The Skills Development Act and various government initiatives aim to create a South Africa that offers more opportunities for our youth through education and training.
Presently, approximately 60 million young people between the ages of 18 and 34 are unemployed, highlighting the urgent need for initiatives to address South Africa's skill deficit. One such initiative is the implementation of learnerships, which not only enhance the skills base across different economic sectors but also create opportunities for both employed and unemployed youth.
However, despite the incentives available, many employers overlook the potential of learnerships. Strategic partnerships for skills development offer numerous benefits, including peace of mind knowing that learners are trained by Accredited Training Providers and provided with valuable workplace experience. This combination of theoretical learning and practical application ensures that learners become more proficient in their chosen field, ultimately benefiting the South African economy through enhanced expertise and skills.
Moreover, companies can leverage skills development initiatives to increase their Broad-Based Black Economic Empowerment (B-BBEE) scorecard. While this is important, it's equally essential not to lose sight of the positive impact that education has on the workforce, the business, and the country as a whole.
With the amended codes placing more emphasis on bursaries, implementing skills development programs may seem costly. However, partnering with consulting firms like Compliance Hub Consulting can ensure maximum benefit from every initiative. These partnerships offer guidance on compliance, assistance with mandatory requirements, and custom-designed solutions tailored to meet the needs of clients.
Furthermore, partnering companies can expect support in aligning with the BEE Amended Codes of Good Practice, access to qualifications across different NQF levels, and assistance with SETA and learner administration management. Additionally, they can enjoy tax savings and possible SETA discretionary grants, along with comprehensive BEE audit preparation for all skills documentation.
By investing in skills development and fostering strategic partnerships, companies can not only meet compliance requirements but also contribute to the growth and development of South Africa's workforce and economy in a friendly and professional manner.