Weekly Roll: Who’s responsibility is it?

The blame game exists in every sphere of our lives, with friends, family and even in the workplace. We blame people for the wrong things we do and any other thing that goes wrong in our lives. Whether young or old, we do play the blame game.

Yes, this is a professional poll and our focus is all on investment. The need for investment is an all-round thing, for all people, from CEO to Gardener, even the Board Chairman and President need to consider investment during their careers. Simply put, investment is all about growing your money, whether short or long term it can be achieved depending on your goals. Our weekly poll had it’s focus more towards whether it is the responsibility of the employer to teach employees about investment.

The various service providers in the investment field have a marketing mandate that they fulfill in different ways. Others use relevant events to position their companies and sell their services to the attendants while others rely on word of mouth. Some of these players, however, partner with different employers and have targeted presentations with their employees teaching them about their product offerings and the benefits that can come out of them.

We decided to engage with an employer representative, Keletso, HR Manager in the Financial Services Sector on what her thoughts and views are as an employer representative. Most often, employers have a role to play in this and they do it through pension contributions together with the employee, said Keletso and this is true. Most employers, especially larger employers, are able to contribute pension for the employee and have the employee also contribute towards their pension. Keletso also said that “this is because, as employers, we know there will come a time where you won’t be working for us as an employee or working at all”, and this is where employers play a part in encouraging and supporting investment with their employees.

With regards to teaching employees about investments, Keletso said it is not the employers responsibility but her current employer as well her former, have money management initiatives that remind their employees of the importance of prudent management of their personal finances. She also cited an example of an activity they once undertook that helped employees prioritise their budget items which hopefully had them consider investing with their surplus funds.

All in all, it is clear that the responsibility isn’t on the employer alone but on both parties. Employers do not tell their employees what to do with their money, but only encourage good use of it. As an employee, it’s our responsibility to take up personal investment and prepare yourself for the future.