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Fasset Update Return on Investment in Training November 2010

Fasset Update Return on Investment in Training November 2010. 1. 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

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Fasset Update Return on Investment in Training November 2010

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  1. Fasset Update Return on Investment in Training November 2010 1

  2. 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

  3. 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

  4. 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

  5. Fasset Grants Update

  6. 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

  7. 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 - 2009/2010 finalised, R16 million approved applications, 81% payout rate (budget allocated was R13 million

  8. SCG Criteria 2010/2011 External bursaries Financial support (internal bursaries) Quality-assured and structured workplace experience Workplace experience Learnerships Adult Basic Education and Training (ABET) National Standards for People Development

  9. 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

  10. 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

  11. Free Lifelong Learning • Attendance certificates available for download

  12. 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

  13. 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

  14. Thank you For more information please contact the Fasset Call Centre on 086 101 0001 or visit www.fasset.org.za

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