoting empowerment through targeted
investments as well.
Sanlam is not just paying lip
service to transformation.
We have achieved a Level 2
contributor status, but our
transformation journey
continues. We are committed
to making further progress, not
only because it is a business
advantage, but because it is also
the right thing to do.
ELEMENT FOR THE PERIOD
1 JANUARY TO
31 DECEMBER 2013
Ownership: Measures the effective ownership of and enterprise by black
people in relation to their voting rights and economic interests within the
enterprise.
Enterprise development: Measures enterprises’ spend on initiatives
intended to assist and accelerate the development and sustainability of
other enterprises that are qualifying beneficiary entities.
Empowerment financing: Measures the extent to which enterprises carry
out initiatives to assist and accelerate the development of other
enterprises.
Access to financial services: Measures the extent to which enterprises
substantially increase effective access to first-order retail financial
services for the defined target market.
IMAGE SUPPLIED
Sanlam
scores
We currently have three
primary enterprise
development programmes
to which we allocate a total
of R10,2 million a year.
Socio-economic development: Measures the extent to which enterprises
carry out general and financial sector-specific initiatives that contribute
to socio-economic development and promote access to the economy for
black people.
Total score 87.54 100
THE BUSINESS
T R A N S F O R M AT I O N
The
changing
is to equip individuals to form solutions to the
which has a reporting cycle of three years,
challenges faced in an increasingly complex
started in 2013 and concludes in December
and multi-dimensional business world, which
2015. A key focus of the plan until 2015 is to
often poses unintended consequences that
ensure employees are better informed about
make leadership tough.
EE practices.
This programme is in addition to the Sanlam
As tactics and strategies are applied
Management Development
towards achieving the
Programme and the Business
objectives set out in the
Management Programme,
EE Plan, it’s essential
Sanlam is
which have been well
that staff are kept up to
committed to
established within the Group.
date, Shameemah says.
creating a diverse
The SanlamUP Graduate
‘This is in line with our
and inclusive
Development Programme
commitment to open and
workforce. This is a
alone attracted 4 000
transparent communication
job applications in 2013,
business imperative of EE progress within the
demonstrating the need for
Group. The Employment
as it ensures the
development vehicles of this
Equity Consultative
sustainability of
kind in the country.
Forums (EECFs) within the
the Group.
‘Initiatives that target
respective businesses are
SHAMEEMAH FAYKER communicating regularly
graduates contribute towards
creating a pipeline of skilled
with staff members in an
employees and future leaders, which will
attempt to educate staff members about EE
ultimately aid the organisation’s transformation and to keep them informed about the progress
and growth strategies,’ Shameemah says.
made and areas of interest.’
Furthermore, the provision of equal
opportunities for people with disabilities has
4. Retention
been given priority. This includes offering
Employees respond better to a company
learnerships to unemployed individuals with
that represents who they are and where
disabilities. The Learnership for People with
they come from – a company that has their
Disabilities Programme empowers learners
interests at heart. ‘A driven, high-performance
with professional skills, work experience and
and high-reward culture, coupled with the
a qualification in long-term insurance on
promise of development and progression,
NQF Level 4.
as well as our ongoing transformation
Almost 80% of the members of the 2013
efforts, are therefore all retention measures
group were either appointed full time or are
that contribute to our talent management
doing an internship within the Sanlam Group
strategies,’ Shameemah says.
and the 2014 programme started in February.
‘These positive actions ensure that Sanlam
continues to be your employer of choice.
3. People management
By being a great company to work for, we
Progress against EE targets is monitored
can attract and retain diverse talent that can
quarterly at a Group and cluster level. The
take up the opportunities for leadership as
current Sanlam Employment Equity Plan,
they’re created.’
face
of
Sanlam
Our commitment to transformation has shown good improvement – and that’s
not only good for business, it’s a transformation story we can be proud of.
Transformation Strategy, which names the five
strategic pillars – staff composition, people
development, retention measures, people
management and culture.
1. Staff composition
Shameemah explains that various legal
frameworks – explicitly the Employment Equity
Act, the Labour Relations and Skills Development
Act, as well as the Financial Sector Code (FSC)
– inform the EE targets Sanlam works towards.
‘Our continued efforts to meet these targets
have significantly changed the company profile
over the years,’ she says.
Contributing to this significant
improvement is the Group-wide black staff
complement of 65,4% for 2013, exceeding
the target of 63,91%.
2. People development
‘Development remains a key focus. Total
training and development spend increased
by 25% in 2013, amounting to R144,4 million,’
Shameemah says.
A total of 89% of staff members received
training in 2013 at an average cost of R13 810
per person. The equivalent FSC score for skills
development was an impressive 9,13 out of 10.
Sanlam is focused on investing in the
development of young professionals. Over
the past few years four graduate programmes
were established, namely the SanlamUP
Graduate Development Programme, the
Actuarial Graduate Programme, the Vacation
Development Programme within Sanlam
Investments as well as the Sanlam CA
Training Programme.
Following an extensive needs analysis with
Johan van Zyl, Group Chief Executive, and
Sanlam’s Executive Committee, the Executive
Leadership Programme (ELP) was developed
to enable current high-performing senior
managers to further refine their leadership
and management skills. The aim of the ELP
Blueprint for Success is the Group’s employee
engagement vehicle designed to promote the
desired culture within the company. The aim
is to cultivate an inclusive, high-performance
organisational culture that encourages
openness, transparency and diversity.
The second Blueprint for Success survey
conducted in August 2013 tells an encouraging
tale of Sanlam’s culture. A total of 63% of
staff members participated, a 45% increase
from the 2012 survey, and the notable theme
in the results was development. In many of
the responses staff indicated their desire to
improve their current positions by gaining
more skills.
The investment the company has ploughed
into training is a direct response to this current
need for empowerment, Shameemah says.
Thinking ahead
‘Much has been achieved in the past 10 years but we’ll
continue to do more,’ Shameemah says.
‘As a corporate citizen it’s our responsibility to create
opportunities for more people to participate in the
formal economy.
‘Achieving a diverse workplace with employment equity
as a key goal means the company is actively contributing
towards building a stronger, more sustainable framework
that will not only be beneficial to our transformation
strategy, but will add to the transformation of the broader
South African society in which we operate.’
Transformation in action: staff composition from 2004 to 2013
69,7%
IMAGES GETTYIMAGES.COM AND SUPPLIED
S
anlam’s transformation journey
towards being more representative
of our society’s demographic is about
doing the right thing in support of South
Africa’s nation-building efforts – but it’s also
a business imperative.
Within Sanlam we take transformation
seriously. It’s one of the five key pillars of the
Group’s business strategy.
Employment equity (EE) calls for
a workplace that encourages fair
treatment and equal opportunity for all.
Sanlam’s aim is to promote diversity
and thereby optimise productivity,
says Shameemah Fayker, Senior
Shameemah Manager: Group Human Resources. ‘If we
Fayker
want our future business prospects to
be favourable, we need to create a diverse and
inclusive workforce. This is an important aspect
of our sustainability.’
The Group’s approach to transformation
is documented in its Human Capital
5. Culture
30,3%
2004
66,4%
SANLAM’S STAFF HAS INCREASED FROM 6 917 IN 2004 TO 12 031 IN 2013.
= BLACK
= WHITE
60,9%
60,1%
57,9%
54,8%
53,7% 51,6%
48,4%
46,3%
45,2%
42,1%
39,9%
39,1%
33,6%
2005
2006
2007
2008
2009
2010
65,4%
63,3%
2011
36,7%
2012
34,6%
2013
THE BUSINESS
C E L E B R AT I N G 2 0 Y E A R S O F D E M O C R A C Y
Sanlam’s
contribution to
democratic SA
Funding a toll bridge, nurturing soccer talent and
boosting mathematics – these are some of the
ways in which Sanlam has contributed to
changing the face of our beloved country
and making it a better place for all its citizens.
I
t’s been 20 years since all South Africans were finally allowed to cast
their votes in the country’s first democratic elections in 1994. But
even before the abolishment of apartheid, Sanlam had started its
own transformation process through various initiatives.
Inside Sanlam revisits some of the milestones the company has
reached during South Africa’s two decades as a democratic country.
Growth
capital
empowers
Black Management Forum
Investments Company (BMFI)
In 2001, Sanlam became the first and only
institutional shareholder in the BMFI by
investing R7,2 million for a 30% stake.
This growth capital allowed the BMFI to
pursue its strategy of becoming a broadbased empowerment partner in attractive
investments – and allows for the active
participation of BMF members.
The BMFI was established to comple
ment the vision of the BMF – to facilitate
‘the development and empowerment of
managerial leadership among black people
in the work environment’.
Through this involvement, Sanlam
contributed directly to the transformation and
growth of the economy and society at large.
This investment was one of a number of
black investment companies that Sanlam
has seeded and supported. The total funding
provided to these entities exceeded R400
million over the past 20 years.
From transport
to telecoms
Timeline
Sanlam’s
road to
democracy
Infrastructure involvement
Sanlam has played its part in the upliftment
of underdeveloped areas by financing several
infrastructural projects in domains such as transport,
telecommunication, energy, health and education.
Infrastructural projects funded over the years include
investment in:
a toll bridge across the Limpopo River enabling SA
to connect to its neighbouring countries
Seacom – a submarine fibre-optic cable system
connecting eastern and southern Africa with Europe
and India
Trans African Concessions (TRAC) – which is involved
in the building and operating of the N4 toll road from
the east of Pretoria to Maputo in Mozambique
subsidiaries that develop railway lines and related
infrastructure in Africa
In 2013, Santam, the South African Local
Government Association (Salga) and the Department
of Cooperative Governance and Traditional Affairs
helped five municipalities with disaster risk
management by donating firefighting goods and
equipment worth R2 million to local fire stations.
Fewer
projects
= larger
footprint
Corporate social investment (CSI)
Through the Sanlam Foundation and our business units,
we contribute directly to the social and environmental
needs of our society to improve the economic situation
of the communities we engage with.
CSI at Sanlam is an attempt to transform the broader
South African society. The total CSI spend for 2013 was
R64 million – 88% more than the previous year.
Since the launch of the foundation in 2011, Sanlam
has focused on leaving a larger footprint by being
involved in fewer projects:
teaching learners maths, science and English
awarding bursaries to students who want
a career in the financial services industry
HIV awareness among adults and children
environmental awareness
enterprise development
funding schools and educational facilities
financial literacy and consumer financial education
Supporting
industry
1993
In SA’s first BEE transaction, Sanlam sold
Metropolitan Life (MetLife) to Methold, a
company with an 85% black shareholding
consortium. The MetLife transaction
resulted in the formation of New Africa
Investments Limited (NAIL).
1994
Peter Swartz becomes the first black
Sanlam board member.
1995
Sanlam extends its Prize for Youth
Literature to include all official languages.
1997
Dawn Mokhobo becomes the first black
female Sanlam board member.
1998
John Moalusi becomes the first black
Sanlam Executive Committee member.
2000
Sanlam starts sponsoring educational
children’s TV series Takalani Sesame.
Association for Savings and
Investment South Africa
(Asisa)
Sanlam is an active founder member of
Asisa, a body empowered by a mandate
from an industry that manages assets
of nearly R6 trillion. It’s a formidable
partner around government’s
negotiation table where it proactively
engages on policy, regulation and issues
of common concern.
Asisa’s strategic purpose is to
strengthen relationships with key
stakeholders in the financial services
industry. It must also ensure that
our industry remains relevant and
sustainable.
Sanlam Group Chief Executive Johan
van Zyl serves as chairperson of Asisa
and as a result we’re represented at
the highest levels of policymaking and
regulation in the industry.
Sanlam’s printing and chauffeur services
are outsourced to internal black employees.
(Read On Time Chauffeur Services’
inspirational story on page 16.)
2001
Sanlam buys a 30% stake in the Black
Management Forum Investments
Company (BMFI).
The Sanlam Halala Cup is launched,
sponsoring women’s soccer leagues in
South Africa.
The Halala Savings Plan is launched for
the entry-level market, with monthly
premiums as low as R50.
2003
Sanlam launches the shariah-compliant
Nur Equity Fund for Muslim clients.
2003
Sanlam is nominated as one of the top
companies supporting initiatives to
combat HIV/Aids.
THE BUSINESS
THINKING AHEAD
C E L E B R AT I N G 2 0 Y E A R S O F D E M O C R A C Y
S A N L A M E M P LOY E E B E N E F I T S
2004
Patrice Motsepe is appointed as Sanlam’s
first black deputy chairman.
‘Our vision is to create sustainable, shared
value by exploring, understanding and serving
our clients’ interests in accordance with
leading-edge standards at all times and in
all interactions. By executing this vision with
energy and innovation, we anticipate the
result will be aggressive new business growth
for SEB.’
Sanlam became the first major financial
services company to conclude its own
ownership empowerment transaction by
selling 8% of its shares to Ubuntu-Botho.
2006
2007
The beautiful game
2008
Raisibe Morathi becomes the first black
female executive director.
Sanlam contributes R3 million to WWFSA’s Living Waters Unit, which focuses on
projects that help to maintain healthy
marine and freshwater ecosystems.
2010
Sanlam begins sponsoring the Sanlam Kay
Motsepe Schools Cup – an annual national
soccer tournament in which 2 500 schools
from nine provinces participate.
SEB keeps up
with changing
times
A new marketplace calls for a new strategy –
and that’s exactly what Sanlam Employee Benefits
is doing with its Client Solutions business unit.
Sanlam starts funding the Entrepreneur
of the Year competition with Business
Partners Ltd.
In Madiba’s footsteps
The Client Solutions team is responsible for
acting as advocates for clients within the
SEB business. The team will represent clients’
interests, give voice to their concerns and act
as the drivers of change to move SEB business
forward in a truly client-centric manner. This
role aligns with the execution of the principles
of Treating Customers Fairly (TCF).
‘We face a new frontier as SEB Client
Solutions and I’m looking forward to
working with the team to realise our vision,’
Richard says.
Sanlam partners with the World Wide Fund
for Nature (WWF) to promote sustainable
usage of SA’s marine and freshwater
resources.
2009
2011
The Sanlam Foundation spearheads the
Group’s corporate social and
environmental investment activities.
S
Sanlam partners with the Black
Management Forum (BMF) to host a golf
training workshop for young black
professionals.
disabled children. In 1999, a group of DICAG parents from
rural and informal settlements around Umtata, Eastern
Cape, formed the Happy Home Centre in Wynberg,
Western Cape, with the help of Nelson Mandela and
Sanlam. Sanlam sponsored the purchase of the centre
and has supported the initiative for more than 11 years.
‘A university professor became head of the centre and with
Sanlam’s help, and under her skilled leadership, the centre
has become totally self-sufficient,’ Adele says.
The Sanlam Foundation launches the Backto-School Executive Project that calls
on business unit CEOs to adopt schools
they attended and provide support.
The Sanlam Foundation partners with
the Programme for Technological Careers
(Protec) to launch the Learner Brilliance
Programme (LBP), providing additional
maths, science and English lessons to
80 Grade 10–12 learners at 14 schools
in Mogwase (North West) and Tzaneen
(Limpopo).
2013
Sanlam awards bursaries to five students
from the Nelson Mandela Metropolitan
University studying BCom Financial
Planning and intending to do a postgraduate diploma in Financial Planning.
Richard Tyler
2012
IMAGES GETTYIMAGES.COM, JÉAN DU PLESSIS AND SUPPLIED
When former President Nelson Mandela passed
away in December 2013, Adele Latchman,
Manager: Sanlam Foundation, reminisced
about Sanlam’s involvement at schools where
Madiba had left his mark.
Adele
‘Some time ago we visited Healdtown
Latchman Comprehensive High School in Fort Beaufort,
Eastern Cape, that Madiba attended,’ Adele says. ‘The
school is in a very remote area and the rough terrain
made it difficult to reach by car. What struck me was that
learners had to walk to school – over stony ground –
barefoot. They were all from extremely poor households
and if they didn’t receive a meal at school they had to go
without food.’
Sanlam sponsored a feeding scheme at Healdtown
High for three years. Adele is particularly proud of the
Happy Home Centre established in association with
Disabled Children’s Action Group (DICAG), a national
cross-disability organisation formed in 1993 by parents of
Realising the vision
Sanlam launches LifePower, providing
more affordable life and disability cover
for people with HIV/Aids.
Soccer sponsorship
According to company archives, Sanlam’s involvement in soccer dates back
to 1969, but in the 1990s it became more seriously involved in the sport.
Players from the Santos Football Club in Mitchells Plain in the Western
Cape were sponsored and a select few were also trained to become youth
ambassadors for an Aids awareness campaign among learners.
In 2001, Sanlam became the first corporate to sponsor women’s league soccer in
South Africa when the Sanlam Halala Cup was launched. The R5 million sponsorship
extended over five years. This league became the direct feeder for Banyana Banyana,
the national women’s soccer team, captained at the time by Desiree Ellis who had
also played in the Halala Cup league.
In 2010, Sanlam threw its weight behind the Kay Motsepe Schools Cup – an annual
national soccer tournament aimed at reviving the culture of school soccer. With
annual prize money of R3,4 million, it’s the biggest schools soccer sponsorship of its
kind in Africa.
To date, winning schools have received R13,6 million in legacy prize money that
has been used for building and upgrading school sports fields, security, classrooms
and computer labs.
The tournament has become an important platform for talented players to be
recruited and nurtured into professional players.
Sanlam enters into an agreement with the
National Treasury whereby minimum
values on retirement annuity and policies
are paid out in case of early termination or
if premium payments have stopped.
Viresh Maharaj
anlam Employee Benefits (SEB) has
responded to market shifts by creating
the Client Solutions business unit to
provide the leading-edge client experience in
the employee benefits industry.
The new Client Solutions business unit will
be headed by Richard Tyler, Managing Director:
Simeka Consultants & Actuaries, as CEO and
Viresh Maharaj, Chief Marketing Actuary: SEB.
SEB Distribution, Simeka Consultants &
Actuaries and Infinit Group Risk Solutions have,
as individual units, successfully built a valuable
brand for Sanlam in the employee benefits
marketplace over the past six years. This is
demonstrated by the record new business
flows that have been achieved, excellent client
retention figures and the number of accolades
over this period.
‘These teams provided structure and
discipline to our distribution at a time when
SEB was struggling to gain traction in a
very competitive arena and played a key
role in reinvigorating our market presence,’
Richard says.
However, competitors are adapting; clients’
needs are changing and the employee benefits
market is evolving. Today’s client is more
discerning and demanding. With this in mind, a
change in strategy is required to succeed. ‘The
approach that got us to where we are will not
take us to where we aspire to be.’
Clear strategy
Integrating SEB Distribution, Simeka
Consultants & Actuaries, Infinit’s sales team,
SEB Direct Sales, SEB Marketing and SEB
Communications into SEB Client Solutions
enables SEB to pursue a targeted, collaborative
and coordinated client engagement strategy.
‘This strategy will provide us with a
competitive edge as we are poised to
understand and serve the evolving needs of our
clients better than anyone else in the industry,’
Richard says.
The strategy is built on the
following pillars:
Client-centricity
‘Clients’ interests are at the core of
the strategy. These interests will be
systematically addressed in order to do
better than our competitors.’
Coordination
‘The unit will capitalise on strategic
opportunities as and when they
are identified in a coordinated and
streamlined manner to provide the best
possible solution to clients.’
Alignment
‘How we approach the market is
aligned with the buying behaviours
of distinct segments to optimise the
likelihood of our success.’
Intelligence
‘Serving our clients requires us to
understand them better. SEB’s Client
Solutions will introduce ways to
capture intelligence and distribute it
across the business where it can be
used to make better decisions.’
Disruption
‘We aim to disrupt the status quo by
challenging existing beliefs, unsettling
our competitors’ relationships and
pursuing targeted clients using
pioneering techniques.’
THE PEOPLE
MORE TO ME
CHANGING GEARS
From drivers to owners
On Time Chauffeur Services has been going full throttle since 2000 when
an empowerment incentive by Sanlam gave seven staff members the
opportunity to establish their own business – and to change their lives.
economic empowerment was formally defined. Neil, Peter and Heinrich
remember how exciting but nerve-racking those early years were.
‘Sanlam gave us the opportunity to buy the vehicles in its fleet and
three years to repay the money at a very good interest rate,’ Neil recalls.
‘We started with a R35 000 cash flow made up of equal contributions by
each of us.’
Back then they drove exclusively for Sanlam staff and their visitors,
and they knew they had to provide an exceptional service. The peace
of mind a monthly salary cheque offered was something of the past.
They now generated their own income and were responsible for the
administration, logistics and servicing of the vehicles.
Getting the show on the road
The On Time team all agree that since they started out on 1 May 2000
their lives have changed for the better.
The challenges were tough but it made him grow as a person, Peter
The empowerment action of outsourcing its transport service was one
of a few outsourcing contracts Sanlam undertook in 2000, before black
Transforming lives
IMAGES SHAVAN RAHIM AND JÉAN DU PLESSIS
M
otivated by the trust the company had placed in them
by giving them the opportunity to buy the 10 vehicles in
Sanlam’s fleet, seven staff members worked long hours and
transformed their future by creating a business they’re proud of. Fourteen
years later, On Time Chauffeur Services is still prospering.
Of the original seven partners six remain, after Johannes Buys retired
a few years ago. The management team now consists of Chairman Neil
Cyster, Heinrich Noble, who’s in charge of finance, and Peter Christians,
the secretary and also the designated chauffeur of Sanlam’s Group Chief
Executive, Johan van Zyl. The other partners are Steven Mitchell, Michael
Knoll and William Isaacs, and the On Time office is managed by Evelyn
Williams and Cheroldeen Scharneck.
Enterprise development in action
says. ‘It was very difficult to lay the foundation of the business but now we’re
reaping the benefits. I’m much better off now, personally and financially.’
Heinrich, who’s been awarded Springbok colours in indoor cricket,
approached the new challenge with enthusiasm. ‘I learnt so much about
how to manage a business, through the good and bad times. I now make
disciplined decisions and learn from my mistakes. My life has changed
a lot, in a positive way.’
It also provided them with the opportunity to create a better future
for their children, Neil adds.
Changing gears
Many things have changed in the past 14 years, including the cars they drive.
They started out with the 10 Nissans they’d bought from Sanlam and over the
years changed from luxury marques such as Mercedes-Benz and BMW to the
13 fuel-efficient Toyotas and VW Jettas currently in their car pool.
‘The fluctuation in the petrol price is a factor in our choices but at the
From left are William
Isaacs, Heinrich Noble,
Llewellen Julius, Peter
Christians, Michael Knoll,
Dion Wingrove and
Neil Cyster of On Time
Chauffeur Services.
Sanlam realised that having the business owners
start without the benefit of business structure and
knowledge wasn’t in the new company’s interest.
Therefore Platinum Black – an enterprise development
specialist in the small and medium-sized business
environment – was asked to assist.
‘Platinum Black structures businesses for sustainability
and growth, focusing on skills transfer to enable the
enterprise to continue in an optimal manner in a short
period of time,’ explains Ian Reid, founder and MD of
Platinum Black.
‘This suited the needs of On Time perfectly. The
owners embraced the diagnostic and intervention, and
soon they were structured for optimum growth and
sustainability. A few years later, On Time has grown and
is a great example of enterprise development in action.’
THE PEOPLE
THE PEOPLE
MORE TO ME
William Isaacs and his
fellow On Time partners
have an open-door policy.
H E A LT H Y L I F E S T Y L E
moment there’s a need for a bigger vehicle and we’re in the
process of buying a Quantum bus,’ Peter says.
Sanlam remains their biggest client and their office is still
based at Sanlam Head Office, but in order to grow the business
they expanded their client base to include other companies and
private individuals.
On Time utilises the services of four contract drivers with
their own cars and five freelance drivers who use their pool
cars. ‘Our clients’ safety is very important and we verify that all
the drivers have valid professional driver’s licences, no criminal
record and a doctor’s certificate to prove they’re fit and healthy,’
Peter says. For the same reason, their work is now organised in
shifts. ‘Clients can be assured our drivers are well rested.’
Their safety record is exceptional, with only a couple of
fender benders and no serious accidents or carjackings in the
past 14 years, according to Neil.
They dream of expanding the business nationally one day,
Peter says, but a more immediate goal is to attract more clients
from Sanlam’s affiliates.
In cruise control
When they hang up their car keys they prefer to spend
time with their families. Peter loves gardening and playing
PlayStation games with his daughter and two sons. Heinrich is
the father of two small boys and loves the outdoors, hunting,
cooking and making his own biltong. Neil dotes on his oneyear-old grandson and loves watching rugby and cricket on
TV with his son.
Peter Christians
Driving the boss
Peter has been Johan van Zyl’s designated chauffeur
in Cape Town for four years. ‘It’s a huge responsibility
but also a privilege. It’s like driving royalty because he’s
Sanlam’s top man and runs an empire,’ says Peter, who
previously chauffeured Desmond Smith, Chairman of
Sanlam, as well as a previous chairman, Marinus Daling.
He addresses Johan as ‘Doc’ on their daily drives
and says even though Johan is relaxed about the dress
code, he realises baggy pants and an earring wouldn’t
go down well.
What I know about Johan van Zyl
Peter emphasises the high premium the Group Chief
Executive puts on his privacy but in the end relented and
shared five interesting things about Johan:
• He’s always busy working, either on his iPad or his
cellphone. The radio is tuned to RSG because he listens
to business and other news. ‘Sometimes I think he’s
napping, then I realise he’s busy thinking.’
• He’s very punctual and hates being late. ‘I always do my
best to have him on time for all his appointments.’
• His family is very dear to his heart. ‘He’s an example
to me in the way he makes time to talk to his wife and
children while we’re driving.’
• He’s down to earth. ‘I had to fetch him once in one of
our Toyotas because the Mercedes was late coming back
from the car wash. I apologised but he just said he likes
the car and his wife drives one.’
• ‘He never forgets my birthday.’
I’m much
better off
now, personally
and financially.
Famous faces on the backseat
What I’ve learnt
Many well-known personalities and important people
have been passengers of On Time Chauffeur Services.
The singer Manuel Escorcio, actress Shaleen SurtieRichards, TV personality Leanne Manas, Sanlam
Deputy Chairman and mining magnate Patrice
Motsepe, rugby legend Naas Botha and the late Hansie
Cronjé, former SA cricket captain, are just some of
the well-known people who have been chauffeured
around town by On Time.
Peter has learnt many things
from Johan over the past four
years. He shares five of them:
PETER CHRISTIANS
• Be punctual.
• Do things right the first time.
• Be honest. If you made a mistake, admit it.
• Always make time for your family, no matter how busy
you are.
• Have respect for the people in your team.
Change
for a
healthier
you
Nearly 70% of Sanlam
employees are
overweight, according
to the latest bWELL risk
analysis. Fortunately
small lifestyle changes
can have big rewards.
Come on, just do it!
W
e know – it’s hard to find the
time to exercise and eat a
healthy, balanced diet while
also trying to juggle life’s other demands.
But here’s the good news: a few simple
lifestyle adjustments can transform you into
a healthier, happier person.
The latest bWELL Risk Analysis, which
is based on 46% of Sanlam staff, showed
employees are overly confident about their
health and that being overweight relative to
the industry benchmark is a major problem.
The biggest culprits are poor nutrition and
too little exercise.
THE PEOPLE
H E A LT H Y L I F E S T Y L E
Results
of the
bWELL
Risk
Analysis
20%
You might argue you invest all your time
and energy in your job to secure a comfortable
retirement or pave the way for your children’s
education, but remember, poor health makes it
impossible to maintain a successful career.
Take ‘baby steps’ and turn it into a personal
challenge. Start with serious introspection and
draw up a list of your worst lifestyle habits in
order of importance. Then, based on these, set
one goal at a time. Achieving your first goal will
strengthen your resolve and give you drive to
tackle the next one.
The three components you need to work on
are nutrition, exercise and rest or relaxation.
Nobody expects you to change old habits
overnight, because trying to do so is a recipe
for failure. A healthy lifestyle is an ongoing
investment that takes only a few minutes from
your day but could add years to your life.
suffer from
stress compared
to the
benchmark’s
18%
On the road to better health
Dawie de Villiers, CEO: Sanlam
Employee Benefits
You can change lifestyle habits
only if you have a passion and
genuine desire to live more
healthily. Your passion will fuel
positive “growth” in terms of weight loss,
better performance and increased energy
levels. Feeling better about yourself and
your life leads to more enjoyment of the
things you love doing.
‘My lifestyle transformation started with
cycling. It’s amazing to be outdoors and
enjoy the beauty of nature while exercising.
I cycle about three times a week and try
to fit in a ride of at least three hours on
weekends. I regularly take part in stage
races and prepare for these by clocking
about 10 hours a week.
‘I don’t follow a special diet but eat more
balanced meals and smaller portions.
‘Other than trying to keep my
immune system strong by taking vitamin
supplements, I regularly go for physical
check-ups.
55%
of staff are inactive
compared to the
industry benchmark
of 50%
68%
are overweight
compared to the
benchmark’s
53%
What’s for lunch?
Fast food,
chips and
chocolate
Cafeteria
special
13%
6%
81
%
Packed lunch
(usually leftovers)
Eat for life
Fit for life
Pinpoint the ‘flaws’ in your nutrition and draw up a list of goals.
Replace bad food choices one by one with healthier alternatives.
Never let more than five hours pass without eating because low
blood sugar levels leave you feeling very hungry.
Eat three balanced meals and two healthy snacks in between.
Bake, steam, grill or poach food rather than fry it. Use oil sparingly
when cooking.
Avoid fast foods and any meals that include the word ‘instant’ on
the packaging because these are almost always loaded with sugar
and/or salt and preservatives.
Eat fresh food, especially vegetables.
Reduce sugar and starches such as bread, pasta, rice and potatoes.
Fill your plate with a variety of vegetables and/or salad. Avoid
creamy sauces and dressings.
Eat lean red meat (no more than three times a week), plenty of
fish and skinless chicken.
Maybe allow yourself one day of cheating a week.
Choose the activity you
like best and just get through
the first session, whether it’s
for 10 minutes or half an hour.
Remember, you don’t have to go
to a gym or run.
Draw up a weekly exercise
schedule. Try to exercise on the
same days and at the same time.
Start with three times a week
for a minimum of 20 minutes.
Set monthly goals and exercise
longer and harder as you
become fitter.
Do a mixture of cardio,
strength training and stretching.
Make exercise fun.
Anton Gildenhuys,
Chief Executive: SPF Actuarial
IMAGES GETTYIMAGES.COM, JÉAN DU PLESSIS AND SUPPLIED
A poll on the Inside Sanlam website about what the
company’s staff members have for lunch showed
81% bring a packed lunch from home (usually leftovers)
while 3% eat fast food and 3% do no better than
chips and chocolate. The remaining 13% opt for
the daily special at the cafeteria.
The results of this poll are encouraging. Planning
for lunch at work should be a priority – a balanced
lunch can provide the energy you need to get
through a hectic workday. And if you’re part of the
6% who eat on the go, it’s never too late to change
that habit. Your bank account will thank you too.
For more information on how to adopt and
maintain a healthy lifestyle, visit the bWELL website at
www.ecare4me.com/Portal/Member/LogIn/sanlam.
Regularity and consistency are
the keywords for me. I believe in
frequent rather than massively
intense exercise.
‘My exercise routine consists of a
workout at gym, followed by a run the
following day and a rest on the third. I try
to repeat this routine throughout the year.
The trick is not to abandon your routine
when travelling or on holiday – even if you
don’t do the same exercises.
‘Regular exercise gives me a healthy
appetite so I eat fairly big meals.
I generally don’t snack in between. My
alcohol consumption is fairly low and
I don’t smoke.
LET
US
We’d love to hear your
KNOWsuccess
story of how your
health has improved. Send
your story or contact details to
[email protected].
Hanlie Wethmar, Regional Worksite Specialist:
SFA Western Cape
Shortly after turning 50 my doctor put me on prescription
medication. I had high cholesterol and blood pressure. To
top it all I also received an email from bWELL informing me
that my recent health assessment results indicated that I was
obese and that I had to consider making some lifestyle adjustments.
‘I regularly did client presentations during which I asked the
question, “Are you physically healthy?” I then pointed out that both
physical and financial health requires a strong will and a desire to
change. I realised my message would be much more persuasive if it
came from personal experience.
‘I bought a treadmill and started walking. Initially I was exhausted
after 10 minutes, but now I can go faster and longer. I started an
exercise diary, which motivates me to improve. Once a week my
husband and I do an 8km walk and chat to catch up.
‘The biggest challenge was to cut out all sugar and most starches, and
to start eating breakfast. I’m now much more aware of what I eat and
don’t snack on sweets any longer. I’ve lost weight and have reduced my
prescription medication. I feel great and have much more energy.
THE BUSINESS
SANLAM EMERGING MARKETS
ENTERPRISE LIFE
Massive untapped
market in Ghana
Enterprise Life is one of the leading life
insurers in Ghana. What makes this
company succeed where others fail?
Sanlam
Emerging
Markets (SEM) acquired
Enterprise Life in 2005
along with various other
operations in and outside
South Africa, and currently
holds a 49% stake in
the company.
E
nterprise Life – a market leader in Ghana’s life insurance
industry – recently won the Major League in Sanlam
Emerging Markets’ Cup of Nations competition (see box
on next page). We chatted to CC Bruce (Jr), Executive Director:
Enterprise Life, about the company’s successes and goals.
policies could be better. In general, the Ghanaian population has a low
level of disposable income. This makes selling life insurance, which is
mostly a grudge purchase to them, a challenge.
A high percentage of the country’s population still isn’t using banks and
there’s little information available to assist us with attracting new clients.
We need to find innovative ways to achieve better market penetration.
The prevailing unfavourable economic conditions also pose various
challenges to attracting new business and retaining existing clients.
CC Bruce (Jr)
Why is Enterprise Life successful?
Led by an efficient and visionary management team, our staff is
dedicated and results-driven. This is a great asset when the economic
environment enters challenging periods, as we’ve experienced recently.
We’ve established an effective distribution model to assist our sales
force in growing our market share. Also, our business processes are
reviewed regularly to meet our clients’ changing needs and trends.
Which markets or market segments does Enterprise Life
target and what are the growth prospects?
We focus on salaried individuals in the private and formal sector.
The insurance penetration in Ghana is about 1% among an estimated
population of about 24 million, which suggests there’s a wide market
yet to be covered. Currently about 40% of the entire working class earns
some form of regular income and we need to find a way to reach these
potential clients.
What are Enterprise Life’s goals for this year?
The bustling
Jamestown fishing
harbour in Accra,
capital of Ghana.
Our main goal is to create a client-centric environment in which we
follow our clients’ different and evolving financial needs, and to be
strategically relevant to them. We also want to drive qualitative and
profitable growth even further to develop our business.
Tell us about some of the company’s previous successes.
Enterprise Life has received the following awards in recent years:
• Life Insurance Company of the Year in 2009 and 2012, from the
Chartered Institute of Marketing, Ghana (CIMG)
• Third Most Prestigious Company in Ghana in 2011 and 2012, from the
Ghana Investment Promotion Council (GIPC)
• Leader in the Financial Services Sector (Insurance Category) in 2011
and 2012, from the GIPC.
What are the challenges of doing business in Ghana?
Premium collection isn’t where we’d like it to be and our rate of lapsed
What does being part of the Sanlam Group mean for
Enterprise Life?
IMAGES GETTYIMAGES AND SUPPLIED
Sanlam has provided significant support for our phenomenal growth,
ensuring we have key technical support in our operations – including
product development, actuarial and business processes.
The management team of Enterprise Life with Heinie Werth, CEO: Sanlam Emerging Markets, and Margaret
Dawes, Director: Sanlam Emerging Markets Africa (in the middle). The team is (from left) Solace OdamttenSowah, Senior Manager: Group Operations; Albert Amonoo-Mensah, Senior Manager: Actuarial; Daniel LarbiTieku, General Manager: Finance; Jacqueline Benyi, General Manager: Operations; CC Bruce (Jr), Executive
Director; Geraldine Abaidoo, Senior Manager: Individual Life Administration; Francis Akoto-Yirenkyi, Senior
Manager: Distribution; and Alex Baah-Inkoom, HR Business Partner.
Cup of Nations competition
Established in 2007, SEM’s annual incentive campaign,
currently called the Cup of Nations competition, is
designed to motivate staff at various country operations
of the cluster to overachieve and exceed their set targets/
budgets, deliver sustainable growth over the previous
years’ results and to foster a spirit of competition
between the businesses in the cluster.
Enterprise
Life at a
glance
In December 2000, CC Bruce
(Jr) was the first staff member
of Enterprise Life (then called
Enterprise Life Assurance
Company or ELAC). He was
commissioned to handle the
preparatory work for the
company, which opened its
doors in September 2001.
Today CC is still executive
director of Enterprise Life,
which has a staff complement
of 173 permanent members
and 892 sales representatives.
Enterprise Life’s head office
is located in Ghana’s capital,
Accra, and has 11 branches,
four sales offices and 12
agency offices across the
country.
With a market share of 22%,
Enterprise Life is ranked
second in terms of market
share and number one in
terms of profitability.
Ghana is a producer of petroleum DID
YOU
and natural gas, one of the
KNOW
world’s largest gold and diamond
producers, the second-largest cocoa
producer, and home to Lake Volta, the
world’s largest artificial lake.
The economy has grown rapidly in
recent years. The main contibutors to
gross domestic product are services
(51%) and agriculture (28%).
The life insurance sector has grown
well, although individual life sales
form a small proportion of the
overall life insurance account.
Ghana’s middle class is growing fast
thanks to the country’s expanding
economy and political stability – and
the potential for the development of
many insurance industry sectors is
growing along with it.
GHANA
Accra
THINKING AHEAD
SPONSORSHIPS
Creating a Sanlam state of mind
Why do we choose to support the sponsorship projects we do?
Elena Meyer explains the reasoning and process behind our choices.
A few highlights from our 2013 sponsorships
‘W
Sanlam/
Business
Partners
Entrepreneur
of the Year®
True to the brand
As is the case with all divisions of the Sanlam Group, the
company’s values inform much of the decision-making
process when choosing a sponsorship project. ‘We have
an automatic brand fit and should be authentic in our
execution and relationship with those we engage with.
If we have a brand promise, we need to walk it and get
the audience to experience that promise in every element
through which they experience our brand,’ Elena says.
‘If we have to choose between two very similar properties,
we’ll choose the one that speaks more strongly to Sanlam’s
core values. We’d rather step away from partners if we believe
they don’t have the same values and vision we do.’
Connect with target markets
How much each segment spends on sponsorship will
ideally be a reflection of the focus areas of the Group’s
business strategy.
‘Although Sanlam has a significant focus on the
lower end of the market, our brand also has to speak
to our investment capabilities in the higher end of the
market – all in pursuit of changing people’s perception
of Sanlam being a life insurer only to one of it being a
fully fledged financial services company,’ Elena explains.
For this reason, two thirds of Sanlam’s sponsorship
budget is focused on the lower and mass middle market,
which is evident through sponsorships such as the popular
Takalani Sesame and the Sanlam Kay Motsepe Schools
Cup. ‘At the higher end of the market, sponsoring Sanlam
Investments’ Food Wine Design Fair is geared towards
strategically growing our presence in the affluent market
within Gauteng. A brand transformation objective is also
key in our sponsorship of this property.’
Although it pursues new markets Sanlam recognises
the importance of holding on to its existing ones.
‘Sponsoring the Woordfees, a cultural festival, engages
Sanlam’s traditional markets but also delivers a younger
market – one that’s important for the future sustainability
of Sanlam,’ Elena explains.
‘In terms of emerging markets, we’ve seen opportunities
through Takalani Sesame to grow outside South Africa’s
borders. Namibia has been a great partner in our Sanlam
Cancer Challenge, and recently Kenya and Sanlam UK have
come on board. We’re also in talks to possibly extend our
Sanlam/Business Partners Entrepreneur of the Year® to our
partners in Namibia and Kenya in 2015.’
Keep it simple
Sanlam, unlike other major corporations, isn’t typically
a ‘big ticket’ sponsorship company – it isn’t inclined
to sponsor only high-profile ventures. For Sanlam,
sponsorship is strategically mapped out to meet the
business’ needs and enhance the brand.
‘We’ll continue to simplify our properties wherever
possible and increase our impact with those we keep,’
Elena says. ‘Unexpected, out-of-the-box properties, unique
yet fitting the brand, will start to be more significant in our
thinking and choice of sponsorships.’
What do
we ask?
Serious about
amateur golf
When evaluating sponsorships, the criteria
are weighted to ensure the evaluation
process is objective.
Factors we consider are:
• image association • target market delivery
• awareness potential • leverage potential
• continuity • media coverage / interest
• risk • corporate social investment element
• business impact • level of control • budget
• exclusivity in financial services • timing
Sanlam has sponsored amateur golf for the
past 22 years. Currently the sponsorships
comprise the South African Amateur Golf
Championships, Glacier Junior Series and
the Sanlam Cancer Challenge (SCC).
No child’s play
Glacier by Sanlam chose to focus on the
youth with the Glacier Junior Series. A
South African golfing legend or a prominent
This annual competition works
towards fostering an entrepreneurial
culture and recognises excellence in
entrepreneurship. It has become a
key event for South Africa’s small and
medium-sized enterprises (SMEs). The
competition offered prizes worth more
than R1,3 million (including cash prizes
to the value of R300 000).
Takalani Sesame
Reached 10 164 households, 250 schools and 14 581 learners
8 691 new membership applications received for the Takalani
Sesame Club
More than R900 000 worth of PR exposure
TV and radio elements deliver an average audience of
20 million per year
Has played an integral part in Sanlam Sky Solutions’ annual
roadshow, where Takalani Sesame is used as a key drawcard
– 145 000 people attented the event in 2013
Sanlam
Sing ’it
970 856 consumers
reached via social media
2 174 entries received and 1 665
votes submitted
2 482 song downloads
50 000 followers on Facebook –
this database has successfully been
used by Sanlam Growth Market in its
marketing to graduates
More than R2 million worth of
PR exposure
Sanlam Cancer
Challenge (SCC)
More than R3,3 million raised to fight cancer
(R63 400 was raised by staff)
447 clubs and 36 387 golfers participated in 803
competitions
More than R9 million worth of PR exposure
Money raised in 2012 helped the Cancer Association of SA
(Cansa) in 2013 to:
• conduct 9 157 Pap smears, 10 136 clinical breast
examinations, 5 609 prostate-specific antigen tests
and 317 skin cancer examinations
• accommodate 2 600 patients at 11 Cansa care homes
leader within the golf industry with a
passion for promoting junior golf hosts each
series event.
The Sanlam/BMF Golf Clinics
Through a partnership with the Black
Management Forum (BMF), Sanlam
provided young black professionals
with basic golfing skills. In turn, we’ve
helped to influence the socio-economic
transformation of our society and have
given young professionals an opportunity
to network under the banner of golf and the
Sanlam brand.
IMAGES SUPPLIED
ith the right sponsorship we help
millions of South Africans become
aware of and experience the
Sanlam brand with a warm feeling’, says Elena
Meyer, Senior Manager: Sponsorships and
Promotions at Group Marketing.
‘With this mindset, our prioritised target markets
are primed and ready to engage with Sanlam
and to consider it their preferred financial services
company. It’s important to choose a sponsorship
Elena Meyer that’s able to achieve this commercial goal.’
Sanlam Kay Motsepe
Schools Cup (SKMSC)
10 years of bringing success to young soccer enthusiasts
2 600 schools participated
306 players involved in the national finals
More than R15 million worth of PR exposure
Many children have been signed to various Premier Soccer
League clubs – thanks to the Sanlam platform total prize
money of R3,4 million has been applied across 16 legacy
projects
Over the past four years R13,6 million has been paid out to
the winning schools in the form of legacy projects
The Sanlam
Investments
Food Wine
Design Fair
The Sanlam Investments Food Wine Design Fair has become a
premium lifestyle event in Gauteng. It’s now in its fifth year and
part of the investment cluster’s strategy to increase its market
share in Gauteng by creating awareness of SI’s business offering.
16 000 people attended this three-day event in 2013
More than 100 exhibitors showcased their goods and services
– the exhibitors experienced an average of 40% growth in
their annual turnover due to this exposure
34 000 followers in response to a social media campaign run
through the year
‘This sponsorship, and others, is authentic in our
relationship with the end consumer,’ Elena says. ‘They allow
us to become part of their life stories. This is evidence of good
return on objectives.’
THINKING AHEAD
THINKING AHEAD
PERSONAL SKILLS
FINANCIAL SKILLS
How to
survive
the
economic
pinch
Holding
meetings
that matter
Meetings can take up a lot of time. Make sure meetings are
efficient and effective by following these simple steps.
H
Sonja Dekker
Before the meeting
Order, order!
Clock watch: For greater productivity, it’s crucial to start the meeting
on time. Don’t wait for latecomers. Do this a few times and you’ll soon
develop a reputation for promptness.
Follow up
Finally, prepare the meeting summary and forward it to all participants
and other stakeholders.
‘The meeting summary is a record of what was accomplished and
who’s responsible for what as the team moves forward,’ Sonja says.
This is a crucial part of effective meetings that is often overlooked.
You need a written record of what transpired, along with a list of actions
that named individuals have agreed to perform.
Take 10
TOP
TIP
A day of back-to-back meetings can be overwhelming, and long meetings
are usually the antithesis of good meetings. What can be done in 60 minutes
can most likely be done in 50, so send meeting requests that end 10 minutes
before the hour. Fifty-minute meetings allow for a quick break to check emails or
at least give everyone time to get to their next meeting across the building.
Drawing up a budget
he cost of living is increasing at a rate
most of us find difficult to keep up
with. And to make matters worse,
the interest rate, fuel and electricity prices are
expected to increase further.
‘We’ve become accustomed to a low
interest rate environment and it’s been
a while since we’ve seen increasing
interest. We’ll now have to get used
to increasing interest rates again,’
says Karin Muller, Head: Sanlam
Karin Muller
Growth Market Solutions.
Increases such as in the example below will
weigh heavily on your pocket. But don’t despair
– you can tackle these expenses head on. The
first crucial step is to draw up a budget.
What you do before a meeting largely determines whether or not
you’ll accomplish your intended goals. Your first task is to create a
meeting plan.
Create a meeting plan: Begin with the goal in mind. This means that
as the meeting organiser, you must identify the clear purpose of the
meeting. To help you determine what your meeting objective is, Sonja
advises you to complete this sentence: ‘At the close of the meeting,
I want the group to ... ’
Your meeting’s purpose will then inform the focus, agenda and
required participants.
Who’s who?: ‘Now ask yourself, “Who really needs to be at this
meeting? Could some of the proposed attendees just need a brief email
summary or a quick phone call afterwards?”’ Sonja says. ‘Don’t invite
people who don’t have anything to contribute.’
Read ahead: How many meetings have you attended that started
with the facilitator handing out stacks of documents? Meetings like this
typically tend to deteriorate into a group read-along.
‘Make meetings more productive by providing the necessary reading
material in advance, including the agenda,’ Sonja says. Supplying reading
material 48 hours beforehand means people can review the content and
will therefore be better prepared for your meeting.
T
Share your opinion: Unfortunately at many meetings only a few people
participate. When you attend a meeting you need to contribute – whether
by asking questions, sharing insights or offering to take on tasks.
Direct proceedings: Here’s what to keep in mind during the meeting
to ensure maximum productivity:
If some people are dominating the conversation, make a point of
asking others for their ideas.
At the end of each agenda item, quickly summarise what was said
and ask the team to confirm that it’s a fair summary.
Ensure the meeting doesn’t veer off topic. Be firm about reining in
wafflers.
List all tasks that are generated at the meeting. Make a note of who’s
assigned to do what and by when.
At the close of the meeting, summarise the next steps and tell
everyone you’ll be sending out a meeting summary.
ave you ever left a meeting uncertain of what the
purpose or outcome was? A productive meeting
is about more than the time and place; it
needs structure and order. Sonja Dekker, Training and
Development Consultant: Sanlam Distribution Academy,
has a few guidelines for the best results.
Have the recent interest rate hikes and staggering rise in fuel prices caused your disposable
income to shrink? Don’t despair – with careful planning you can beat rising costs.
WHAT’S YOUR INCOME? Make a list of all your
sources of income, necessary expenses and
debt. Use your net income – the after-tax
salary amount.
WHAT ARE YOUR EXPENSES? Now make a list
of everything else you spend your money on,
from lunches to cosmetics. ‘Don’t forget to
add quarterly or yearly expenses. You have
to factor these into your monthly expense list
as well to be financially prepared for them,’
Karin says. (Tip: divide annual expenses by 12
for monthly costs.)
DEDUCT YOUR TOTAL EXPENSES FROM YOUR
TOTAL INCOME. The golden rule for any budget
You have
a home loan of
R500 000
(over 20 years)
At 10% it
increases to
R4 825,11
a month
At a 9%
lending rate you
pay R4 498,63
a month
YOU PAY:
R326,48 more
a month
KEEP YOUR LONG-TERM FINANCIAL PLAN IN
MIND. If you focus only on your immediate
needs you’ll compromise your financial health
in the long run. Speak to a financial adviser to
analyse your long-term needs. If they become
part of your short-term plan you’ll be building
a strong platform for years to come.
GET RID OF DEBT. No matter how intimidating
it seems, tackling your debt makes a significant
difference to the overall load. This is especially
important because the cost of servicing your
debt increases. Pay off as much as you can as
soon as possible. Meet all your debt obligations,
but focus on getting rid of those with the
highest interest rate first – typically debt on
your credit card and store accounts.
is that your expenses should be less than your
income. Essential expenses must be paid first.
UNDERSTAND THE DIFFERENCE BETWEEN GOOD
Take a close look at your expenses – what do
DEBT AND BAD DEBT. Good debt is when you
you spend on necessities and how much do you borrow money to invest in an asset (such as
blow on luxuries? Try to cut
a house) that grows in value.
down on wasteful spending.
Bad debt is using your credit
A budget is like a card to pay for daily expenses.
‘You have to compromise,
diet: if you make If, for example, you buy
but don’t be unrealistic,’
Karin advises. ‘The moment
unrealistic plans, you’re groceries on credit you’ll be
you strip away all enjoyment bound to break them.
paying off last night’s dinner
you’ll most certainly fail. Allow
KARIN MULLER six months from now. Try to
for some expenses such as
use credit sparingly.
a takeaway meal or movie. A budget is like
PRIORITISE YOUR SAVINGS. Try to build an
a diet: if you make unrealistic plans, you’re
emergency fund. This money can then be used
bound to break them.’
for an unexpected crisis. If you have a nest egg,
Make your budget planning easier by using
you don’t have to fall back on credit.
online tools.
‘Finally, check your progress. It’s great to see
Karin has the following advice on how to
what you’ve achieved – it keeps you on track
manage your budget:
and motivated,’ Karin says.
THINKING AHEAD
RETIREMENT
‘The sooner you establish how much income
you want or need in retirement, what your
retirement savings are now and when you
want to retire, the better chance you’ll have of
putting in place a plan to achieve your desired
retirement goals,’ Chrisna says.
Take time to plan, because none of us want
to have to:
• work longer than anticipated
• live off an almost non-existent
government pension
• be supported by our children.
Save
now,
take it
easy
later
What to do
Take time at least once a year to ensure your
planning for retirement and possible death or
disability is aligned to your and your family’s
needs.
Follow these steps:
Step 1 Study your fund benefit statement and
make sure you understand it. If not, ask
a financial adviser or seek help.
Step 2 Draw up a proper budget of your
expenses after retirement. Take into
account:
medical costs, including the stronger
possibility of major medical procedures
and escalation in your medical aid
premium
cost of frail care
home maintenance
rates and taxes
capital expenditure on items such
as cars and appliances.
Step 3 Discuss the benefit statement with
your partner and financial adviser
and do proper financial planning
for retirement. Take into account:
all your savings for retirement
your need for death cover
liabilities you may have such as
a mortgage bond
your spouse’s financial position
any dependants you may have.
Step 4 Determine your shortfall at retirement
by using the member service tool at
www.retirementfundweb.co.za.
Step 5 Put an action plan in place to fund any
shortcomings in retirement or life cover
you may have found.
We all know we’ll retire ‘one day’. Take
time to review your plans just once
a year, to make sure you do it in style.
W
hen last did you review your
retirement fund options? If
you’re like 90% of us, you
haven’t looked at your plans since joining the
company. Sanlam’s research also shows that
we tend to think of retirement as a very distant
event, and on average seek advice only 12 years
before we actually retire.
You should develop a retirement
strategy that fits into your overall
financial plan, says Chrisna Swart, Fund
Secretary: Sanlam Staff Umbrella
Pension and Provident Funds (SSUF).
This will help you understand how
Chrisna Swart certain actions or inactions during your
employable years will affect your financial wellbeing at retirement.
Follow these three simple steps to
save for retirement:
Step 1 Increase your fund contributions
to the maximum amount you can
afford.
Step 2 Make sure your selected investment
portfolios match your risk appetite
and the number of years left until you
retire.
Step 3 Don’t cash in your retirement savings
when you change jobs.
Remember the following
DATE/EVENT
WHAT CAN YOU DO?
End of January
– special bonus flex
Decide what percentage of your bonus should be pensionable
(used to calculate your contributions to the fund to increase your
retirement savings).
End of April – annual flex
Increase or reduce your death cover under the fund.
Reduce your group life cover.
Take out spouse cover or cancel your existing spouse cover.
Increase or reduce your fund contributions.
September
The annual benefit statements will be available – make sure your
financial planning is up to date.
When you get married or
a child is born
Within three months of the event, you have the option to increase
the death cover on your own life.
At termination of service
Consult your financial adviser about the preservation of your fund
benefit.
At any stage
You can change your selection of investment portfolios at any
stage. Only one change per calendar year will be free of charge.
OUT
AND
ABOUT
OUT AND ABOUT
1
2
1
3
4
5
SPF
Conference
2
3
The SPF Senior Managers Conference was
held at the African Pride Crystal Towers
Hotel in Century City, Cape Town.
4
Festival fans flock
to Woordfees
1 From left are Ainsley Moos, Karin Muller,
Jaco Coetzee, Zelda Knoetze and Hayley Kuhn.
Stellenbosch University’s Woordfees, a firm favourite on the arts events calendar, celebrated
its 15th year in March. Sanlam’s sponsorship has boosted the event and hundreds of visitors
enjoyed the variety of performances at the Sanlam Music Festival.
2 Thomas Meisinger, Bernard Manyatshe and
Pascal Lugisani. 3 Annarita Wagner and Lizelle
Nel. 4 Claudia Smith and Gavin Downard.
5 Christo Bester, Kenneth Diamond, Nydia
Hoply and Jaco Louw. 6 Dorea and Francois
6
Ozrovech, Colin de Kock and Barry Leo.
1 Sanlam’s Feesflits was once again a hit with festivalgoers 2 Kobus Swart, Senior RGM: SFA Western
Cape, with his wife, Leonie, and daughter Shylah. 3 Frank Louw, Sponsorship Manager: Sanlam Group
Marketing (left), and Hendrik Pfaff. 4 From left are Ron and Bev van Nijkerk, Segment Specialist: SPF,
and Helen Barge. 5 Sanlam’s Feesflits was once again a hit with festivalgoers and the selfies were
uploaded onto the Sanlam Feesflits Facebook page.
5
1
Crystal
clear
winners
Wouter Dercksen and Justin
Greeley were the joint winners
of the Sanlam Investments (SI)
Living the Values Awards. The
awards, now in their sixth year,
recognise employees who live
the SI cluster’s values of passion,
transparency and innovation.
1
A dramatic
moment
2
1 Johan van der Merwe, CEO: SI (centre), presents the 2013 floating trophy
of amethyst crystal to joint winners Wouter Dercksen, Executive: Strategic
Client Relations at Sanlam Employee Benefits (left), and Justin Greeley, Senior
Investment Analyst: Sanlam International Investments. 2 Bongiwe Beja, Trainee
Fund Manger: SI, was awarded a R10 000 unit trust by Johan.
Sanlam and RSG hosted a handover
ceremony on 14 March to celebrate the
winners of the Sanlam and RSG Radio
Playwriting Competition for 2013.
From left are Frank Louw, Sponsorship Manager:
Sanlam Group Marketing; Marcel van Heerden,
the winning writer who was awarded the grand
prize of R22 000; and Kobus Burger, Executive
Producer: RSG Drama.
Jazzing it up
2
3
Sanlam hosted various stakeholders at its
hospitality suite at The Westin hotel during the
Cape Town International Jazz Festival on 28 and 29
March. This internationally renowned event affords
an opportunity to engage with key stakeholders,
clients and trustees in an enjoyable, lively setting.
1 From left are Temba Mvusi, Bongiwe Mvusi,
Sindi Lingela-Shayi, McCullough Williams
and Cecil Callahan. 2 Desmond Lockey and
Michelle Pienaar. 3 Lungisa Mbuli, Thuli Mpshe,
Keneiloe Selamolela and Pule Mpshe.
THE
BACK
PAGE
IN THE
OF
INSIDE SANLAM
8
YOUTH
THE
ISSUE
SANLAM’S
GENERATION Y
SPEAKS
©RANDY GLASBERGEN / GLASBERGEN.COM
‘Now that we’ve embraced our diversity,
celebrated our pioneering spirit, made a fresh
commitment to excellence and given something
back to the community, does anyone remember
what we do to make money?’
4
7
Thelma’s
blog spot
6
2
4
Sanlam as an integral part of bWELL.
My programme for Broad-Based Botox
Empowered Evas will remove all discrimination
against women, ensure those previously
marginalised will become part of the dating
scene and thereby alleviate spinsterhood.
But back to Ubuntu-Botho – I have
a confession to make. Thelma swoons over our
Deputy Chairman and charismatic entrepreneur
par excellence Patrice Motsepe. I’ve even
dumped Pirates to support his soccer team,
Mamelodi Sundowns. Phew. What a man. Or,
as we say here in Pretoria, ‘Patrice, jy slaan my
awesome weg!’
On another breathtaking note – I’m
sure all will agree that one can only applaud
Sanlam’s consistent achievements over the past
two decades. Our regular great operational
results, the success of Ubuntu-Botho, our EE
performances and general transformation
initiatives really tell the story of a solid Sanlam
with a very solid brand.
But would you believe a colleague
recently suggested that with all this success of
becoming a true company for all, it might be
time we made some changes to our brand …
Such silliness. I’d rather greet you
colleagues with my new Sanlam salute, bWELL
no fine!
2
3
8
6
8
soccer
2
9
8
1
Developing
tomorrow’s
6
7
6
SANLAM
KAY MOTSEPE
SCHOOLS CUP
9
5
4
1
1
2
3
SUDOKU Find the solution online at insidesanlam.co.za.
Easy
8
+12
/4
-2
x7
+13
/2
+6
x2
-12
?
25%
+16
/5
-2
x12
-6
/7
+12
?
20%
?
Moderate
64 -8
of this
Advanced
23 -15
Square
it
50%
of this
+3
x3
80%
of this
/2
+3
Start on the left with the given number and work your way across,
following the instructions in each cell. Each puzzle should be
completed in about 30 seconds. (Answers on the right.)
of this
MIND
GYM
WORD Izikhulu The word means ‘very important people’
OF THEand refers to a competition for Sanlam Sky Solutions’
MONTH top achievers within Agency Distribution. They’re
rewarded in the Club Izikhulu contest.
IMAGE GETTYIMAGES.COM CARTOON RANDY GLASBERGEN
MIND GYM ANSWERS EASY: 34 MODERATE: 18 ADVANCED: 9
M
y dear fellow 70% overweight
colleagues, other under-/
overachievers, actuaries –
have you ever wondered why our HR
colleagues continue to visualise our obesity in
their bWELL communication with pie charts?
Why, of all things, the association with pies?
I mean, it’s as insensitive as illustrating
the ambience on the fifth floor of Head Office
with a yellow smiley face! Or the SIM Exco with
a white dove! Thelma earnestly suggests HR
show some insight and compassion and use
bar charts (until that association also becomes
a bWELL issue) to illustrate their anti-tubby
messages.
And colleagues, hot from the grapevine is
the news that staff retention in Sanlam Head
Office is about to change into staff detention.
Yes, an informed Thelma can disclose that
Head Office staff will soon be locked behind an
external wall.
Because of recent unwelcome spilling and
presentations at the front door, we are soon
to have a control gate, Checkpoint Julius, in
our own Great Wall of Sanlam, which is being
erected to ‘flush’ unwelcome deposits, in
a manner of speaking, of course.
A question – is B-BBEE still relevant for
Sanlam now that the Ubuntu-Botho initiative has
matured so successfully? If not, Thelma is excited
to introduce her new B-BBEE programme for
NEXT ISSUE
stars
LEARN ABOUT
malawi
– THE AFRICAN
COUNTRY WITH
THE YOUNGEST
POPULATION
Young professionals unite
at Sanlam Investments
JUMP-START YOUR
FINANCIAL WELL-BEING
AND SO MUCH
MORE!
Peter Christians, Neil Cyster
and Heinrich Noble
ON TIME CHAUFFEURS
is an inspiring story
about how Sanlam gave
these former employees
the wheel. Read the full
story on page 16.

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