Say YES to Succession Planning and Skills Development!

In the past two newsletters we touched on the YES initiative and the importance of succession planning.

In this newsletter we would like to discuss how it can all link and make business sense. As previously mentioned, none of these activities will ever work in any entity if they do not make business sense. Succession planning allows the business owner to plan for the future. The YES initiative’s purpose is to provide work experience for the youth and, with the absorption rule, then assist in the eradication of the unemployment crisis that we have in our country.

Aligning the YES initiative to the business’s succession plan will also solve the skills development issue. After the absorption of the YES candidates, the entity will then have to look at upskilling the candidates in order for them to perform their duties effectively. This will address part of the 6% of the payroll spend under the skills development element on your BEE scorecard.

Sending candidates for the right kind of learnerships, or paying for their higher education, can earn you points on your BEE scorecard but, not only that, the candidates will then come back and add value into the business and you will have people ready for growth within the entity, should an opportunity arise.

For more information on how this can be approached, and for us at EconoBEE to answer any questions you may have, please join us for the workshops listed below:

Title: 2-hour YES Initiative Workshop
Date: 25 February 2020 (JHB)
Duration: 09h00 to 11H00
Price: R750 Excl VAT
Venue: Johannesburg – Office No 08, Braamfischer Office Park, 152 Bram Fischer Drive, Ferndale, Randburg

Contact us on 011 483 1190 or info@econobee.co.za

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