🚩B3 E2 | The B-BBEE carrot vs the stick approach
BEE CHAMBER / 08 OCTOBER 2020 - 05.23 / POOVAN GOVENDER
Issue 26 of 2020 | BEE Chamber members newsletter brought to you by TFM Magazine
Although it is peripheral legislation, the Employment Equity Act takes the stick approach to compliance. At the same time, B-BBEE uses the carrot approach aligned with the B-BBEE Act to encourage organisations to Transform.
Therefore, by their design, each element of the Codes has a built-in mechanism to promote transformation by allocating targets and then awarding performance-related Weighting Points which culminate in B-BBEE credentials that may present a competitive offering. This communique supports organisations in reaching sustainable B-BBEE milestones and driving economic inclusion by addressing legislation and interpretation topics that are critical to an organisation's overall scorecard.
The focus of this week's topics is on:
Will there be a Scorecard impact after lockdown?
What are the implications when a ‘YES’ Employee drops out of a programme?
Claiming training costs; and
An article of Transforming Interest | The Defence Sector Code.
Please register here to attend the monthly BEE Chamber TFM Webinar series on the first Tuesday of each month between 09H00 and 11H00. This interactive and informative session reviews the application of technical articles covered in the newsletters over the last month.
If you feel your organisation is benefiting from the weekly newsletter, why not investigate the benefits of upgrading your membership to become a Practitioner or Professional Member, which includes technical webinars, open support, free collection of supplier certificates and discounted scorecard software.