Many FSPs have been faced with new challenges due to the national lockdown and COVID-19 pandemic. In our newsletter series – Driving Success in Challenging Times – we provide some suggestions on how to deal with unforeseen challenges. Although we might not have all the answers, we are willing to work with you to, where possible suggest solutions.
The announcement of South Africa’s 21-day lockdown due to the COVID-19 pandemic brought about many new challenges for FSPs. In this article, we provide you with tips and strategies on how to lead employees and manage client relationships when faced with unexpected challenges.
For guidance on how to keep your FSP sustainable, click here.
Your business’ strategies and action plans should accommodate major changes and trends. This article provides you with practical steps on how to revisit your business plan and client value proposition should you be faced with unfamiliar challenges.
Click here to find out if you need to modify your business plan.
When faced with crises it is important to respond effectively to ensure your business is secure for the long term. This article focuses on practical tips on how to take the lead and use your existing resources to build for the future. The tips provided will help you capitalise on operational efficiency, positively influence client retention in the present and lay the foundation for future business growth.
Click here to read more.
Businesses often adjust operations to prevail through hard times. This article provides suggestions on how you can plan for certainty, what needs to be done from a strategic and day-to-day decision making point of view to create certainty for yourself, employees and clients, and as a result, change the ending by preserving your business for the future.
To read more about planning effectively, click here.
Without having the necessary security measures in place to combat cybercrime, FSPs are increasingly exposed to various risks resulting from cybercrime. It is important to familiarise yourself, your employees, and clients with the latest cybercrime techniques to minimise risk. This article looks at practical tips to limit your business’ exposure to cybercrime.
Click here to read about the measures you can take to avoid becoming a victim of cybercrime.
Without effective systems and processes in place, businesses may find themselves having little to no time to spend on activities that will grow and sustain the business in future. This article looks at practical tips on how to operate more efficiently when working remotely or in the office.
To read more about how to adapt your business model to embrace the new ‘virtual reality’, click here.
The enforcement of lockdown due to the spread of COVID-19 prevented most businesses from operating as usual from their work premises, and businesses had to quickly transition to working remotely. This article addresses two of five main concerns you may encounter when working remotely, namely managing operational risks and communication ability.
Click here to read more on how you can equip yourself and employees when operating remotely.
The risk of losing client information and the business’ intellectual property increases significantly when employees work remotely. This article looks at ways to address a third concern of five main concerns you may encounter when working remotely, namely data and equipment security.
To read more about how you can prevent a data breach from occurring, click here.
Research has found that COVID-19 lockdown conditions have impacted the mental health of many South Africans. At the same time, FSPs are concerned about KI Succession which is linked to health concerns such as COVID-19. This article looks at the two remaining concerns FSPs may encounter when working remotely, namely KI Succession linked to health concerns and mental health.
Click here to read about the importance of succession planning and checking in with your employees in challenging times.
COVID-19 has impacted the way businesses communicate with their clients. This article looks at how businesses are now required to adapt their means of communication and consider both virtual and face-to-face client interactions. It also highlights the importance of engaging in non-financial related conversations to foster strong client relationships which could lead to client retention and growth.
Click here to read more about how you can establish client engagement and sustain client relationships through virtual or face-to-face conversations.
The impact of COVID-19 has resulted in remote working. This has led to an increase in data breaches as we all rely more on the internet to access our data. In this article, we consider the measures that can be taken to minimise the possibly of a data breach in your business with proper data privacy management. Managing data privacy is associated with POPI compliance and good business practices which when complied with could lead to business sustainability and profitable opportunities.
To read more about how you can protect your client’s personal information, click here.
The deadline to comply with the POPI Act is 1 July 2021 and non-compliance with this deadline could result in a fine or imprisonment for businesses and/or individuals. This may have an impact on client retention and growth as well as business profitability and sustainability.
Click here to look at the 10 steps we recommend you take on your journey to becoming POPI compliant by the deadline.
Data breaches are becoming more prevalent and may lead to reputational damage and incurred costs. In this article, we look at how easily data breaches can occur, and which Data Privacy Management practices can be implemented to protect clients’ personal information. We also focus on PI Cover as a way to protect your business in the event of a data breach or cyberattack.
Click here to read more on the importance of Data Privacy Management practices in your business.
The process of POPI Act compliance is comprehensive and the aim is to protect client data. In this article, we provide you with a list of the types of activities you should consider implementing. These activities can be used as a reference to measure your progress in terms of POPI Act compliance.
To view the list of activities you should consider when moving toward POPI compliance, click here.
These issues are available on the Masthead Learning Centre to earn CPD hours, click here to log in.