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    25Feb, 2025
    Closing Off February: Skills Development, Wage Updates & What’s Next

    As we bid farewell to February, we find ourselves reflecting on both the business and personal moments that this month has brought. It’s been a month of opportunities, growth, and new beginnings, much like the excitement of a fresh chapter in both the workplace and in life. Whether you’ve been busy meeting deadlines or enjoying a little extra time with loved ones, February has been a reminder of how quickly things change and how important it is to stay on top of what matters.

    With the month winding down, let’s take this moment to keep you updated. Here are some key updates to keep on your radar:

     

    📌 Skills Development Submissions Are Open—Don’t Miss Out

    The window for submitting your Workplace Skills Plan (WSP) and Annual Training Report (ATR) is officially open! Beyond ensuring compliance with the Skills Development Act, these submissions can unlock valuable SETA grants and contribute towards your B-BBEE score. If you need assistance navigating the process or want to make sure you’re maximizing your benefits, our team is here to help.

     

    📌 Catch Us at the Buy Local Expo!

    We’re excited to announce that we will be exhibiting at the Buy Local Expo 2025, hosted by Proudly SA, on 17-18 March at the Sandton Convention Center. This event is all about celebrating South African businesses and creating opportunities to connect and grow. If you’ll be there, let’s meet up!

     

    📌 Minimum Wage Increase – What It Means for Your Business

    The recent increase in South Africa’s National Minimum Wage (NMW) affects businesses across various sectors, including those participating in the YES (Youth Employment Service) programme. For YES Youth working 40 hours a week, the new minimum wage is now R4 992.00 per month, which is an increase of R210.00 from the previous rate.

    Additionally, the contributions for Skills Development Levy (SDL) and Unemployment Insurance Fund (UIF) will also rise. These contributions are now calculated at 1% each of the new minimum wage, which brings the total employer contribution to R99.84 per youth per month, resulting in a total increased wage cost of R5 091.84 per youth per month.

    If your YES Youth wages are managed through YES, you will soon receive an invoice for the required minimum wage top-up contribution. If you need assistance adjusting to these changes, we’re here to help!

     

    🔹 Let’s Keep Your Business on Track

    Whether it’s Skills Development, wage compliance, or broader B-BBEE strategies, we’re here to support you. Reach out to us on 011 483 1190 or info@econobee.co.za, and let’s make sure your business stays ahead.

    Looking forward to a productive month ahead!

    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!