A guide to Employment Equity and Skills Development compliance

In view of the current pandemic of COVID 19 which has virtually led most business operations to a halt; it is envisaged that companies will need to put in contingent plans to continue existence. It is further expected that many businesses will be imposing moratoriums on recruitment and non-essential skills development which will have an impact on employment equity and skills plans. This webinar will highlight on how business can remain compliant during and post COVID19 pandemic.

In this webinar we discussed the best approaches for businesses to remain both procedurally and substantively compliant in respect of skills development and employment equity aspects such as:

• The business and legislative risks are you exposed if you are or become non-compliant;
• How to leverage scarce financial resources for skills plans by tapping into all available funding;
• Pending changes to the EE Act; and
• Statutory responsibilities and reporting requirements.

Due to the negative impact of COVID-19 on business profitability and related impact on business valuation, many companies find themselves in a situation where their BEE transactions are underwater.  This will result in Net Value points dropping below the subminimum level, and a reduction of between one and two BEE levels.

This may impact the ability to do business with existing and future customers, and may also result in breach of customer and licensing contracts.

A strong BEE scorecard will continue to be important, even if it may not seem an immediate priority.

In this webinar we discussed our recommendations on dealing with existing BEE transactions:

1. Assessing the impact of COVID-19 on current BEE transactions and Net Value points
2. Considering the options of:
   • Waiting out the crisis for value to return; or
   • Restructuring the current transaction,
3. Communicating to BEE shareholders as to the current position and the proposed options available for the parties.

Structuring new BEE transactions can be expensive and time consuming. This is the time when management effort and funds should be focused on sustaining businesses. It is worth understanding the options to salvage the existing transaction, particularly if done without significant debt write off – thus maintaining shareholder value for all parties.

Please let us know if you would like to speak to one of our ownership specialists by contacting us here.

We look forward to welcoming you.

BEE Ownership for small and medium-sized businesses

Given the overwhelming response we received when we first ran this webinar on 24 April 2020, we have decided to rerun our webinar on BEE Ownership for small and medium-sized businesses. Book your seat now.

PAST WEBINAR

Topic: BEE Ownership through Employee Ownership

PAST WEBINAR

Topic: Accredited skills development initiatives for persons living with disabilities, that really make a difference.

Are you optimising your Skills Development initiatives and realising the benefits of a diverse and inclusive workplace?

BEE Audit Preparation – preparing for and conducting BEE audits remotely – ensure you get the score you have planned for

With the “new normal” of working remotely and BEE audits being conducted remotely, what does this mean for your next BEE audit?

With the BEE audit process constantly evolving and verification agents under tight scrutiny, it’s increasingly imperative that you are well prepared for your next BEE audit.

This webinar recording is for you if:

• You are facing your next BEE audit and would like to be appropriately prepared to realise your BEE scorecard goals
• You’d like to know what supporting documentation is required for your submission
• You’d like to know which legislation governs the BEE audit process
• You’d like to know what interpretive stances are relevant to ensuring that your pre-audit BEE score is realised
• You’d like to understand how Transcend can assist you to prepare for your next audit

Should you need pre-audit assistance, we have a team of consultants who can assist you in preparing for audit, every step of the way. Please click here to get hold of a consultant.

We look forward to welcoming you.