What Are The Benefits Of Upskilling Your Employees?
So, we seem to have started off the year a bit ‘late’. With matric results being released in the year following exams, and varsity registrations being delayed, it feels like we are still in the beginning of the year when actually we are approaching the end of the first quarter! What does this mean for businesses? Work place Skills Plans are soon due! :
The time of year is approaching when all companies must submit their WSP (Workplace Skills Plan) discussing the planned and completed skills development of their employees. Says Taryn Steenkamp, Corporate Skills Development Manager at Boston, “This means that while you will record the training as planned on this year’s WSP, by this time next year it will be recorded as completed as you will be able to submit the costs of the training as part of your skills development.
This is a labour department requirement, and Boston is easily available to facilitate this for you.” Taryn continues saying that Boston is best placed to assist companies with their skills pans as well as skills needs. “We have departments that will cover all training needs, from group learnerships to individual bursaries. And there are so many reasons why you SHOULD invest in your employees and ensure they upskill with accredited training”.
Employers used to be concerned about the loss of an employee’s time when they commit to studies. However Boston has a “Study anywhere, anytime” methodology. Carry on seamlessly with home life or work life while you complete any Boston qualification.
What are the benefits of upskilling your employees?
- Investing in employees’ career development improves employee retention.
- Boosts staff morale.
- Increases customer satisfaction: happy employees lead to happy customers!
- Attracts new talent.
Why spend on skills development initiatives?
Your company can claim B-BBEE points for the money you spend on skills development, for direct and indirect training costs. This could be for employed or unemployed people, and the spend includes costs associated with non-recoverable bursaries and internal or external training.
Will your company be able to claim a portion of their spend on skills development?
If your company pays levies to a SETA, you will be able to claim a portion of the money you spent on training through the Mandatory Grant provision, provided you have submitted you annual Workplace Skills Plan (WSP) and Annual Training Report (ATR) by the due dates.
Please consult you SETA SSP (Sector Skills Plan); it provides an outline of the critical and scarce skills for your sector, and enables you to structure your training accordingly.