WSP: Submitting your wsp faster in 2022
Another year, another Workplace Skills Plan. WSP submissions open the 1 March 2022, and our team are ready to assist in your submission.
A company must submit their annual WSP and ATR if the payroll exceeds R500 000 per annum and pay the Skills Development Levy (SDL).
All companies with 50 or more employees need to establish a Skills Development Committee and consult with the Committee before submitting the skills report.
Companies can see a WSP as a growth strategy by upskilling employees with relevant accredited training and increasing their human capital. A curated Workplace Skills Plan (WSP) in South Africa outlines how the employer will address the current skills gap by implementing an easy 3-step process. Therefore, it is essential to do a Skills Audit to also investigates the existing competencies of each employee against pre-defined skill sets required to fulfil a specific role.
Why is it important to do a Skill Audit?
- Improves skills and knowledge
- Decreases training and development costs as development efforts are more focused
- Improves succession planning for employees’ growth and development
- Increases productivity as a staff is matched according to their skills
As soon as you identify the skills gap, the next step is to determine what training needs to be implemented. It is essential to include training that can meet multiple compliance requirements, especially learnership that focus on scarce and critical. Scarce and critical skills will assist with your B-BBEE and Employment Equity requirements.
Ask the question, “Do you need to upskill or reskill?”
Considering training aligned with your business strategy will keep your business a step ahead of the competition and assure future growth.
It is no secret that employee turnover is expensive, and Upskilling, or reskilling, is a smaller investment than appointing and training new staff.
Upskilling
Upskilling, the most common within the workplace, is the process of learning new skills to enhance your skillset and reach your current KPI’s.
Companies may want to train their workforce to acquire new skills, ultimately enabling staff to grow in their current positions and bring added value to the business.
Reskilling
Reskilling is the process of learning new skills to find a different position or career path.
Employers use reskilling to train employees to enter a new position or department. The employee takes further education to learn the skills needed to enter an entirely new field of activity to what they were previously in.
The skillset is considered for the different roles to be more beneficial for employers and employees.
Once you’ve identified the skills which need to be addressed in your organisation, you can look at various options.
Benefits of submitting your reports on time:
- 20% mandatory grant from Skills Development Levies paid to SARS in the financial period can be recovered.
- Your Plan and Report may be used as an application for a discretionary grant for essential training.
- Receiving B-BBEE points under skills development. If a WSP and ATR are not submitted on time, you will not be eligible to claim your skills development points on your B-BBEE Scorecard
- Skills Development positively promotes succession planning and equity in the workplace
Adson consultants are ready to assist in submitting your WSP on time and making the process easy and cost-effective. Our packages accommodate each stage of your business.