Skills Development and the YES Initiative
Skills Development and the YES Initiative
July is a significant time for many companies as they often evaluate their skills programs during July. Notably, the 15th of July is also recognized globally as World Youth Skills Day, highlighting the vital importance of equipping young people with skills necessary for employment, dignified work, and entrepreneurship. This dual focus underscores the strategic importance of both corporate and global efforts in skills development.
In South Africa, both government entities and companies actively engage in Youth Employment and Skills Development initiatives. These efforts often include Skills Development (SD) programs and the YES initiative. However, due to their overlapping objectives, there can be confusion between these two programs. So, let’s take a quick look at both:
What is Skills Development (SD)?
Skills Development (SD) programs are crucial for improving individuals’ abilities and knowledge to align with labor market demands. These programs include various types of training, education, and certification to enhance specific skills. The main objective is to close the gap between the skills employers need and what job seekers can offer. SD programs are designed according to industry standards and are frequently updated to keep up with technological advancements and changing market requirements.
In South Africa, Skills Development has been greatly influenced by Broad-Based Black Economic Empowerment (B-BBEE) policies. The B-BBEE framework, introduced in 2003, highlighted the importance of skills development in achieving economic transformation and inclusivity. Companies are motivated to invest in training and development initiatives to improve their B-BBEE scores. This alignment with B-BBEE ensures that skills development programs not only improve individual capabilities but also support broader socio-economic objectives, such as reducing unemployment and bridging the skills gap caused by historical inequalities.
What is the YES Initiative?
The Youth Employment Service (YES) Initiative is a collaborative program designed to combat high youth unemployment rates in South Africa. This partnership between the government, businesses, and labor organizations aims to create job opportunities for young people. The initiative provides youth with work experience, helping them develop practical skills and improve their employability. A key benefit of the YES Initiative is offering valuable work experience, essential for building strong resumes and gaining practical skills, thereby enhancing job prospects. Additionally, companies participating in the initiative can improve their Broad-Based Black Economic Empowerment (B-BBEE) scorecard by up to two levels, which encourages business participation, benefiting both their growth and the development of a skilled workforce.
Benefits and Importance of Skills Development and the YES Initiative
Skills Development and the YES Initiative offer numerous benefits to companies, individuals, and the economy.
- For Companies:
Skills Development: Enhances workforce competence, leading to higher productivity and innovation. It also improves employee retention and loyalty by increasing satisfaction and reducing turnover rates.
Also, learnerships (another form of Skills Development tools) offer a distinctive and efficient method for skill development, enabling organizations to gain additional advantages through a tax rebate of R80,000 per able-bodied learner annually and R120,000 per learner with disabilities each year. These deductions help offset the expenses associated with the Learnership program.
YES Initiative: Improves B-BBEE scores, enhances reputation, and fulfills corporate social responsibility objectives. Companies can chose from various options that might work best from them, for example: sponsoring the placement of YES Youth in third-party enterprises; or providing a 12-month work experience within their company etc
- For Individuals:
Skills Development: Improves employability and opens-up opportunities for career progression and higher-paying roles.
YES Initiative: Provides invaluable work experience and on-the-job skill development, significantly enhancing employability.
- For the Economy:
Skills Development: Drives growth, reduces unemployment, and fosters a more dynamic labor market.
YES Initiative: Reduces youth unemployment, stimulates economic activity, and helps create a more skilled and versatile workforce.
Participation in both initiatives is crucial for sustainable economic growth, social equity, and global competitiveness. Together, they ensure a well-trained and experienced labor force, driving the country towards a brighter, more prosperous future.
Conclusion
Understanding and leveraging both Skills Development and the YES Initiative can profoundly impact individuals, companies, and the broader economy. These programs work in tandem to create a more competent, experienced, and employable workforce. By participating in these initiatives, businesses not only contribute to economic growth but also enhance their own competitiveness and social responsibility profiles.
Please do note though: The YES initiative is separate from Skills Development (a priority element on the B-BBEE Scorecard)
We invite you to learn more about how you can benefit from Skills Development and the YES Initiative. Visit our website or reach out to us directly for more information on how these programs can help you or your organization.
Together, let’s build a brighter future
