Measuring Progress & Managing Performance

Transcription

1 Measuring Progress & Managing Performance In Financial Capability Programs Audio Broadcast or Toll Free Number Available Upon Request.

2 Speakers: Moderator: Saunji Fyffe Research Associate, Urban Institute Nancy Kopf Senior Manager, Success Measures Evaluation Services Ingvild Bjornvold Director of Strategic Initiatives Social Solutions 2

3 What is PerformWell? Outcome measures, indicators and performance management Tools, guidance and strategies Research-informed, practitioner-guided Free, interactive, web-based Partnership of Urban Institute, Child Trends, and Social Solutions

4 PerformWell Performance Management Definition Performance management is a dynamic process that is designed to better understand program operations, monitor outcomes, and ultimately, help nonprofits become high performing organizations which produce positive outcomes. It involves regular, ongoing performance measurement, reporting, analysis and program modification.

5 Financial Capability Programs Empower with financial knowledge, capacity and confidence Equip with skills that can lead to sustained, positive financial management behaviors

6 Important questions to ask Are you making a difference? How is your approach helping to change behavior? Are you able to articulate the goals of your program to staff and stakeholders? Are your measures meaningful and useful?

7 Step 1: Identify Outcome Area Example: Financial Capability Programs Financial Knowledge, Attitudes & Perceptions - personal qualities that empower individuals with the capacity and confidence to make positive short-and long-term decisions about fiscal matters Financial Management Behaviors and Skills - positive financial behaviors and skills that can lead to improved financial health and quality of life for individual and families (e.g., establishing bank accounts, increasing savings and investments, using credit wisely, managing debt and cash flow, avoiding mortgage delinquency, and budgeting)

8 Step 2: Identify Indicators Financial Knowledge, Attitudes, & Aspirations Financial Management Behaviors and Skills Financial Knowledge Cash-flow Management Attitudes toward Financial Management Account Ownership Financial Self- Efficacy Savings and Investment Skills Motivation to Change Behaviors Financial (Spending) Plan

9 Step 3: Identify Tools The Financial Self-Efficacy Scale (FSES) Please respond to the following statements using these response categories: 1=Exactly true 2=Moderately true 3=Hardly true 4=Not at all true It is hard to stick to my spending plan when unexpected expenses arise It is challenging to make progress toward my financial goals When unexpected expenses occur I usually have to use credit Source: Lown, J.M. (2011). Development and Validation of a Financial Self-Efficacy Scale. Journal of Financial Counseling and Planning, 22(2),

10 Improve Service Delivery Important Questions that Financial Capability Programs should ask Are you enrolling the right people? Is your program structured to meet client needs? Are competent and qualified people delivering the programs and services? Are clients making progress and changing their behaviors? Identify tools to help answer these questions

11 Benefits of PerformWell Enhanced capacity to demonstrate progress towards goals and objectives Are client skills and behaviors improving? Better targeted use of resources Are additional resources needed for program implementation? More informed,strategic decision-making Should you consider alternative service delivery strategies for program improvements?

12 Success Measures is an outcome evaluation resource for community development organizations, intermediaries and funders. A social enterprise based at NeighborWorks America, Success Measures was created by practitioners and funders who wanted to document their impact for the people and communities they serve. Its participatory approach equips nonprofits and their funders with skills and tools needed to demonstrate results and communicate success.

13 Success Measures Provides Comprehensive Solutions for Effective Outcome Evaluation Shared Measures Over 300 collaboratively developed data collection tools Technology Success Measures Data System (SMDS) Evaluation Learning Center (ELC) Evaluation Services Consulting Training & Technical Assistance Data Analysis

14 Developing the Financial Capability Tool Set Outcome-focused rather than programfocused Input from practitioners, researchers and clients Culturally relevant Reflect the experiences of people being served in programs Respectful and nonjudgmental 14

15 Financial Capability Tools: What they measure? Individual/Household Background Financial Status Financial Behavior Financial Attitudes Non-Financial Characteristics of Financial Security Informal and communal Assets Asset Preservation: Foreclosure Mitigation

16 Success Measures Evaluation Tools In the publication: Measuring Outcomes of Financial Capability Programs: Success Measures Tools for Practitioners Available via free download:

17 Saving Behavior Reasons 17

18 Family and Household Dynamics Behaviors (Adults with no Children) 18

19 Family and Household Dynamics Behaviors (Adults and Children) 19

20 Strategic Use of Formal Financial Resources Alternatives 20

21 Saving Behavior Reasons (Youth) 21

22 Integrating data collection and use into the work of the organization Make sure practitioners see value in information Acknowledge the additional work involved in collecting quality data Example: include in job descriptions and performance reviews Provide support for practitioners share different strategies for data collection Allocate time for reviewing data Support changes in programs based on data 22

23 Using Data Within the organization Practitioners Managers Boards With clients With external stakeholders Partners Funders 23

24 Using Data: Understanding Clients Issues and Needs Challenging commonly-held assumptions about clients and their financial behavior Some pleasant surprises were that our clients overwhelmingly avoid fringe lending products and 58% of our clients are using electronic bill pay. Both of these are in direct contrast to assumptions about our constituency. Mission Economic Development Association 85%, have lived in the United States for five years or more. We had expected that the majority of participants were more newly arrived to the United States. This could demonstrate various factors. First, it can take longer than expected for people to begin integrating into the U.S. financial system. It also shows that we need to make more of an effort to recruit more newly arrived participants. Latino Community Credit Union 24

25 Using Data: Understanding Clients Issues and Needs Uncovering new financial issues facing clients Student loans and medical debt substantial In Phase I of the data collection, it was useful to learn that participants are carrying debts from educational loans although they do not have degrees or jobs to substantiate the debt. The ULBC plans to create a Booster Shot session to educate participants on FAFSA, other sources of financial aid and accreditation standards for schools. We believe the Booster Shot will educate the community to change the patterns of poor decision making when attending post-secondary schools. Urban League of Broward County 25

26 Using Data: Enhancing Service Delivery Identifying clients ready for coaching Understanding which clients were able to benefit most from coaching, and marketing to them. Clients who were focused on a specific goal were best able to take advantage of coaching Clients may benefit from learning some of the basic concepts before entering a coaching relationship Identifying appropriate clients for individual financial coaching is an important lesson CASA learned from the evaluation. Going forward, CASA will continue to focus these efforts on Citizenship Maryland Loan Program clients CASA of Maryland 26

27 Using Data: Enhancing Service Delivery Tailoring program/curricula for different populations Groups for college students, women, those interested in business start-ups Focusing on those who didn t not have adequate savings to weather a financial crisis Added separate Credit Rebuilding & Repair classes Added segment on laws relating to credit reporting Expanded segment on Consumer Financial Protection Laws Add content on different savings products and strategies to save into emergency fund We plan to make changes to our curriculum to make people aware of more savings products and strategies with special emphasis on emergency funds. The vast majority of our clients feel saving for emergencies is important yet the same majority feels they should pay off all debt before they start saving. We plan to add some information on the cycle of debt that can occur when we lack an emergency fund and on removing the stigma attached to saving first when we have debt. Mission Economic Development Association 27

28 Integrating Data Collection into Coaching/Counseling Delivery Using evaluation to help clients discuss personal issues in non-threatening way Yes, coaches asked clients fill out the tools during their first session and it helped the coaches get a more complete understanding of their clients and provided a conversation starter. We encourage coaches to use all surveys that a client fills out to discover what the client s needs are, to identify and help develop goals and to explore the client s values. Coaches have access to these surveys during every coaching session. Foundation Communities 28

29 Using Data: Engaging Clients Showing clients their progress Group information is motivating 29

30 Using Data: Engaging Funders and Partners Funders Communicate with funders about what outcomes are reasonable to accomplish Communicate results and how data has been used Demonstrate evaluation capacity Partners Use the same data collection tool aggregate results Can market services based on track record of results 30

31 NEXT WEBINAR Scaling an Effective Intervention: How to Build Implementation Capacity, Replicate with Fidelity, and Produce Consistent Outcomes Guest Speaker: Dean Fixsen October 14, 3:00-4:00pm ET Register at 31

32 Q&A Saunji Fyffe Research Associate, Urban Institute Nancy Kopf Senior Manager, Success Measures Evaluation Services Ingvild Bjornvold Director of Strategic Initiatives Social Solutions