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Changes to South Africa’s B-BBEE – Is your company B-BBEE compliant?

Is your company B BBEE compliantMany a raised eyebrow followed the amendments to the general/generic BBBEE codes and subsequently some sector codes. The amendments brought about a shift in focus away from the narrow based approach of doing the absolute minimum to get a B-BBBEE certificate by avoiding the critical elements such as ownership and skills development. The new focus is aimed at implementing measures with long term effect, creating gainful employment, identifying skills gaps and contributing to scarce and critical skills development, making the unemployed more employable and in so doing alleviating poverty and unemployment rates.

This could not have come at a better time given the ongoing disputes in the university space. Even though the priority ownership element was something to get used to, it was expected To a degree, because BBBEE after all drives black ownership in businesses; much of this disbelief centred on the skills development element of the codes. With the spend target being moved from 3% of your annual wage bill, to 6% on the generic scorecard, and the introduction of the EAP targets, anxiety followed.

The general consensus being “surely the DTi should know that no business can afford this?”, or can it? It is clear that B-BBBEE legislation is here to stay and as such it would be best to incorporate it into your business to have fruitful results. Any business aiming to retain its talent and move forward, would recognise LabourNet Transformation: Maximizing Skills Development spend as part of your B-BBEE strategy Copyright LabourNet Group that employees need to be developed and advanced in order to do this. So why not utilise the guidelines provided by the codes and legislation to the benefit of your business. Over the next few weeks we will be discussing and exploring B-BBBEE legislation.

Pay Solutions expert HR Consultants can assist with Skills Development in order to claim from your relevant SETA thus getting your company B-BBEE compliant contact us now!