Don’t waste your Skills Development spend; invest it in a high-value talent pipeline
Many companies treat skills development as a tax, and waste their budgets on low-value programmes that don’t produce employable graduates.
There’s a better way: we help our employer partners to treat skills development as an investment in the specific, high-value digital skills and talent they need to grow their businesses.
Read on to learn how Umuzi can help you to maximise the return on your skills development investment.
What do you need to spend on Skills Development?
The skills development target-spend has increased to 6% of leviable amount.
Whilst the target has essentially doubled, companies can now use their skills development spend on unemployed people outside their organisation, for example, on bursaries. Previously bursary spend counted towards Socio Economic Development. Now bursaries are recognised under Skills Development. Furthermore, the amended codes also include other learning programmes such as internships and apprenticeships which were previously excluded.
The target for the number of black employees on a learnership, internship and apprenticeship is 2.5 % of headcount.
Umuzi can help you invest your skills development budget in high-value digital learnerships and bursaries, tailored to your specific needs.
How important is Skills Development?
Under the amended BBB-EE codes, Skills Development makes up 20 points on the scorecard and is one of the priority elements. Employers need to attain a minimum of 40% of the maximum 20 points i.e. 8 points. Failure to meet this minimum target will result in the company dropping one level on the scorecard.
In addition, there are 5 bonus points for the retention of learners. This applies to whether your company has retained them or whether they found employment elsewhere, within a permanent capacity or on a fixed term basis.
Over 80% of Umuzi’s learners are absorbed by our employer partners, ensuring they maximise their retention bonus points.
We’re ready to help you with Skills Development
Umuzi’s Skills Development Team is a registered Skills Development Facilitator (SDF) and helps our employer partners compile their Annual Training Report (ATR) and Workplace Skills Plan (WSP). This enables our employer partners to claim back a portion of their levies as well as apply for SETA funding to subsidise their training investment.