Implementing B-BBEE

Implementing BEE

The primary goal is to strengthen and expand the business' BEE reputation within the financial and real estate sector.  To do this, your organization must provide all stakeholders the ability to carry out a BEE strategy within your business. 

A business will be able to get better contracts if it is BEE compliant, and it also legitimizes the business. 

There are several advantages to integrating a BBBEE strategy within a business, after training has taken place, there are more employable employees because the staff members abilities have improved. 

Implementing training is one method that your business can use to raise its BBBEE score, as spending on training and development receives 20 points. In addition to the 20 points, businesses are allowed to deduct up to 40% of the cost of any employee training in the real estate and financial sector. 

These Are The General Advantages of B-BBEE Training

  • Improved company image, such as when ethics training is conducted 
  • Risk management techniques include diversity education and sexual harassment training
  • A greater ability to adopt new techniques and technology within the financial and real estate sectors
  • Increased innovation of products and strategies
  • Improved staff morale and work satisfaction
  • Increased drive among the workforce
  • Process efficiency improvements that produce a profit
  • Decreased staff turnover

It is essential to make sure that every training session is documented so that it can be quickly submitted for the BEE audit.

Getting The Most Out Of BEE Training

One of the simplest components to earn points is by upskilling. If the business devotes 6% of payroll to the training of black workers, 8 points can be obtained. If 0.3% of the total payroll is used to fund learning programs for impaired Black employees, an additional 4 points can be gained. 

A corporation may receive an additional 4-points for taking part in learnerships, apprenticeships, or internships if 2.5% of the workforce is enrolled in such programs, and an additional 4-points if 2.5% of the workforce is made up of black jobless learners.

Critical That Training Be Done Well 

If all the unemployed learners are employed at the end of the learnership, an additional five bonus points can be obtained. This is to positively contribute towards the number of employed as well as growing your business. 

Phoenix finance can assist with implementing BBBEE in your real estate company. Both working and unemployed people can benefit from training. Your company's training requirements can be met with the help of a number of recognized qualifications and short learning programs provided by both private and public institutions. 

Numerous registered learnerships offered by Phoenix Finance can help businesses meet their training and development needs.

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