Why should you train your employees in your organisation while the country is in the middle of a recession and with numerous companies restructuring and retrenching? There are numerous answers, statements and perspectives around this, but a proven theory is that a workforce that is continuously being upskilled gives a company a competitive advantage above their competitors. It is further proven that Top Employers around the world invest in talent which provides a tremendous benefit for employees alike. It also gives employees the opportunity to stand a better chance of being reemployed within another organisation should they get retrenched.
Skills Development goes hand in hand with B-BBEE scorecard as one of the priority elements with a subminimum of 8 points that needs to be reached. The below table indicates the areas that a company under the generic codes needs to meet to achieved the relevant points.
|Expenditure on learning programmes for black people.||3.50%||6|
|Expenditure on bursaries of black students||2.50%||4|
|Expenditure on learning programmes for disabled black employees||0.30%||4|
|Training and development programmes|
|Number of all black people participating in learnerships, apprenticeships or internships||5%||6|
|Absorption of black people after learnerships, apprenticeships or internships||10||5|
In order to receive any points on your Skills Development element on B-BBEE, the organisation needs to submit proof of their WSP, ATR and Pivotal plans and the approval letter from the relevant SETA. Organizations needs to spend 3.50% of their leviable amount (payroll) on training which excludes your bursaries (Diplomas, Degrees and post graduate qualifications). Why not claim this against your WSP and ATR and get 20% of your Skills Development levy back? Also why not indicate your intentions for bursaries, learnerships, apprenticeships and internships in your PIVOTAL plans and claim back from discretionary funding (up to 40% of your Skills Development Levy).
Let Dalitso Consulting assist your organisation today, to submit your reports and claim some money back for your training budget.
Contact us today on firstname.lastname@example.org or 012 753 2425.