Gazetted on 29 March 2018, The Youth Employment Service (YES), intended to provide work opportunities for black youth between the ages of 18 and 35. This transformative endeavour by the Government aims to lower the increasingly high levels of unemployment in South-Africa to provide 12 month or fixed-term employment contracts.
The YES initiative intendeds on incorporating its implementation into the Skills Development element of the Amended Broad-Based Black Economic Empowerment (B-BBEE) Scorecards according to a company’s annual turnover and/or headcount should such turnover be below R50 Million.
Although the initiative has not been promulgated since being published in March 2018 the below are examples of how the integrated service would favour B-BBEE recognition:
- Achieving the YES Target and 2.5% Absorption (permanent employment after programme) would allow a business to move up 1 B-BBEE recognition level on the scorecard.
- Achieving 1.5 times the YES Target and 5% Absorption would allow a business to move up 1 B-BBEE recognition level and 3 bonus points on the scorecard.
- Achieving double the YES Target and 5% Absorption would allow a business to move up 2 B-BBEE recognition levels on the scorecard.
The qualifying criteria are as follows:
- 40% sub-minimum in each priority element, or alternatively:
- 50% average across the 3 priority elements.
- YES is additive, meaning that entities must maintain or improve previous years B-BEE levels before participating.
- Full scores on the applicable scorecard must also be achieved relating to bursaries for black students to attend Higher Education Institutions.
- The target is for scholarships and bursaries which constitutes 2.5% of the company payroll.
To read more on this initiative please visit the official YES website at www.yes4youth.co.za
ABOUT THE AUTHOR
Megashlin Naidoo has been with SEESA since 2014 and is a SEESA BEE and SEESA Labour Legal Advisor. He is an Admitted Attorney from the Zululand District with a professional background in Criminal- Civil- and Family Law, Insurance and Compliance.