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    27Sep, 2024
    Join Us for a Complementary and Insightful Employment Equity Webinar!

    EconoBEE’s Employment Equity Webinar is an excellent opportunity for companies to gain insight into complying with South Africa’s Employment Equity Act (EEA)

    What to Expect:

    • Expert insights on how Employment Equity ties into B-BBEE compliance
    • Best practices for implementing your Employment Equity Plan.
    • The opportunity to ask questions.

     Why Attend: This webinar is designed to help you navigate the complexities of Employment Equity and ensure your business is prepared to meet the current regulatory and administrative necessities  

     

    📅 Date: 01 October 2024
    ⏰ Start Time: 9am
    💻 Platform: Webinar on MS Teams

    Click here to attend this free Webinar!

     Also in News:

    The South African Minister of Trade, Industry and Competition has approved the Legal Sector Code!

    The South African Minister of Trade, Industry and Competition has approved the Legal Sector Code, aimed at advancing Broad-Based Black Economic Empowerment (B-BBEE) within the legal profession. Click here to read more

    5Sep, 2024
    Are You Ready for the Employment Equity Reporting Season?

    Spring is upon us! As the season of renewal and growth begins, it’s the perfect time for businesses to refresh and align their strategies with South Africa’s transformative goals. Just as nature blossoms and adapts, now is the moment for your organization to spring into action and ensure compliance with the Employment Equity (EE) Act.

    Why is Employment Equity Reporting Important?
    Well, the upcoming Employment Equity reporting deadline is a reminder to all designated employers to prioritize EE compliance, especially now that there has been some confusion recently about which version of the Employment Equity Act is currently in effect. Our sources within the Labour Department have clarified that the Employment Equity Amendment Act No. 47 of 2013 is indeed the current legislation in force. According to this Act, “designated employers” are defined as those with 50 or more employees or those with fewer than 50 employees who meet the turnover threshold specified in Schedule 4 of the Act.

    Additionally, employers with fewer than 50 employees may also be considered designated employers if they meet the turnover thresholds outlined in Schedule 4 of the Act. Additionally, employers who do not meet these criteria can still choose to voluntarily do their EE reporting as stipulated in Section 14 of the EE Act. Beyond avoiding fines that can reach up to R1.5 million or 2% of annual turnover (rising to R2.7 million or 10% for repeat violations), embracing Employment Equity is about fostering a workplace that is as diverse and inclusive as our vibrant country. It’s about reflecting the rich tapestry of South Africa in your business and taking steps toward a more equitable economy.

    B-BBEE and Spring Growth
    Just like the new growth we see in spring, Broad-Based Black Economic Empowerment (B-BBEE) and Employment Equity present opportunities for growth, innovation, and a thriving business environment. By aligning your business with these principles, you not only comply with regulations but also position your company as a leader in transformation and inclusivity.

    Let Us Help You Bloom!
    Our experts are here to help you tackle the challenges of EE and B-BBEE compliance. Whether it’s EE planning plan, completing your reports, or increasing your B-BBEE score, we’ve got you covered. Don’t miss this chance to renew and refresh your commitment to transformation—just in time for spring!

    Don’t Miss the Deadline!
    Reach out to us today on 011 483 1190 or email us . Let’s work together to grow a more inclusive and prosperous future.

    Best Regards,
    The EconoBEE Team
    www.econobee.co.za

    5Mar, 2024
    March Musings: 3 Months into 2024!

    We have only just begun the third month of 2024 and yet what a busy year it has been; from increases to renewals and a draft thrown in for good measure 😉 – here is a summarised look at what has transpired thus far:

    • EE News: Employment and Labour Minister TW Nxesi introduced new draft regulations in Feb 2024, addressing sectoral numerical targets (Click here to see our newsletter on this topic) Comments are due by the second of May 2024.
    • Minimum Wage Increase: Effective from the first of March, the National Minimum Wage (NMW) for each ordinary hour worked will increase to R27.58. There are some exceptions, so please click here for more information on this.
    • Renewal to the Section 12H Tax Incentive: The recent Budget Speech confirmed that the Section 12(H) Learnership Tax Incentive has once again been extended, this time by three years, until the thirty first of March 2027. Want this benefit for your company? Then call us now on 011 483 1190 and speak to us about our Learnership offerings that provide a range of benefits, are aligned to skills development and include various B-BBEE advantages for companies!

    What has the next few months got in store for us?

    Well, it’s anyone’s guess 😉 Seriously though, we have heard rumblings about QCTO and Transport Sector Codes and so both will be discussed in more detail in future newsletters:

    • QCTO: According to recent reports, the last date of registration for all ‘historical’ (read not-QCTO) qualifications is the thirtieth of June 2023, with a phase-out period of one year for learners to still enrol up to and including the thirtieth of June 2024. Providers offering learnerships, and other skills development programmes, need to ensure accreditation so that they can move over to the QCTO framework ASAP. This is especially important for companies that rely on both of above for B-BBEE level points.
    • Transport sector codes: Expected to be gazetted around March 2024, the Transport Sector Charter (TSC) is set for some big amendments. And, unlike previous other sector and other Code amendments, the TSC has not provided a “grace period” for transitioning. This is very concerning as this may result in some companies obtaining unfavourable B-BBEE status due to the lack of additional planning time.

    As the industry awaits clarity on above, one thing is clear: Adaptation will be crucial for success in the evolving regulatory landscape. Stay tuned for updates as we decipher the implications together.

    Last but not least . . . we want to end off this newsletter discussing our new look at Training and Workshops!

    We are ramping up our webinar offerings and workshops, and will be providing more information on this soon.

    In the meantime, book your space now for our not-to-be-missed Skills Development submissions workshops in March and early April!

    6Jun, 2023
    Employment Equity: More on Sectoral Targets

    We recently announced the changes that have been brought about by the Employment Equity Amendment Act 4 of 2022 in April 2023.

    The proposed Sectoral targets have since been announced for public comment. This means that once finalized designated employers will need to amend their Employment Equity plans to be aligned with the new Sectoral targets.

    There have been several criticisms leveled at the new Sectoral targets, one of which are that it may results in quotas and is not reflective of the current state of representivity in certain industries.

    It is important to note that these sectoral targets are likely to be fine tuned after the public comment, but it is important for designated employer to look at how their employment equity planning will be impacted by the sector targets.

    We will continue to keep you informed about the effective date of these amendments once it is proclaimed by the President. Should you require more detailed explanations and information about these key amendments, please contact our Business Development Team on 011 483 1190