Signa held a joint session with Mantis Networks in Midrand on Wednesday 19 May 2018 with over 110 delegates. Representatives included corporate B-BBEE officers, verification agencies and consultants to workshop the proposed new B-BBEE amendments and the introduction of the Youth Employment Service (YES) incentives into B-BBEE regulation.
Tashmia Ismail-Saville, CEO of YES opened the session to introduce the Youth Employment Service.
Youth Employment Service (YES)
The Youth Employment Service is a national movement to ignite the potential of South Africa’s youth.
28% of South Africa’s population is between the age of 18 and 35. The unemployment rate in this age bracket is estimated at 36%.
Finding solutions to youth unemployment is a national priority, and YES is a business-led collaboration with government and labour to address this priority.
Its intention is to stimulate demand-side job creation through company investment and leveraging existing Employment Tax Incentive and B-BBEE recognition.
The initiative focuses its efforts in 3 areas where employment creation efforts are likely to have the greatest benefits:
- Creation of job opportunities in existing firms intended specifically for youth
- Promoting the capacity of Small, Medium and Micro Enterprises (SMME’s) with paid for youth labour
- Creating new Cohorts of SMME’s, through value chain initiatives and knowledge spill-over in collaboration with industry champions
Tashmia stressed that large enterprises cannot do this alone, and it is going to require buy-in from businesses of all sizes to meet these objectives.
The YES target is to create one million jobs