Turning Strategy into Action: How Workplace Skills Plans Can Help!
Apart from achieving compliance and earning financial rebates, a Workplace Skills Plan (WSP) can add strategic value to your business. The deadline for WSP submissions is 30 April each year.
THE PURPOSE OF A WSP
- To formulate a strategic training and development plan aligned to industry and operational needs against the skills shortages in South Africa. The target audience is both employed and unemployed.
- The training plan is delivered over a period of 1 year. Between submission, 30 April each year and the SETA year end on 31 March.
- ROI is the mandatory grant funding which is calculated as 20% of the 1% of the skills development levies paid annually by a business to SARS. Discretionary grant funding is also available but not guaranteed. The funding is provided for future projects and cannot be used as a claim back process for projects done or in progress.
Ideally your training plan should be comprised of three components:
- Operational skills required in the business.
- Budget allocation for planned training aligned to targeted BBBEE spend.
- Interventions selected to address Employment Equity numeric targets.
HOW WE CAN ASSIST YOU
- Using your targeted B-BBEE spend, Economically Active Population (EAP) targets and targeted headcount as the foundation and budget allocation of your plan.
- Building in your Employment Equity numeric targets (see page 12 of the Template for Employment Equity Plan).
- Formulating your WSP, ensuring that we under promise to allow you to over deliver.
- Building a one to three year training plan for you – year two and three can be amended should anything change within the business.
- Incorporating skills development best practice into the plan such as progression of learning, succession planning (see our Employment Equity issue next), competency frameworks and leadership development.
- The final training plan will incorporate ALL of your regulatory compliance targets and requirements and provide you with a financial forecast for each of the three years.
VIDEO: HOW TO HACK YOUR WSP & ATR IN 5 SIMPLE STEPS
By knowing these 5 simple steps, you can easily change the way you approach your WSP submission. This will help you to focus your time on entrenching a real culture of learning, growth and development in your business.
Continue to watch this space! We will be releasing our Employment Equity issue next. In this issue, we will explain all you need to know about Employment Equity and how this is linked to all the other elements in our Skills Development Game Plan. We will also introduce you to our FREE Succession Planning Toolkit and share insights from a recent webinar.
At any time during this series, we invite you to connect with us and Book A Free Consultation.