Tackling your company’s B-BBEE scorecard can often feel overwhelming. However, with the right information, advice, tools and YES, you can plan your B-BBEE strategy for 2024 and beyond. Have the mindset to tackle this task in a way that suits your business today, and unlock benefits that will serve you well into the future.
What Is B-BBEE?
Broad-based black economic empowerment (B-BBEE) legislation was implemented as a vehicle to positively effect socio-economic and structural change within the private and public sectors, as well as the broader communities in which they operate. It is one of the methods through which a business can begin to totally transform.
Strategic B-BBEE management offers business immediate and long-term benefits. Good B-BBEE standing can open the door to new clients, contracts and funding opportunities and build a future-focused economic environment by helping address the socio-economic and structural inequalities.
Transforming businesses, empowering youth, and elevating B-BBEE impact with YES
YES is the largest private sector led job creation initiative affecting broad-based change and creating meaningful, measurable impact across sectors, provinces and communities in South Africa. Since inception, over 135,913 work experiences have already been created for youth, injecting R7.4 billion back into the economy.
In return for creating youth jobs through the YES programme, your business can gain up to two B-BBEE levels. Businesses can place youth internally in their own structures, or in YES vetted host partners through the turnkey solution. Through the turnkey solution, YES works with host partners (generally NPOs and small businesses) across South Africa to place youth.
The YES B-BBEE Level Up Benefit sits outside of the B-BBEE scorecard, however, participation in YES and receipt of level up(s) is dependent on points on the scorecard. So, if you’re already operating within the B-BBEE space, YES is an effective way to gain levels over and above your standard B-BBEE strategy.
All you have to do is meet your YES quality work experience (QWE) target which can be calculated on our website at www.yes4youth.co.za, and then absorb 2.5% of those youth at the end of the YES year to get one B-BBEE level up. Double this and receive two levels up while changing even more youth lives!
If you register for your first YES programme before your financial year-end, your business can gain its B-BBEE level up(s) immediately. You just need to ensure youth are contracted before their financial year-end date.
Businesses have an opportunity to make a meaningful impact through B-BBEE transformation and YES. Join the movement of over 1,600 businesses who have already registered with YES and are changing youth lives.
Calculate your target to gain B-BBEE levels and change youth lives. Find out more at yes4youth.co.za
