14 May 2021
A large number of companies underestimate the potential of skills development and the positive impact that it can have on their business, especially if you have to spend on the Skills development Element for BEE purposes. We at Invictus understand the necessity of a decent BEE score and the enormous cost that can be incurred when it comes to achieving a decent BEE level.
Skills are considered the most expensive element of your BEE scorecard, but if implemented correctly it can be seen as “low hanging fruit” in terms of obtaining points for skills development. Invictus has developed a solution that will not only reduce the cost of your skills development but will also assist your company in drawing up a skills workplace plan that will ensure maximum points for the skills development element of your BEE scorecard.
Apart from the tremendous financial saving that a properly planned skills development process brings , below are just some of the advantages of submitting your yearly skills reports to the relevant SETA:
- Upon approval of your submitted skills report you receive 20% of the yearly Skills Development Levies back from the relevant SETA, which is known as a mandatory grant.
- As a levy paying company you are also entitled to further skills funding from the relevant SETA to assist your company with the skills development of employees, which is known as discretionary grant funding.
- You will also be entitled to R1000.00 discount per learner below the age of 30, earning less than R6000.00 monthly on your PAYE per month.
Skills development is considered to be the most expensive element of BEE. Invictus is able to assist in reducing the cost of this element tremendously.
To ensure that your company does not miss out on the benefits of the skills development process, you will need to ensure that your Training report and your workplace skills report is submitted to the relevant SETA. Invictus works along with the relevant stakeholder within your company to ensure that you reach your target BEE level, while keeping the costs as low as possible.
Contact Invictus on 0861 737 263 for any queries/assistance regarding the skills development at your company.
