Skill development training 101 – Take a few tips from the Pros
Skills Development Training 101 – Take a few tips from the Pro’s
Need skills? When looking to implement Skills Development Training in-line with BEE policies, it makes sense to take advice from leading experts in the field. The spend on Skills Development is significant and therefore partnering with the best-in-the-business ensures that both your company and the individuals involved truly benefit.
Did you know: The Skills Development element takes up 18% of the entire BEE scorecard and is still the “easiest” and most positive element to have implemented within your company. In undertaking in upskilling initiatives, corporates look to increase availability, provide opportunities to unemployed individuals (both abled and disabled) and ultimately, help to reduce the rising unemployment rate in South Africa.
It is also important to note that Skills Development is now a priority element meaning that companies who do not comply will be discounted by at least one level automatically for not meeting this element’s sub-minimum requirements. Another recent amendment comes in the form of a requirement for increased spend on Skills Development initiatives from 3% to 6% (of a company’s annual leviable amount).
On a very positive note, we are seeing more and more companies and its employees getting to grips with BEE and its policies. Here are a few tips to help you excel in your BEE Scorecard:
- Incorporate BEE into your company’s business strategy – The companies who truly benefit are those who embrace, understand and incorporate BEE into their company strategies effectively. BEE is not a quick fix and cannot operate in isolation – it takes time, care and effort.
- Understand that there is a lot to be gained – It’s no secret that there are negative connotations to the concept of BEE but why not look at it from another perspective? While your company is investing a lot of its hard-earned revenue, understand that there is much to be gained by properly implementing policies. Rather than a ‘compliance exercise’, companies are asking how their employees can benefit and how they can in-turn benefit from skilled employees. Upskilled employees are a competitive advantage to any business and this is why Skills Development initiatives have become increasingly sought after.
- Partner with pro’s – BEE is a complex subject. By collaborating with an established company, you benefit from strategic insights, high-level expertise and a solid understanding of Skills Development relating to your business. Collaborate with a company that is able to provide a range of services to meet your needs.
- Skills development is still the most cost effective way to earn maximum points – Look at the gaps in your company and how these can be filled. Ten-to-one, Skills Development is at the top of the priority list. LFP Training’s learnerships are still the most cost effective and beneficial way to reach your desired target spend.
- Know your rebates and incentives – BEE is a ‘give and take’ situation. By complying, your business is eligible to claim spend recognition towards preferential procurement depending on a provider’s recognition levels. In addition, ensure that you are aware of available incentives and how to access these such as Section 12H Tax Rebates and Youth Subsidies from SARS and Discretionary SETA’s when implementing your skills development strategy.