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    1Mar, 2022
    Successful Submissions have an excellent Return on Investment!

    Successful submissions of your Work Skills Plan and Annual Training Report can provide excellent Returns on your Investment!

    The window period for submission of the WSP and ATR has opened for some of the SETAs, generally SETA submission window period is open until the 31st of April annually. Without the approved WSP and ATR, Measured Entities will forfeit their skills development points.

    Apart from B-BBEE , here are some of the ROI on successful WSP and ATR submission:

    1. A mandatory grant to the value of 20% of your annual SDL.
    2. The opportunity to apply for Discretionary Grants as the year unfolds.
    3. It is an opportunity for companies to plan for and develop specific skill set requirements, ensuring both businesses and employees the opportunity to grow.

    For measured entities without a skills development facilitator, EconoBEE is offering essential SDF services to help you manage the skills development element for you:

    1. We can act as an external SDF for your company.
    2. We can support your internal SDF with strategic insight and back-end administrative support.

    Contact us on 011 483 1190 or email info@econobee.co.za so that we can help you maximise your ROI!

    16Mar, 2021
    Are YOU being paid out your Mandatory and Discretionary Grants?
    There are 2 types of Grants that are awarded to companies to assist with Training and Upskilling. These are the Mandatory Grants and Discretionary Grants. Let’s look at the difference between these Grants and the benefits of each: Mandatory Grants This Grant is payable to all levy paying companies upon submission and approval of the WSP/ATR Report. This is only paid after the WSP/ATR Report has been approved, which ensures that the SETA’s Quality Standards have been met in the submission. All submissions must be made before the deadline on 30 April, otherwise the Mandatory Grant will not be awarded. This Grant will award companies 20% of the total annual levies that are paid by the employer each month. These pay-outs are made quarterly. Discretionary Grants Discretionary Grants are awarded, as the name indicates, at the discretion of the SETA. Companies will need to apply for this grant when the window opens, which is usually a few weeks after the WSP/ATR submission. The application process is fairly lengthy, as each company will need to specify what type of training will be implemented, the training provider that will be used, and the details of the course will need to be provided. The total cost of this training will need to be provided, including the stipend amounts that will be paid to Learners (where applicable). Companies need to ensure that the training progammes chosen in the Discretionary Grant, address the Scarce and Critical skills shortages in their respective SETA. A complete list of these Scarce and Critical Skills can be obtained from the SETA’s websites. Successful Discretionary Grant applicants can get up to 49.5% of the total levies paid back annually. This grant must be used to pay for the training that was specified in the application. This grant will be paid out quarterly, and in order for payment to be made, companies must provide progress reports for each of the learners sent on training. Who can apply for Discretionary Grants:
    1. NGOs and cooperatives in the Sector
    2. A public education and training institution
    3. A levy paying employer, who has submitted the WSP/ATR Report
    4. A non-levy paying employer, within the jurisdiction of the SETA.

    Do you need assistance with these Grants?  EconoBEE is happy to help you understand these Grants and assist with these applications. The window for Mandatory Grants is now open for most SETAs.

    Online Workshops – To peruse our 2021 Online Workshop List, please click here

     
    16Feb, 2021
    The deadline for the annual submission of the WSP is 30 April 2021!
    The law states that a company with a payroll that exceeds R500 000 per annum must be registered to pay the Skills Development Levy (SDL). All companies with 50 or more employees need to establish a Skills Development Committee and consult with the Committee prior to the submission of the skills report. All companies need to appoint a suitably qualified Skills Development Facilitator (SDF) to facilitate the training needs within the organisation and liaise with the SETA. The WSP (Workplace Skills Plan) plays a significant role in the execution of education, training and development initiatives 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. Benefits of Submitting your Skills Development Reports:
    • 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
    • You can claim up to 20% of the SDL you pay by submitting your WSP and ATR in time
    • In order to maximise your B-BBEE points for skills development, you need to submit your skills development report to the SETA on time
    • You are able to access SETA grants to assist in training your employees
    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. ECONOBEE is hosting a number of workshops on SKILLS DEVELOPMENT! 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 B-BBEE skills development recognition. Can’t attend? Please contact us on 011 483 1190 and we can tailor a solution for you.