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    31Jan, 2024
    Uncovering Potential: Youth Empowerment at EconoBEE with the Y.E.S Initiative!

    Dive into the inspiring journey of Thabo Nkosi, a dynamic individual who has embraced the transformative power of the Youth Employment Service (Y.E.S) Initiative at EconoBEE.

     

    🌟 Introducing Thabo Nkosi: A Visionary from Alexandre, Johannesburg

    A 20-year-old ace from Alexandre, Johannesburg, whose experience at EconoBEE has been nothing short of inspiring.

    Now here’s how our short conversation went with Thabo:

    Q: What motivated you to join the Y.E.S Initiative program and work at EconoBEE? A: “I was motivated to join the Y.E.S Initiative program and work at EconoBEE because of the organization’s commitment to fostering youth empowerment. The program’s focus on providing opportunities for young individuals aligns with my desire to contribute meaningfully to the workforce and gain valuable experience in the corporate world. EconoBEE’s dedication to skills development and empowerment was a compelling factor that drew me to the initiative, plus I loved the fact that it was a 100% black-owned entity.”

    Q: How have your career aspirations evolved as a result of your experience (so far) at EconoBEE? A: “One significant experience that profoundly impacted both my personal and professional growth at EconoBEE was taking part in the workshop aimed at educating clients more about the benefits of being B-BBEE compliant. This project required collaboration across departments, honing my teamwork skills. The challenges encountered during this initiative taught me the importance of adaptability and effective communication.”

    Q: In what ways do you believe programs like Y.E.S can bridge the gap between education and employment for young talent in South Africa? A: “Programs like Y.E.S play a crucial role in bridging the gap between education and employment for young talent in South Africa. By providing practical work experience and exposure to real-world challenges, these initiatives equip young individuals with the skills and knowledge necessary for a successful transition into the professional arena. Additionally, Y.E.S fosters a culture of mentorship and guidance, further enhancing the development of young talent and preparing them for the demands of the workplace.”

    Q: What advice would you offer to other young individuals considering participating in programs like the Y.E.S Initiative? A: “To young individuals considering participating in programs like the Y.E.S Initiative, my advice is to embrace the opportunity wholeheartedly. These programs offer a unique chance to apply theoretical knowledge in a practical setting, develop essential skills, and build a valuable professional network. Be proactive, seek mentorship, and view challenges as opportunities for growth. The experiences gained through such initiatives can shape a fulfilling and successful career path.”

    🌟 A Heartfelt Thank You to Thabo Nkosi!

    We extend our deepest gratitude to Thabo Nkosi for his outstanding contributions to EconoBEE. Your dedication, hard work, and transformative experiences have not only shaped your own journey but have enriched the fabric of our Y.E.S Initiative. Thank you for being an essential element in our pursuit of youth empowerment and excellence!

    Interested in contributing to this transformative initiative? Partner with EconoBEE and be a catalyst for change!

    15Mar, 2022
    EconoBEE wins a YES Programme related Case for our Client!
    The YES4Youth Programme is a fantastic initiative that is focused on eradicating the high unemployment rate amongst South African Youth. The programme encourages companies to provide unemployed Youth with 12-month work experience (that can be added to their CVs), as well as possible permanent placement within their ranks. However, as it relates to B-BBEE, there are still a few points that need to be cleared up:
    1. Can accommodations be made for extenuating circumstances?
    • EconoBEE recently experienced a unique situation in that a company had embarked on their second year of the YES Programme as a QSE. They had met all targets identified on the QSE Scorecard in order to maintain their Level 2. However, after the financial year ended, the financial statements stated that this company’s turnover exceeded the QSE threshold, therefore making them a Generic. As a result, this company had not been able to maintain the Level 2 as planned.
    • This resulted in the verification agency not awarding the company their YES Benefit.
    • EconoBEE decided to take this scenario to the DTI on our clients behalf, we presented the evidence to show that had the company’s turnover stayed in their QSE threshold, they would have maintained the Level 2.
    We won the case, and our client was able to add the YES Benefit to their scorecard!  
    1. Who qualifies to use the YES Programme and obtain B-BBEE Benefit?
    • First time companies must achieve a compliant B-BBEE Certificate in order for the YES Programme to be applied at audit stage.
    • If a company would like to continue with the YES Programme for a second year, said company would need to maintain (or improve on) their previous B-BBEE Level. Therefore, if you achieved a Level 4 in your first year using the YES Programme, you will have to maintain the Level 4 in the second year.
    • Should the previous level not be maintained after verification, the YES Benefit will not be awarded.
     
    1. Does the YES Programme work according to a Company’s Financial Year (much like B-BBEE does)?
    • Like B-BBEE, the YES programme does rely on a company’s Financial Year, however this is only in relation to the payments and registration. All payments to the YES Programme (Company Registration Fees as well as Youth Registration Fees), must be paid to the YES Programme before the end of a company’s financial year.
    • In addition to this, all Youth should also be registered on the system within the same Financial Year.
    • The financial year referenced above, would be the same financial year that a company would be verified on for B-BBEE purposes, which is why these payments need to be made in the same year.
     
    1. Duration of the YES Programme:
    • The YES Programme is a 12-month Programme and the B-BBEE benefit can only be awarded in the below instances:
    • Year 1: any company that is implementing YES for the first time can be awarded the B-BBEE benefit immediately, without the Youth needing to complete a minimum number of months.
    • Year 2 and Beyond: any company that continues on the programme from year 2, will need to ensure that the YES candidate complete a minimum of 8 months on the programme (each year) in order to be awarded the Yes benefit.
      Contact EconoBEE now to help guide your company with cost-effective strategies to maximise your scorecard and ensure your compliance to the objectives of the B-BBEE Act.