There has been much talk lately about the upcoming changes to the BBBEE Codes of Good Practice that have been published by the DTI.
The most significant of the changes are the automatic recognition levels for large black owned companies and the introduction of the YES (Youth Employment Service) program.
The Youth Employment Service (YES) companies being created, entitling these companies to move up 1 to 2 BEE recognition levels if all the qualifying criteria have been met. Participating YES companies will be required to pay annual membership fees in order to participate in the program.
The qualifying criteria include:
- Achieving the 40% sub-minimums for each priority element
- Improve on their BEE score annually
- Generic companies will be required to score full points under the Skills Development Element
- Provide full time employment contracts for a period of 12 months to the African youth aged between 18 to 35 according to a target set based on annual revenue or headcount
- To move up 1 recognition level the YES company must meet the above targets and achieve 2.5% absorption rate.
- To move up 2 recognition levels the YES company must achieve double the stated absorption rate.
SDF Corp. is the custodian that can provide a strategy and skills plan for your company to work towards. We will guide you each step of the way, driving and implement the BBBEE Strategy together.