Fasset Update Return on Investment in Training November

Scarce Skills Scarce Skills - people to fill job vacancies Critical Skills - specific skill that is ‘critical’ to the full functioning of a person in their job 79% relate to professional occupations Trainee accountants and auditors Bookkeepers, accounting technicians, general accountants Financial officers, SCM 2

Scarce Skills Continued Support staff in public sector Internal auditors, Taxation practitioners (local and international) Managers in finance and accounting Insurance agents, Business analysts, Data architects Black managers with management experience Skilled women and people with disabilities 3

Reasons for Scarce Skills Low standard of South African school education Shortage of black trainees and trainees with Honours Shortage of trainees interested in auditing High drop-out rate during training Small firms can’t compete with larger firms for salaries Shortages experienced in financial divisions in all sectors of the economy (SAICA study) Shortages at professional and lower levels e.g. bookkeepers 4

Fasset Grants Update Outgoing (2010/2011) Incoming (2011/2012) Deadline Mandatory Grant30 June 2010*30 June 2011 Learnership Cash Grant31 March March 2012 Strategic Cash Grant31 March March 2012 SMME Grant31 March March 2012 Assessor Moderator Grant31 March March 2012 * or within 6 months of registration as a new firm 5

Learnership Cash Grant (LCG) For black and/or disabled learners on Fasset learnerships Grant applicable to firms employing fewer than 150 people Maximum of 10 grants per employer Learners registered during 2010, apply on 31 March 2011 First-come first-served basis Application per learner, no extensions, no query Tax deductions for all learners, higher for people with disabilities 6

Strategic Cash Grant (SCG) Due 31 March 2011 Claim back a maximum of 20% of SDL Change in criteria White women acceptable for certain criteria No extensions MS Excel format required Subject to capping /2010 finalised, R16 million approved applications, 81% payout rate (budget allocated was R13 million 7

SCG Criteria 2010/ External bursaries 2.Financial support (internal bursaries) 3.Quality-assured and structured workplace experience 4.Workplace experience 5.Learnerships 6.Adult Basic Education and Training (ABET) 7.National Standards for People Development 8

Pilot SMME Grant Due 31 March 2011 Based on need to support SMMEs who do not traditionally participate in learnerships Amount will be limited to R11,000 per five employees employed in the SMME organisation White women acceptable for certain criteria 9 SizeAmount 1 – 5R 11,000 6 – 10R 22, – 15R 33, – 20R 44, – 25R 55, – 30R 66, – 35R 77, – 40R 88, – 45R 99, – 49R 110,000

Assessor and Moderator Grant Reimburse cost of training, provided the assessor or moderator registers against a Fasset qualification The assessor requires approval of registration from the relevant professional body Due 31 March 2011 Applicable to all population groups 10

Free Lifelong Learning Nov 10Return on Investment in Training Feb 11Assertiveness Mar 11Budget and Tax Update (2011) Apr 11Recruitment and Selection May 11Global Economic Trends June 11Role of SDF (2011) Aug 11Companies Act Sept 11Labour Law Update Oct 11Performance Management Nov 11Complying with Changes in Legislation Attendance certificates available for download 11

Development Projects To address the shortage of professionals in the sector Funded workplace programmes includes soft skills, financial skills, technical and/or academic skills Learners are black and/or people with a disability 70% placement minimum requirement Employers may apply for the LCG for these learners 12

Strategic Direction 2011/2012 Fasset Skills Advisors Impact of NSDS III Development Projects Research Mandatory Grant Pivotal Grant SCG LCG – entry LCG – completion SMME Grant AMG Lifelong Learning 13

Thank you For more information please contact the Fasset Call Centre on or visit 14