Currently, there are a number of issues and HR-related considerations that employers have to be cognisant of – not least of which is the fact that from April they should expect a COIDA (Compensation for Occupational Injuries and Diseases Act) threshold increase from R355, 752.00 to R377,097.00 per annum.
Why is this significant? Well, firstly it reinforces the fact that as we stand today, there is a great deal of introspection going on as far as government’s role in influencing the ability of people to save and legislation affecting pension payouts.
Secondly, this increase speaks directly to the capacity of businesses to maintain a steady capital outlay plan, because of the increase in the amount that will have to be paid out for claims against these two areas of operation (disease or injury).
So, in addition to the ever-present pressure of legislative changes and influences to the HR and HCM operation, there are very real implications as far as effective fiscal management and application of strategy is concerned.
Evidently, we are in for a very interesting and hugely significant year ahead in terms of HR management.
Fortunately, as we always remind our customers and partners, our highly experienced legislation team is always available for advice and assistance.
Contact them at email@example.com for more information.