Money back for investing in your employees, let’s guide you through the process…
It’s that time of the year… and South African employers who want to take advantage of the money-back guarantee on employee investment should be mindful of the fact that the Workplace Skills Plan (WSP)/ Annual Training Report (ATR) submission deadline is on 30 April.
For some companies, it is an arduous and challenging undertaking to ensure compliance and the timely delivery of the SETA report. For most businesses, there is a genuine desire to invest in skills, but also secure the return on investment.
We want our market to know that we are in a position to help, and we have the expertise to add value.
Some decision makers may ask: what has this submission deadline got to do with us. After all, not every business will take on training and skills development or investment in employees at the same time.
In our experience the more knowledge one has of the HR market, the better – and the more information, the better.
The fact is that each business sector has its own SETA (Skills Education Training Authority) and the Skills Development Act requires employers to submit a WSP and ATR to their respective SETA at the end of April.
It is worthwhile noting that employers with a total salary bill of R500 000 + over a 12 month period are required to pay SDL levies to SARS every month. SARS distributes these fees to the respective SETAs which in turn is allocated to grants.
Here is the exciting part (especially those businesses focused on building their workforces): Up to 20% of the invested monthly amount can be claimed back from your SETA for all training, including internal training expenditure, to develop your employees. SETAs offer mandatory grants to employers investing in their employee development. Discretionary grants are also granted to develop scarce skills.
I feel it is important to stress the valuable assistance that CRS Technologies can offer. Our legislation division can advise you on the best practice process to comply with legislation, compile your WSP/ ATR and Pivotal Skills report, optimise your BBBEE score and help to increase the financial benefits for your organisation.
For the months from February until the end of April, CRS can assist you with the successful delivery of your SETA report submission.
Don’t delay… contact us today! Email us at firstname.lastname@example.org to schedule a conversation.
Read more: WSP & ATR Madness