Part Two of the Two Part Series on Skills Development:
Skills Development is not as expensive as you may think.
The Skills Development Act aims to develop the skills of the South African workforce, thereby improving the quality of life for workers and giving them more prospects of work. It also aims to improve productivity in the workplace, the competitiveness of employers and to promote development.
The Skills Development Levies collected by the SETA are channelled towards skills development. This levy can be claimed back by an employer if they submit their WSP, ATR and Pivotal training report and achieve the goals set out. Companies should also have a skills development committee whose responsibilities include monitoring the implementation of the WSP.
The WSP (Workplace Skills Plan) plays a significant role in the execution of education, training and development initiative in the organization. An employer needs to establish a WSP, which is a strategic document that details how the employer will address the needs for development and training in the workplace. Remember to link this to your succession plan! This should be in line with the core and critical skills identified by the SETA.
The ATR (Annual Training Report) is accurate documentation of all the training that has taken place in the reporting period in the organisation i.e.: the ATR is the past information and the WSP is the future planned training.
When skills development is structured in the best way, and core and critical skills are identified, implementation becomes sustainable and ends up saving you money. Learnerships are a key strategy to achieving your goals as well as enabling you to take advantage of the tax allowances, employee tax incentives and seta grants which reduces your overall cost.
As mentioned in Part 1 – EconoServ is hosting a series of workshops on “Skills Development” and “BEE”.
Delegates will gain a better understanding of the requirements of the SD Act and SDL Act and will have more knowledge on how to submit your documents and how to maximise your skills development spend. We will explain how targeted skills development can actually save you money, via tax incentives, and maximise your BEE skills development recognition.
Can’t attend? Please contact us and we can tailor a solution for you.
For a full list of our workshops, please visit our website www.econobee.co.za
To book please email us on email@example.com or call us on 011 483 1190.