Navigating a company’s B-BBEE scorecard can be challenging. However, with the Youth Employment Service (YES) offers a pathway to gain up to two B-BBEE levels within the same reporting period. By creating employment opportunities for youth, YES not only transforms lives but also unlocks business benefits that drive organisational growth. Businesses can gain up to two levels up on their B-BBEE scorecard, seizing opportunities for business growth while making a meaningful impact on the lives of youth. This blog explores how companies can qualify for the B-BBEE level-up benefit.
B-BBEE explained
Broad-Based Black Economic Empowerment (B-BBEE) legislation was implemented to effect socio-economic and structural change within the private and public sectors, as well as in the broader communities they serve. B-BBEE serves as a fundamental approach for businesses aiming to achieve comprehensive transformation.
Strategic B-BBEE management provides immediate and long-term benefits for companies willing to embrace it with a holistic and innovative mindset. A strong B-BBEE standing can open doors to new clients, contracts, and funding opportunities while contributing to a future-focused economic environment by addressing socio-economic and structural inequalities.
The YES B-BBEE level-up benefit operates outside the traditional B-BBEE scorecard. However, participation in YES and receiving these level-ups are contingent on achieving certain points on the scorecard. Essentially, businesses must be active in B-BBEE and meet specified sub-minimums to truly change lives and benefit from these opportunities.
How to level-up your scorecard in your first YES programme
If you register for your first YES programme before your financial year-end, your business can gain its B-BBEE level-up(s) within the same reporting period. You just need to ensure your YES Youth are contracted before your financial year-end date.
Aligning a company’s financial year-end (FYE) with its B-BBEE legislation is essential for effective planning and tracking progress toward transformation goals. Companies should consider their FYE when strategising, as it influences their ability to fully leverage initiatives like YES to enhance their B-BBEE scorecard. By understanding the importance of integrating transformation efforts with their FYE, businesses can drive meaningful impact, achieve a competitive edge, and contribute to economic growth while creating opportunities for youth.
Join the movement of 1,805+ game-changing businesses
YES is the largest 12-month, fulltime youth employment programme in South Africa. Since its inception, YES has already created over 163,000+ work experiences for youth, contributing a staggering R9.2 billion to the economy through youth salaries alone.
In return for creating critical youth jobs through YES, businesses gain up to two B-BBEE levels. Businesses can place youth internally within their own structures or with YES-vetted implementation partners through their turnkey solution, where YES works with host partners across South Africa to place youth in meaningful roles.
The YES B-BBEE level-up benefit sits outside of the traditional B-BBEE scorecard. Participation in YES and receiving levels up is still dependent on your existing B-BBEE scorecard points. So, if you’re already participating in the B-BBEE space, YES can assist in gaining even more levels on top of your standard strategy.
It's a win-win-win for company, country and youth
By partnering with YES, companies not only contribute to empowering youth but also position themselves for a competitive advantage in the marketplace.
Join the future of change before your financial year-end
Create critical youth jobs and watch your business soar. With the financial year-end fast approaching, now is the time to make a meaningful impact while boosting your B-BBEE score.
Register for the YES programme before your financial year-end and gain up to two B-BBEE levels within the same reporting period.
Partner with YES today. Gain levels. Change lives.
To find out more:
Click here or contact corporatesupport@yes4youth.co.za