Welcome to 2020!
It’s tempting to say that 2019 is gone and there’s no point in starting anything new for the current financial year. The Problem is that we are only getting out of the starting blocks for 2020. If you have a financial year end in February you could set yourself up for panic driven last minute decisions on BEE compliance or miss the boat completely. Here are 3 reasons we should be panicking about our BEE scorecard if your financial year-end is in February 2020.
- Skills Development Expenditure and Points Can Be Maximised Now
If you’re hoping to increase your BEE scorecard value through skills development expenditure, it would have been great to get students enrolled and studying in December, but leaving this to the last minute means we lose out on the salary recognition we would have been able to include in this year’s scorecard. Selecting the right leveraged Category B and C learning programmes enable businesses to claim staff salaries for learners. Doing it now or in early January adds two months of salaries to the skills spending without increasing the overall costs. This is claimable as part of skills development and can be considered as a leveraged investment to increase your scorecard value. Virtual and blended learning courses can start immediately (there is usually no set date to begin or end the course), working students can use the ‘quiet’ time to kick-off their studies while you are able to claim the maximum points for the lowest possible skills development investment. Leaving this to late February will increase the required spending and reduce the number of programs to choose from. Why spend R3-million on training when you can spend R1-million for even more points with a bit of foresight?
