Management Magazine
No Result
View All Result
  • ABOUT
  • KIMSOM
  • TRAINING
  • MEMBERSHIP
  • Login
  • Register
  • Home
  • News
  • Special Features
  • Leadership
    • Perspective
    • Smart Leadership
    • Strategy
    • Tactics
  • Business
    • Money Matters
    • Smart Solutions
    • Investing
    • Personal Finance
    • Wealth Creation
  • Management
    • The Big Idea
    • Office Diary
    • Hands on Management
    • Future of Work
  • Lifestyle & Travel
    • Wellness
    • Travel
    • Tech
    • Lifestyle
    • Entertainment
magazines
SUBSCRIBE
  • Home
  • News
  • Special Features
  • Leadership
    • Perspective
    • Smart Leadership
    • Strategy
    • Tactics
  • Business
    • Money Matters
    • Smart Solutions
    • Investing
    • Personal Finance
    • Wealth Creation
  • Management
    • The Big Idea
    • Office Diary
    • Hands on Management
    • Future of Work
  • Lifestyle & Travel
    • Wellness
    • Travel
    • Tech
    • Lifestyle
    • Entertainment
No Result
View All Result
Management Magazine
No Result
View All Result
Home Special Report

Value above the trophy

Denis Kiptoo by kimmag
April 5, 2019
Reading Time: 9 mins read
0

Galm Jaldesa, LAPFUND’S chief Manager of Strategy & Business Development

By DERRICK VIKIRU

RELATED POSTS

The place of competition agencies in the transition to a circular economy

Rise of an Era: Millennial and Generation Z Farmers

How Business Leaders are Reframing the Future beyond the Pandemic

LAPFUND’S chief Manager of Strategy & Business Development Galm Jaldesa says companies that participate in Awards should focus on the value drawn from each step of the process

For many, the idea of retirement translates to easing into a more relaxed lifestyle, having time for hobbies, family and friends, travel, and many other recreational activities. However, for many approaching retirement, apprehension and worry may be all they feel, pondering whether there will be enough money to maintain their lifestyle without a constant income stream. This is where Local Authorities Provident Fund (LAPFUND) comes in to aid its clients in saving towards retirement with a clear and informed vision in mind. Established in 1960, Lapfund is one of the oldest retirement benefits schemes in Kenya tasked to offer social protection through its various products. The institution is totally focused on helping individuals to achieve a better retirement outcome. In an interview with Management Magazine, Lapfund’s chief Manager of Strategy & Business Development Galm Jaldesa spoke on the Fund’s strategic direction that saw it win an award at the just concluded Company of the Year Awards (COYA) organised by the Kenya Institute of Management (KIM).

Lapfund emerged winner in the Leadership and Management category, and First runner up in Financial Management and Customer Orientation and Marketing categories. Like all winners, the company went through a rigorous Organisational Performance Index (OPI) process; a business excellence tool developed by KIM and benchmarked with global business excellence tools.

Huge benefits

“COYA and OPI process can be incredibly time-consuming but it comes with huge benefits. Winning the category award has helped us build recognition for the work we have been doing since we joined,” says Jaldesa.

The recognition is in line with the organisation’s promise to endeavour to continuously maintain and improve an efficient and effective Quality Management System in accordance with the requirements of ISO 9001 Standard. Their acquisition of award for Leadership and Management goes further to prove that the company does deliver in its promises. “This award has boosted our credibility among our members,” Jaldesa is quick to note. “A business may struggle to prove its credibility, but an award win certifies their place in the industry,” he adds.

Buy JNews
ADVERTISEMENT

Customer centric

Lapfund,  a defined Contribution Scheme is a state corporation that draws its mandate from an Act of Parliament Cap. 272 Laws of Kenya and County Government Act 2012 (section 132), and regulated by RBA Act, 1997 and Regulations 2000. According to Jaldesa, currently, Lapfund has a membership of over 45,000 members drawn from all County Governments and associated organisations. “Lapfund’s investments are held in various asset classes as outlined and regulated by the Retirement Benefits Authority (RBA) such as government securities, equities and deposits, and property,” he notes.

Consistency in service

Jadesa observes that the OPI process has helped the institution focus on consistency of approach in delivering its mandate, a move driven by technology that is easily understandable by clients and puts clients in charge of their retirement. “Our big focus is on continuous improvement and this has been necessitated by the transformation that we have undergone since joining OPI. We are not where we want to be, but we are at a much better place than where OPI found us.”

“We have shifted our improvement drive and we are focusing on marketing and the customer,” he added. He notes that their organisation is customer based and it is only prudent that they align their processes to favour the customer. This is also in line with their other promise to the customer; ‘to strive to understand and fulfil customers’ needs and expectations’. These attributes make Lapfund a customer centric organisation. Jaldesa infers that whether retirement is on the horizon or decades away, it’s never too early to start securing ones financial needs for the golden years. 

True to its values

From the conversation,it is apparent that professionalism is highly valued at Lapfund. This is engrained in Lapfund’s promise to uphold integrity, accountability, cost effectiveness and adherence to professional ethics at all times. Jaldesa reiterates the willingness of management to support initiatives that steer the company to sustained growth, continuous improvement, customer focus, improved human resource focus, vision mainstreaming and profitability. He constantly cites the company’s comprehensive technical reporting and ongoing monitoring of funds to give clients easy access to their financial statements and foster peace of mind. “We are working on a portal where our members will be able to access their statements online from wherever they are. New members can equally register on the portal and make payments online,” says Jaldesa.

Value of awards

The glitz, the fun, the celebration, the glamour and of course the champagne makes attending awards something we all are excited about; but Jaldesa quips that just winning a trophy should not be the ultimate goal. “There are many awards in the market today, but it is paramount for a participating organisation to focus on the value drawn by participating in the process. It is also important to use the award process as a team engagement tool. Let the employees participate in the entire process,” he concludes.

Derrick Vikiru is the Sub-Editor Management Magazine. Email: dvikiru@kim.ac.ke

Tags: Derrick Vikiru
ShareTweetShare
Denis Kiptoo

kimmag

Related Posts

Special Report

The place of competition agencies in the transition to a circular economy

September 5, 2023
Management Magazine -Millennial and Generation Z Farmers
Perspective

Rise of an Era: Millennial and Generation Z Farmers

November 18, 2021
Management Magazine - How Organizations are reframing the future beyond the pandemic
Future of Work

How Business Leaders are Reframing the Future beyond the Pandemic

November 10, 2021
Management Magazine - Establishing and Implementing Inclusive Pension Schemes for PWDs
World

Establishing and Implementing Inclusive Pension Schemes for Persons with Disabilities

November 10, 2021
Unlocking Renewable Energy Investment
Investing

Unlocking Renewable Energy Investment

October 13, 2021
Pension Uptake for Retirement Benefits in the Informal Sector
Special Report

Pension Uptake for Retirement Benefits in the Informal Sector

October 4, 2021
Next Post

The emergence of corporate social purpose – better than CSR

Small business, big CSR impact

Recommended Stories

Shifting focus to a knowledge economy

November 13, 2018

The Synergy of Emotional Intelligence and Sustainability

September 5, 2023

Kenya should re-evaluate infrastructure strategy

November 13, 2018

Popular Stories

  • Management Magazine - Entertainment - Book Review

    Book Review: Go Tell the Bees That I Am Gone (Outlander Series #9)

    0 shares
    Share 0 Tweet 0
  • Tax measures as impetus to education sector

    0 shares
    Share 0 Tweet 0
  • How technology has improved healthcare

    0 shares
    Share 0 Tweet 0
  • How the old education system created failures

    0 shares
    Share 0 Tweet 0
  • I am living my childhood dream

    0 shares
    Share 0 Tweet 0
Management Magazine

Management is a monthly magazine targeting middle and senior level managers from all sectors of the economy.

Recent Posts

  • How Gig Economy is Empowering a New Generation of Workers
  • The Synergy of Emotional Intelligence and Sustainability
  • Handling employee exit

KENYA INSTITUTE OF MANAGEMENT

  • ABOUT
  • KIMSOM
  • TRAINING
  • MEMBERSHIP

Get a year of access for Premium Content


SUBSCRIBE

© 2021 Management Magazine - A Publication of Kenya Institute of Management.

No Result
View All Result
  • Home
  • News
  • Special Features
  • Leadership
    • Perspective
    • Smart Leadership
    • Strategy
    • Tactics
  • Business
    • Money Matters
    • Smart Solutions
    • Investing
    • Personal Finance
    • Wealth Creation
  • Management
    • The Big Idea
    • Office Diary
    • Hands on Management
    • Future of Work
  • Lifestyle & Travel
    • Wellness
    • Travel
    • Tech
    • Lifestyle
    • Entertainment

© 2021 Management Magazine - A Publication of Kenya Institute of Management.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?