MCA is part of Momentum Corporate which, over the years, has won various industry awards.
With over 3,000 attendees, close to 50 exhibitors and numerous knowledge-sharing sessions, the inaugural HR Indaba was arguably a resounding success. With less than a month to go before this year's event, Blessing Utete who is the executive director at Momentum Consultants and Actuaries (MCA) talks about why they are looking forward to it.
1 What is MCA and how long has the company been around?
MCA specialises in holistic Employee Benefits advisory services and solutions geared towards the workforce of the future. We are in touch with the direction in which the world is moving and will match your employees’ benefits perfectly with their needs throughout their career journey.
MCA was formerly a part of Momentum Consult (Pty) Ltd. In 2017, following an in-depth evaluation of the then operating model, it became evident that the value we add to corporate businesses would be enhanced by consolidating our corporate advice capabilities under one FSP license. This led to registering a separate FSP with the FSCA under the name Momentum Consultants and Actuaries. MCA specialises in providing the following specialist consulting services to corporates, organisations, and public sector entities:
- Employee benefits consulting
- Asset consulting
- Actuarial consulting
- Healthcare consulting
- Legal and technical consulting
- Member engagement solutions
2 How do you differentiate yourselves from other competitors in your space?
Based on our research to understand our clients better, it became clear that many corporate businesses are frustrated with the current traditional advice they receive from their corporate financial advisers, as the financial outcomes for their employees are not improving due to the same advice strategy being followed.
An employer’s topmost intention with providing employee benefits to their workforce is to ensure that their employees’ needs are met during their life time. In a world that has completely changed and become unpredictable, to serve the changing needs of today’s workforce, employers need a pioneering approach that will work in this new world to help their employees on their journey to success. A traditional corporate financial adviser simply won’t do anymore. Employers need an expert team of unbiased, trusted financial advisers that offer them a fresh approach – one that is in touch with the direction in which the world is moving and matches their employees’ benefits perfectly with their needs throughout their journey. Employers should expect nothing less from their corporate financial adviser.
Also, MCA is part of Momentum Corporate which, over the years, has won various industry awards for their employee engagement solutions, employee financial literacy and research programmes. These help employees to make the right financial decisions based on their unique needs. Below are a few of the awards:
- In 2017, Momentum Corporate won The FIA award for Employee Benefits provider of the year. In 2018 and 2019 they were nominated as a finalist in this category.
- In 2017, Momentum Corporate’s Smart Exit solution won the gold award in the Service Design category.
- In 2018, Momentum Corporate’s innovative use of research on employee presenteeism – the phenomenon whereby employees are physically at work but are not productive because they are distracted – this research project earned prestigious accolades at Ask Afrika's inaugural Da Vinci Awards.
- In 2018, Momentum Corporate’s financial literacy programme, Motheo Financial Dialogues, won the Imbasa Yegolide Awards Fund Challenge in the category ‘Financial Control - Managing Expenditure’, an accolade from the Batseta Council of Retirement Funds.
- In 2018, Momentum Corporate’s Smart Underwriting solution won the silver award at the Loeries in the Service Design category which recognises brands that engage their customers in an innovative way.
- In 2019, Momentum Corporate won the PMR Africa silver award for the employee benefits provider of the year in the categories Group Life/Risk Products, Group Pension and Provident Funds and Investment Products.
In addition to the above MCA has structured a number of innovative and leading employee tools and employer analytics to enable employers to better understand their employees and structure solutions aligned to the needs of their workforce.
3 Why have you signed up for the HR Indaba and what should attendees look forward to seeing from you at the event?
The HR Indaba is a sought after industry event that creates a platform for over 3 000 HR professionals representing businesses that are serious about the wellness of their employees. The event creates a platform to facilitate the right conversations with service providers to enhance their employees’ financial outcomes on their journey to success. Attendees can look forward to a presentation of our distinct approach to Employee Benefits advice and how our employee engagement solutions have been crafted to cater for the changing world of work.
4 What would you say is the biggest challenge facing the HR profession?
HR Professionals and Employers are faced with the enormous task of understanding the changing workforce landscape which is laden with distinct challenges. Not only are employees under increased personal and financial pressure and become disengaged and less productive at work, poor investment returns have resulted in apathy and employees questioning the value of their retirement savings, which further exacerbates the problem. Furthermore, healthcare cost increases have led to affordability concerns for employees who need to make informed choices around their medical plans
These challenges, in the quest to become employers of choice, require professionals that appreciate the need to provide tailor-made benefits to their employees and allow them freedom of choice. In balancing these needs HR professionals are often challenged to find the right partner, who will not only understand their workforce dynamics but also support their companies and fellow employees; ultimately changing the financial outcomes of employees, keeping them engaged and productive.