The Youth Employment Services (Y.E.S) initiative was gazetted on 28 August 2018 with an accompanying practice note on 12 October 2018.
This initiative will be run and monitored by the Yes-4-Youth non-profit organisation. Should an entity wish to implement and take part in the Y.E.S Initiative they need to register on the Yes-4-Youth website at www.yes4youth.co.za. If you do not register on this website you will not be able to claim the enhancement for your Broad-Based Black Economic Empowerment (B-BEE) certificate.
The initiative’s main purpose is job creation for individuals who qualify in terms of the requirements as gazetted. Only individuals who meet the following criteria are eligible for participation under the Y.E.S Initiative:
- Between the ages of 18 and 35;
- Meet the definition of “Black People” as defined in the B-BBEE Act.
Before an entity can register with Yes-4-Youth an entity needs to comply certain pre-requisites. Once these pre-requisites have been met, the entity can proceed to calculate the targets they will have to implement. Please ensure you contact your legal advisor to assist you with the calculation of the necessary targets.
Why is it important for an entity to implement and take part in the Y.E.S Initiative?
If the entity complies with the pre-requisites and they implement Yes-4-Youth correctly, they will be able to obtain the following enhancements on their B-BBEE certificate:
|Achieve Y.E.S Target and 2.5% Absorption||Move 1 B-BBEE Recognition Level up on the Scorecard|
|Achieve 1.5 x Y.E.S Target and 5% Absorption||Move 1 B-BBEE Recognition Level up on the Scorecard + 3 Bonus Points to the overall Scorecard|
|Double Y.E.S Target and 5% Absorption||Move 2 B-BBEE Recognition Levels up on the Scorecard|
With the high unemployment rate we are experiencing under our youth in South Africa the Y.E.S initiative is truly something that entities can invest in, not just for B-BBEE purposes but also for the economy of South Africa.
ABOUT THE AUTHOR
Geralene van Wyk obtained her BA (Psychology) and LLB degrees from the North-West University. After her studies, she completed her articles in Pretoria and was admitted as a practising attorney in 2006 and a conveyancer in 2007. She joined SEESA BEE in 2011 as a legal advisor and is currently a SEESA BEE National Training Senior Legal Advisor at the Pretoria Head Office.