The strategy "Enhancing NAPSA's Strategic Initiatives" aims to achieve key goals set for 2027-2031 by focusing on digital transformation, expanding coverage, and embedding sustainability. The digital transformation involves creating a digital member portal and mobile app by 2028, improving ICT infrastructure, and using AI for personalized services. For instance, increasing online engagement and ensuring data security are crucial actions within this pillar.
Expanding coverage targets the informal sector by developing pension products and conducting outreach programs. NAPSA plans to increase informal sector membership by 50% annually and implement mobile payment solutions, ensuring wider access to pension benefits for non-traditional workers.
Additionally, embracing sustainability and ESG principles entails investing in green energy projects and incorporating ESG criteria into investment decisions. Training for investment managers and engaging stakeholders in understanding ESG principles are key activities to align with corporate sustainability goals. By fostering partnerships with ESG-focused organizations, NAPSA aims to set measurable ESG targets by 2030.
The strategies
⛳️ Strategy 1: Implement digital transformation
- Develop and launch a digital member portal and mobile app by 2028
- Enhance ICT infrastructure to support digital services
- Integrate artificial intelligence for hyper-personalised member services
- Conduct training sessions for staff on new digital tools and platforms
- Implement an integrated data management system to improve data quality
- Increase digital claims processing to ensure claims are paid within 24 hours by 2029
- Monitor and evaluate digital service quality through member feedback
- Increase online engagement and communication with members
- Ensure data security measures are enhanced to reduce cybersecurity risks
- Develop KPIs to track digital transformation success annually
⛳️ Strategy 2: Expand coverage into the informal sector
- Develop innovative pension products tailored for the informal sector
- Increase informal sector membership by 50% annually
- Conduct outreach programs to educate the informal sector about pension benefits
- Establish partnerships with informal sector associations
- Implement mobile payment solutions to facilitate contributions
- Conduct surveys to understand the needs of the informal sector participants
- Create marketing campaigns targeted at informal sector workers
- Monitor and report on coverage expansion progress quarterly
- Provide incentives for informal sector employers to enroll employees
- Regularly update strategic approaches based on feedback from new members
⛳️ Strategy 3: Embed sustainability and ESG principles
- Increase investment in green energy and ESG-compliant projects
- Embed ESG criteria into the investment decision-making process
- Conduct regular ESG-related training for investment managers
- Engage with stakeholders to promote understanding of ESG principles
- Develop a sustainability policy aligned with corporate strategy
- Incorporate ESG performance metrics into investment evaluations
- Publish an annual ESG performance report to stakeholders
- Set measurable ESG targets for the portfolio by 2030
- Foster partnerships with ESG-focused organisations
- Offer staff incentives linked to achieving sustainability goals
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
