YES INITIATIVE
The YES Initiative amends Code 000 (General Principles and the Generic Scorecard) of the DTI Codes of Good Practice with immediate effect.
To qualify for registration under the YES Initiative:
- A generic entity must meet the 40% sub-minimum requirements of the three priority elements or achieve an average of 50% across these priority elements instead.
- A QSE can achieve an average 40% performance across two priority elements instead of achieving a minimum 40% under ownership and one of the other two elements.
- The measured entity must ensure that they maintain or improve on the B-BBEE status level achieved in the previous year.
- An EME does not have to meet any specific requirements.
- YES targets for generic entities:
- 1.5% of the entity’s headcount or
- 1.5% of the entity’s average NPAT in the last 3 years converted to headcount number by dividing that NPAT number by R55 000 or
- The targets provided in a table based on revenue range from R50m = 6 youths to R500m = 15 youths.
- The highest result must be selected for your YES targets.
Targets for QSEs & EMEs are according to a table based on headcount ranging from 1-19 = 1 youth to 799 = 40 youths.
Eligible individuals to be hired under the YES Initiative are black people between the ages of 18 and 35.
Where the measured entity is unable to create sufficient new jobs, they may sponsor qualifying new jobs in EMEs or QSEs.
The benefit of utilising these YES provisions is that the B-BBEE recognition level of the measured entity can be enhanced as follows:
- Achieve YES target + 2.5% absorption of the youth: 1 Level
- Achieve 1.5 x YES target + 5% absorption of the youth: 1 Level + 3 bonus points
- Achieve 2 x YES target + 5% absorption of the youth: 2 Levels
It should be noted that this gazette does not change priority element compliance requirements whereby missing a 40% sub-minimum requirement results in the loss of a B-BBEE Level. But an entity can now re-gain that level under the YES initiative and indeed, achieve a further level by greater YES performance. 50% of Informal Skills Development expenditure for YES employees can be included under Cat F & G on the Skills Development scorecard.
Interested in the YES initiative?:
(If you are looking for employment you can view job listings here. Do not use the below form to apply for a job.)
