The benefits of employing female youths in your business.
In South Africa, employing female youth can provide significant benefits for businesses, especially in the context of Broad-Based Black Economic Empowerment (B-BBEE). Here are some key advantages:
- Improved B-BBEE Scorecard
- Employment Equity: Hiring young black women can help meet the Employment Equity requirements under B-BBEE, improving your company’s score in this category.
- Skills Development: Investing in the training and development of female youth can increase your points in the Skills Development category, as businesses are incentivized to develop black employees, particularly women.
- Management Control: Employing female youth in managerial positions can positively impact your score in the Management Control element of B-BBEE.
- Enterprise and Supplier Development: Engaging female youth in entrepreneurial activities or developing suppliers run by young black women can boost your score under this category.
- Access to Government Tenders and Contracts
- Tax Incentives
- Enhanced Corporate Image
- Innovation and Fresh Perspectives
- Corporate Social Responsibility (CSR)
- Long-Term Workforce Development
A higher B-BBEE score enhances your eligibility for government contracts, which often require a certain B-BBEE level. Employing female youth can significantly contribute to achieving or improving this score.
There are various tax incentives and subsidies available for businesses that hire young people, including the Employment Tax Incentive (ETI). These can reduce labour costs while supporting economic inclusion.
Demonstrating a commitment to gender equality and youth employment can enhance your business’s reputation. This can attract customers, partners, and investors who prioritize corporate social responsibility.
Young women bring new ideas, perspectives, and energy to the workplace, which can drive innovation and help your business stay competitive.
Hiring and developing female youth aligns with broader CSR goals of promoting gender equality, youth empowerment, and economic inclusion, which can lead to positive social impact and brand loyalty.
By investing in female youth, businesses can develop a pipeline of skilled, loyal employees who can grow with the company, reducing long-term recruitment and training costs.
Incorporating female youth into your workforce not only aligns with South Africa's B-BBEE objectives but also strengthens your business's capacity to thrive in a diverse and dynamic market.