The game has changed… Get conversant with new BBBEE codes fast!
If you did not know, the updated BBBEE codes are coming into effect on the first of May and the jury is still out on how these new amendments will affect your current BBBEE status.
Still, experts have foreseen possible increases in the cost of compliance, which highlights the need for local business owners to urgently get up-to-date with these new regulations to get maximum empowerment points.
Some of the ‘big ticket’ changes you can expect include: a decrease from seven to five BBBEE scorecard elements; skills development spend requirements are up from 3% to 6% of leviable payroll per annum on black staff only; under preferential procurement, the term ‘Empowering Supplier’ has been included and most suppliers will not meet the required profile in the short-term; and the scores per verification level have been changed, making the achievement of higher BBBEE levels more difficult.
It is a lot of work for business owners who are already overwhelmed by other paperwork and trying to stay afloat during trying economic times, which is why PMI, a member of Adcorp Holdings Group and a leading provider of human capital developments solutions and training, is hosting a full-day BBBEE workshop at the Boardwalk, in Port Elizabeth, on 12 May.
Titled the ‘Strategic BBBEE Codes Implementation Workshops Citing Best Practice for Maximum ROI’, the workshop will be facilitated by Adcorp’s Head of Strategy, John Botha.
He will present expert insights on these new BBBEE amendments; analysis of the ‘big ticket’ changes; outline emerging trends as well as case study reviews from across various sectors and industries that detail successful optimisation of workforce planning, preferential procurement and cross-subsidisation.
Botha will also offer exclusive guidelines and tools on how to design a meaningful, integrated and sustainable BBBEE strategy and plan. He will facilitate high-level individual calculations of your potential BBBEE scorecards.
“I walked away from the session confident and ready to engage with business leaders and now also have a better understanding
of what elements of training can be included when reporting on training spend,” Brandon Gillham, HR Manager at MWEB, said
about the workshop.
Isak Staaks, General Manager: Wool and Mohair, BKB, said; “This workshop allowed us to look at our business as a whole and craft solutions that will positively impact the way we tackle Skills Development and Employment Equity going forward.”
For more information and to register, call or e-mail Lynne Wilmot on 041 404 2421 / [email protected] or visit pmi-sa.co.za today.
Photo Caption: Adcorp’s Head of Strategy, John Botha.
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