The organisations that are thriving in 2022 are the ones that have mastered the agility to respond to changes in the environment and craft relevant and compelling digitally enabling customer propositions.
Through the Fund’s deliberate and accelerated digitisation strategy and upgraded IT infrastructure, it is well placed to continue thriving in response to the above forces and the newfound freedom in its ability to innovate around multiple products relevant to the East African market. The NSSF Amendment Act has opened a plethora of possibilities for innovation, that we believe will drastically enhance the lives of our current and future customers as we utilise our key competencies to exploit the opportunities.
FY2021/22 was uniquely challenging for the Fund given the operating environment highlighted above. The evolving and challenging business environment coupled with unprecedented regulatory changes necessitated a reorientation of the Fund’s strategic direction to ensure business continuity and sustainability. This was in part achieved through undertaking several initiatives as follows:
During the year, the Fund launched the Pension Administration System, dubbed OctoPAS. It was acquired to fill major service delivery gaps identified in the Fund’s core business processes that were not adhering to key principles of customer-centric service delivery.
This is to align with new business needs due to changes brought about by the NSSF Amendment Act 2022.
Aimed at putting in place an agile structure that is responsive to the ever-evolving external environment and business needs.
The Fund partnered with Deloitte Uganda to carry out the redesign exercise. It involved detailed discussions with all the stakeholders, i.e., the Board, Exco, and staff, to obtain their input and ideas on the optimal structure for the Fund. This enabled alignment and buy-in for all the relevant stakeholders. The redesign was concluded with a new agile structure allowing the Fund to form squads to design and develop products and benefits to meet member demands. In addition, the structure eliminated duplicated roles and created new roles for staff to take advantage of.
Major highlights from the redesign exercise include:
The proposed changes from the organisational redesign exercise will be implemented in the subsequent year. Updates regarding this exercise will be disclosed in subsequent reports.
A communication plan was put in place to update staff about the progress and implications of the change. Several engagements were held at various levels of the transition. These were done in the form of town halls involving all staff being addressed by the Managing Director with an emphasis on the three aspects below:
An assessment of the skills of the future was held, and three critical areas were identified to kick start the new business model: