BEYOND THE HR CAREER WHAT ARE THE … the HR...HR Practitioners can’t Calculate ROI of training programs Strategic readiness of their organization Prepare for their own retirement

Trends & Opportunities

BEYOND THE HR CAREER…

…WHAT ARE THE POSSIBILITIES?

HR Practitioners can’tCalculate ROI of training programs

Strategic readiness of their organization

Prepare for their own retirement let alone for others

Speak and articulate their contribution to the top and bottom line of the business

Talk productivity let alone incorporating it into collective bargaining

Manage Strategy Execution

The Status Quo

What seems to always happen

What is currently obtaining

The reality on the ground

The ideal What it should be

Few HR practitioners

become CEOs

Current HR practitioners do

not truly understand HR

HR Practitioners

do not have an appreciation of contemporary

HR Issues

Lack of appreciation of strategic HRM

linked to Business Value

Addition

Many retirees are depending or forced to work for their living.

Are still dependent

54%

Have died36%

Are still working5%

Are independent4% Are wealthy

1%

People are the primary source of competitive advantage but…

High performing organizations leverage on people but typical

HRMs do not.

Human Resources Studies have become

“everyone’s qualification”

HR practitioners have no impact on macro-

economic/government platforms

Default to consultancy and fail

1%

Start non-HR consultancy

businesses and fail1%

Suffering and still looking for jobs

70%

Either die prematually or are

terminally sick28%

What are your retirement plans as an HR Practitioner?

Real Estate

(11%)

Land acquisition

Building properties

Construction services

Consultancy

(37%)

Arbitration

training

HR

Labour officer

Events management

(12%)

Décor

Catering

Cake making

Flower arrangements

Lecturing

(24%)

Ownership of private colleges

Part time lecturing

Farming

(16%)

Cattle ranching

Bee keeping

Poultry projects

Ploughing

What are you doing to realise those plans?

0% 5% 10% 15% 20%

Build up inventory

Savings through joining of life/retirement…

Nothing due to unavailability of funds

Greater number of financial dependents

Lack of incentives from the employer

Suppression from current commitments

Opening/registering companies

Studing towards earning PHDs

Procurement of farms

Nothing because of poor health

10%

20%

13%

5%

3%

2%

11%

19%

4%

13%

0% 5% 10% 15% 20% 25% 30%

Events management

Lecturing

Farming

HR Consultancy (Training & Arbitration)

Retailing (Restaurants, beer halls, butchery,bakery)

5%

25%

25%

29%

16%

ASPECTS WHICH BARE EMPLOYEES FROM MAKING

RETIREMENT SAVINGS

Lack of sufficient knowledge on

retirement savings

Poor remuneration

Suppression from current commitments

Economic instability rendering them

susceptible to high risk

Lack of incentives from the employer

Greater number of financial dependents

High income tax rates absorbing a

significant portion of their income

Unattractive interest rates offered by banks and other

financial institutions

To do What is will yield

Human Resources Training Institutions to

review training curricular to improve

training to focus on contributing to

business success and the practice of

Strategic HRM

This will develop more HR practitioners to

become CEOs, MDs, Directors, Board

members, etc…

Entrepreneurial Acumen • More Entrepreneurs

• Well prepared for retirement

• Develop viable organizations &

institutions

Appreciation of execution as a skill People with international linkages (Joint

ventures, partnerships, shareholding)

Retirement is the period of life when you are no longer working

• When its unplanned and involuntary

• When the wage or salary is the only means of income

• When one’s home life is unhappy and work provided an escape

• When there is pre-existing bad health.

According to a Harvard study, it is worrying underthe following circumstances

Everyone has to retire at some point from their working lives.

One should have a plan of how you will live your life to the fullest.

We must save systematically to enjoy our retired life.

Research shows that most working people do not plan their savings towards retirement needs.

A financially secure retirement requires more than understanding the importance of planning.

It needs the RIGHT RETIREMENT PLAN made up of:-

The Right ingredients The right amountsGiven the right amount

of time to grow

Three Basic Ingredients

Government sponsored programs (-/+20%)

Employer sponsored programs (+/- 40%)

Individual sponsored programs (+/- 40%)

How much money will you need after retirement?

• According to experts, you will need between 70% & 90% of your current income, adjusted

for inflation to live confortably after ritirement

20 - 30 year olds

Debt for house

Debt first time

goods

Debt for car

Emergency fund

Retirement saving

Day to day life

30 to 40 year olds

Debt for house

Debt first time goods

Debt for car

Emergency fund

Retirement saving

Day to day life

40 to 50 year olds

Debt for house

Other debt

Debt for car

Emergency fund

Retirement saving

Day to day life

Other investments

50 to 60 year olds

Debt for house

Other debt

Debt for car

Emergency fund

Retirement saving

Day to day life

Other investments

THE RIVER OF LIFE

1. Paying off a house completely!

• IDEAL: in less than 20 years, and before you are 55.

2. Start saving toward retirement!

• IDEAL: by 25 years of age.

3.Having an amount equal to four-times your annual salary saved safely for retirement!

• IDEAL: by 40.

4. Having an amount equal to six-times your annual salary saved safely for retirement!

• IDEAL: by 50.

5. Having an amount equal to, or more than, ten-times your annual salary saved safely for retirement!

• IDEAL: by retirement i.e. 60/65.

6. Have an separate Emergency Fund equal to six-times your monthly salary!

• IDEAL: by 35.

7. Being Debt-free?!

• IDEAL: as early as possible but certainly by 55.

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