RATIONALE
The growing sophistication and complexities of Nigeria’s socio-economic environment has made pre-retirement planning a key issue in corporate responsibility. When people leave paid employment, they must seek alternative means of living. For many, retirement represents a nightmare and a very sad experience. Only very few people look forward to retirement with expectation and excitement.
The reason is obvious; many Nigerians are accustomed to relative comfort during their working life and might not be able to keep the same level of living during retirement. Without effective planning and management of work life, retirees are likely to experience extreme difficulties later in life.
It therefore becomes imperative for organizations, in consonant with the Federal government’s policy of three (3) months pre-retirement leave that is supported with one month of preparatory training to put together a hands-on pre-retirement programme for their workforce before their final exit. The overall objective is to change their orientation and sign-post them into new and hopefully rewarding venture that will lead them into a more fulfilling retirement life.
OBJECTIVES/LEARNING OUTCOME
At the end of the training, participants will be able to:
- Examine the concept and processes of retirement;
- Highlight the importance of relationship management and networking;
- Prepare personal financial plan;
- Apply time management for personal effectiveness;
- adapt a suitable health and wellness programme; and
- Identify post-retirement options and opportunities.
PROGRAMME OUTLINE
- Perspectives on Retirement
- Relationship management and networking
- Personal financial planning
- Pension Fund Management
- Developing a Retirement Budget and Investment Plan
- Time Management and Personal Effectiveness
- Entrepreneurship and Business Management
- Business ideas and Investment Opportunities Guidance
- Field Visit/ Attachment to Business coach for guidance
- Business Plan Preparation, Evaluation and Presentation
DELIVERY METHODOLOGY
Generic classroom training will be offered to all trainees. Thereafter, the class will be divided into groups so as to reflect the levels and business interest of the different groups.
Delivery Methods to be used will include: Lecture, simulation, discussions, industrial visits and interaction with a business coach appropriate to a trainee’s business interest. Audio-visual aids will be used to reinforce these teaching/learning methods.
Given the environmental reality of NDIC, as the workshop snowballs into the segment that deals with “Business ideas and Investment Opportunities Guidance”, there shall be different groups for various entrepreneurial activities. These will include:
- Agriculture and Agro-Allied Ventures
- Educational and Management Consulting
- Portfolio Management
- Estate Management
- Hospitality Management
TARGET GROUP
Executives, senior officers and junior staff, preparing for retirement and all who have interest in managing retirement in an entrepreneurial and rewarding manner.
DELIVERY MODALITY:
The programme will run in two different classes. Class A will include senior and professional staff of the Organisation, while class B will include junior staff, security , drivers, sanitary operatives etc. Please Note that Client will apply its insider discretions in allocating staff to appropriate class.
Additionally, in implementing the programme delivery strategy, the consultant will take into full account , the corporate status, intellectual capacity and financial capacity of the different classes in its interventions and recommendations .
MODE OF ASSESSMENT FOR CERTIFICATION: 100% attendance/active participation in field works/report from business coach.
DURATION: 4 weeks (Two weeks of classroom work with both training consultants and practicing entrepreneurs and two weeks of industrial visit/attachment within this period and on the basis of their field experiences , Trainees are expected to produce a business / feasibility report under the guidance of their respective business coaches .
We envisage that because would-be retirees are expected to be prepared for retirement well ahead of their actual departure, the programme could come up in two segments.
The first segment which includes classroom work and interaction with self-employed professionals and practicing entrepreneurs will come well ahead of the actual retirement date. This is to give participants adequate room for deep reflection and evaluation of their business interests viz-a-viz the current business environment.
The second segment will then come up as target trainees move closer to retirement. The abiding value of this second phase is twofold. Firstly, it provides trainees the opportunity for consolidation of their chosen area of post-retirement interest through industrial attachment. Secondly, trainees working under the supervision of business coaches will be supported to develop viable business plans to guide their proposed venture.
Location
New York