South Africa’s youth are its future, but a staggering unemployment rate stands in their way. With millions of young people struggling to find work, innovative solutions are crucial. Businesses seeking to achieve Broad-Based Black Economic Empowerment (B-BBEE) goals can play a vital role in addressing this challenge.
At Signa Advisors, we understand the complexities of navigating B-BBEE compliance. However, we believe compliance shouldn’t be viewed solely as a box-ticking exercise. Our vision extends beyond achieving scorecard targets, focusing on creating a lasting positive impact. This is where the Youth Employment Service (YES) programme comes in. YES offers a powerful solution for businesses seeking to fulfil their B-BBEE obligations while simultaneously contributing to a brighter future for South African youth. As a trusted B-BBEE advisor within the Signa Group, we possess a deep understanding of YES and how it can be leveraged to achieve compliance and social impact simultaneously.
What is the YES programme?
The Youth Employment Service (YES) programme is a collaborative effort between business, government, and labour. The core focus of this initiative is to provide workplace experience to young people between the ages of 18-25, and participating businesses are required to host a YES youth for a 12-month period .
The Youth Unemployment Crisis in South Africa:
Statistics paint a grim picture. According to the Quarterly Labour Force Survey Q4:2023, a staggering 4.7 million young people aged 15-34 are unemployed in South Africa. This translates to over four in ten young people not being in employment, education, or training. The long-term effects are equally concerning, with delayed entry into the workforce leading to fewer skills being developed and impacting future earning potential. This cycle can trap young people in unemployment or underemployment, further hindering their economic participation.
YES: A Win-Win for Businesses and Society:
YES goes beyond simply being a B-BBEE compliance tool. Participating businesses gain access to a pool of talented and eager young people, potentially contributing to a more skilled and diverse workforce.
More importantly, YES empowers young people by providing them with a crucial first step on their career journeys. Valuable work experience, mentorship, and workplace readiness training equip them with the skills and confidence to secure future employment. This aligns perfectly with the Signa Group’s #powerofone philosophy. By offering a YES youth a chance, businesses are not just fulfilling a B-BBEE requirement, they are empowering a young person to build a brighter future.
The YES initiative provides the perfect platform to ensure meaningful impact through the businesses we work with.
Kgomotso Makoro, General Manager at Signa Opportunity
Signa Opportunity, a company within the Signa Group, exemplifies this commitment. They have successfully placed over 1000 young people in work experience opportunities, demonstrating the programme’s potential.
Partnering for Impact: Signa Opportunity and the YES Programme
At Signa Advisors, we leverage our expertise in B-BBEE strategy to help businesses explore the YES programme as a way to achieve their compliance goals while making a positive social impact. To ensure a smooth and impactful YES programme experience, we partner with Signa Opportunity, the YES programme implementation specialists within the Signa Group. Signa Opportunity offers a comprehensive suite of services, including youth placement, mentorship programmes, and customised solutions, ensuring a successful programme for both the company and the YES youth.
Your next steps to unlock the power of YES:
The YES programme offers a unique opportunity to address South Africa’s youth unemployment crisis while achieving B-BBEE compliance goals. By partnering with Signa Advisors, your business can leverage our expertise in B-BBEE strategy and YES programme integration. We will work seamlessly with Signa Opportunity to ensure a successful and impactful programme for your company and the young people involved.
Unlock the potential of YES today. Contact us today to learn more and discover how we can help you implement a successful YES programme.