Employment Equity Amendment Bill set to send ripples throughout South Africa’s business sectors
The closing date for comments on the Employment Equity Amendment Bill is set for this Friday, 19 February. The Bill has been greeted with varying degrees of concern from companies around the country.
Certain proposals contained within this draft are set for further discussion during the year, but some may be implemented before year-end. This new legislation will, if passed, affect companies across all sectors as well as their respective workforces as those who fail to comply will be unable to do business with government on any level.
Four areas of focus
Focused on four specific areas, namely B-BBEE and transformation; the wage gap; regulations aimed at SMMEs; and the hiring of foreign workers, there is much on the table to give consideration to before the 19th of February. The widespread nature of each of these pieces of legislation is a clear demonstration of the ripple effect that will occur should the Bill pass. There are many potential hurdles for businesses to clear and understanding the direct impact of each is critical.
A double-edged sword
The Bill, taking what seems to be a multi-pronged approach to mobilising change in the country, comes at a time when, across all sectors of business in South Africa, owners and staff are still reeling and recovering from the effects of the Covid-19 pandemic
For further information on the Employment Equity Amendment Bill, click here.