Companies with an annual payroll exceeding R500k, or with more than 50 employees must submit their Workplace Skills Plan (WSP) by 30 April
Companies will have to submit their Workplace Skills Plans to the relevant Sector Education and Training Authority before 30 April. Image:iStock
If you’re looking to up your Broad-Based Black Economic Empowerment points, then submitting your WSP is key.Failure to meet the deadline could earn you significant penalties, and cause you to lose the benefits of your L & D investment – compromising your BBBEE score.Warning against non-compliance, Visser said companies could lose 20 skills development points, causing their BBBEE to drop by two levels.
“This means losing invaluable opportunities to improve the skills of your own employees and your business competitiveness suffers as a result.” “When done in the proper spirit and intent of the WSP and BBBEE scorecard, it’s a strategic enabler to competitive advantage for your business and your people.
Visser said the WSP is a strategically important document as it defines an organisation’s business plan for employee skills development – and is integral to unlocking the Skills Development component of the BBBEE Scorecard.
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