Given that the Codes of Good Practice has been in place for more than 10 years, it would be easy to assume that companies have had enough time to develop and implement BEE strategies that yield mutual success, for society and the company. However, this is not the case; with more companies deemed non-compliant and the majority of companies viewing BEE as a tick-box exercise; one that doesn’t require priority.
BEE is an avoidable part of doing business in South Africa, regardless of whether companies agree with the fundamentals or the requirements to BEE certification. Because of this perspective BEE is considered a grudge purchase, with mere compliance and the completion of the tick box exercises as the end goal.
The need to change this shift in perspective is paramount to the success of your company and the transformation of South Africa’s socio-economic landscape.
B-BBEE is not a box ticking exercise
While some companies are non-compliant and do not meet their BEE targets, there are a large number of companies that do meet their targets and do have the BEE spend to, either maintain current BEE status levels or move up a level. What the latter category of companies falls prey to is simply ticking boxes on paperwork that reflects the compliance deliverables on a B-BBEE scorecard.
B-BBEE is a moral dilemma that companies face, one that requires them to move away from mere compliance towards empowerment and transformation.
Implemented correctly and with the intended purpose, B-BBEE will improve the socio-economic landscape in South Africa. Sustainable BEE strategies benefit a wider audience while improving and helping to define a company’s culture and image as a corporate citizen actively involved in transformation. In addition, a company’s transformation and empowerment efforts result is more growth opportunities.
B-BBEE beyond Tick-Boxes with ET Consult
Changing the perception of BEE and highlighting the success and impact that correct and sustainable BEE strategies deliver is the life blood of ET Consult. Companies seeking to break out of the tick box BEE exercises should get in touch with one of our consultants today, for a free consult!