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Updated 28 Sep 2020

How is BEE really viewed in our economy?

BEE is a critical element to your business and compliance is the name of the game.

Nthabiseng Phoshoko, 13 April 2018  Share  0 comments  Print

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When looking at the BEE scorecard, there are a few routes that companies can take to comply. One of the most beneficial being Skills Development as a priority element.

As unemployment continues to surge, this is one of the most beneficial undertakings for any corporate company. Training and education is vital – particularly in fields where we see a gap for talent such as STEM.

Related: BBBEE: A business strategy that makes rands and cents

More than just a compliance tool, we are trying to nurture a globally competitive economy and our people will be our competitive advantage. We have trained more than 4500 learners and have unlocked tapped talent.

Unemployed and disabled persons need opportunities and its up to the private sector to enable this.

Black-female leaders growing in number

Article 8- How Is BEE Really Viewed In Our Economy

This year has seen a spike in black female appointments for top-level positions and an increase in black-owned businesses, however we need to see the policies actively working at grass roots level.

We still sit with an unemployment rate of 26.7% which equates to about 5.88 million people.

While there are many companies who are the exception to the rule, there is always work to be done and that resisting the policies implemented is not an option. Furthermore, BEE agencies should act as responsible citizens to properly guide and aid their clients.

Related: BEE partnerships

Ensuring that your client is 100% compliant and that the solution matches their actual needs is key. By establishing a relationship and investing in a strategic solution, a company will see results – in productivity, performance and through support by Government.

Skills Development in particular (which takes up 18% of the score card) yields significant returns for businesses with SARS providing incentives for various elements.

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About the author

Nthabiseng Phoshoko

Nthabiseng Phoshoko started working at LFP more than three years ago as a Facilitator. She has climbed her way up the ranks and is today the manager of a hardworking and dedicated operations team at LFP Training.

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