Company: SABC Pension Fund
Company Description: SABC Pension Fund provides pension benefits to employees of the South African Broadcasting Corporation. It is managed by a Board of 10 Trustees and a CEO. The Fund has received numerous International Awards for Communication and Research. It provides pension benefits to 1,500 members and their dependents, and has 3,500 contributing members who will become pensioners. It has 5 full time employees.
Nomination Category: Corporate Communications, Investor Relations, & Public Relations Categories
Nomination Sub Category: Communications or PR Campaign of the Year - Issues Management
 Nomination Title: Sustaining Stakeholder Confidence During Times of Upheaval
- If you are providing written answers to the questions for this category, you must answer this first question: Specify the date on which this campaign or program was launched:
We have undertaken process driven stakeholder engagement and reputation management since 2014, driven by comprehensive and rigorous stakeholder perceptions and needs auditing. This has enabled us to sustain Fund reputation despite severe micro and macro environmental indicators. Activities reported on in this entry encompass activities during 2021 and 2022.
- Which will you submit for this nomination, a video of up to five (5) minutes in length about the nominated campaign or program, OR written answers to the questions for this category? CHOOSE ONE:
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers to the questions for this category, you must answer this second question: Describe the genesis of the nominated campaign or program: the reasons it was initiated, the challenges it was created to address, the problems it was developed to solve, etc. (up to 250 words):
Total 249 words used.
Although the SABC Pension Fund is a private Pension Fund and is independently governed by an elected Board of Trustees times have been difficult for our stakeholders (members, pensioners, trustees and employer Human Resource partners.) While the SABC Pension Fund is one of the top performing funds in the South African retirement industry, consistently yielding above average pensioner benefits, external influencers in the South African retirement environment and factors pertaining to the employer (the state owned South African Broadcasting Corporation) continue to exert a significant impact. In terms of the macro-environment, pending legislation with regard to retirement funds has aroused concern amongst stakeholders who have also had to face the uncertainty brought about by the Covid 19 pandemic.
Within the micro-environment, the employer has been the subject of a parliamentary enquiry into mismanagement and fiscal irresponsibility. 2021 saw retrenchment and early retirement of 20% of the workforce. Media coverage regarding the ongoing employer crisis continues to be widespread. Added to this, external socio-economic conditions and increasing crime in the country often leave stakeholders concerned about their future wellbeing and the security of their retirement savings. When issues with the employer first arose, SABC Pension Fund management prioritized the development of a sustainable stakeholder engagement process to regularly assess and tailor measurable engagement and reputation management strategy. This strategy has been research driven, and inclusive and is needs directed as well as being aimed at ensuring and sustaining Fund credibility and reputation, notably so over the past two turbulent years.
- If you are providing written answers to the questions for this category, you must answer this third question: Describe the development of the campaign or program: the planning process, the goal setting, the creative and media development, the scheduling, etc. (up to 250 words):
Total 245 words used.
Conceptualised and managed by the entrant, the CEO, the stakeholder engagement and reputation management process incorporates rigorous stakeholder perceptions and needs auditing, communication and engagement planning based on findings, implementation/intervention and measurement of the impacts of this intervention annually.
The Fund has used the services of the same research partner over the seven years of measurement and evaluation who is briefed to model, administer, analyse and extrapolate research data to encompass both best practices and situational indicators as well as to ensure comprehensive analysis and reporting across all demographic groups variables.
The primary goals of the annual stakeholder engagement and reputation management process have been to:
- Assess stakeholder perceptions as to Fund reputation, service, educational, information and communication needs both in the short term as well as for long range, sustainable intervention
- Track the broader socio-economic concerns of the member base in order to develop support where feasible and relevant
- Develop and implement sustainable intervention and engagement strategy based on research findings which will address stakeholder understanding, acumen in the retirement and space and confidence in a fluid and controversial environment
- Continuously assess the impacts of this intervention on stakeholder confidence and wellbeing, fund reputation and service ratings and modify engagement and messaging strategies accordingly
In terms of this strategy the stakeholder groupings include our 2850 members, 1356 pensioners and 52 employer Human Resource Practitioners who engage with members and the Management Board of the Fund ,each group having differing service, information and educational needs.
- If you are providing written answers to the questions for this category, you must answer this fourth question: Outline the activities and concrete results of this campaign or program since the beginning of 2019. Even if your initiative started before 2020, limit your response to activities and results since the beginning of 2020 only (up to 250 words):
Total 213 words used.
In 2021 we:-
- Conducted full stakeholder perceptions, engagement and service research amongst the four stakeholder groupings of members, pensioners, human resource practitioners and the Management of the Fund. (See Annexures A,B,C and D, executive summaries of research reports)
- Used these findings to align core and sustainable engagement, reputation management and education strategy
- Surfaced stakeholder issues and concerns with regard to the micro and the broader socio-economic environments (refer to specific batteries in research model)
- Dealt with these issues in:-
- Our newsletter
- On our website
- In Zoom forums (face-to-face forums such as out member and pensioner roadshows and Human Resource partner information sessions having been limited due to the pandemic)
- Personal communication from the desk of the Chief Executive Officer
In terms of the success of the reputation management process the findings in the 2022 Research reports (attached) speak for themselves. In summation in terms of Fund engagement and communication stakeholder ratings range from 77,70% (members) through 81,39% (HR partners) and 89,91% (pensioners) to 96,29% (trustees) and the overall reputational index remains high. (Members 76,41%, pensioners 94,85%, trustees (91,28%) and HR partners 91,28%.) Please refer to attached executive summaries of the research phase to see the comprehensive batteries contributing to these averages.
- You have the option to reference here any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 211 words used.
Appendix A - Media clippings reflecting the frantic socio- and economic environment the Pension Fund operates in, and the factors contributing to unease and uncertainty amopngst members, pensioners and other stakeholders, which stimulate the need for reassurance that their pension monies are safe
- Uncertainty at the employer, where retrenchments of 20% of the workforce has just taken place
- Financial and governance irregularities at the employer, involving the CEO, the Board, management, currently the subject matter of numerous court cases and immense media speculation
- Regulatory changes causing uncertainty as to the safety of pension monies
- Crime Statistics which are terrifying and on the rise
Appendix B - Communication to pensioners and members during the pandemic
Appendix C - the responses of pensioners and members to the communication, illustrating a positive outlook and relief
Appendix D - Bespoke Pensioner Calendar produced annually, compiled with photographic contributions from members and pensioners, to build a sense of belonging
Appendix E - Pension Fund Newsletter, indicating the level of information and honesty communicated to stakeholders
RESEARCH REPORTS INDICATING HIGH CONFIDENCE LEVELS
Appendix F - Research Report - Pensioners (Exec Summary)
Appendix G - Research Report - Members (Exec Summary)
Appendix H - Research Report - Human Resources
Appendix I - Research Report - Board of Trustees
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