The YES (Youth Employment Service) initiative, also known as YES 4 Youth, is a business-led collaboration with government and labour, aimed at creating job opportunities for young South Africans.
Launched by President Cyril Ramaphosa in 2018, it addresses the high youth unemployment rate in the country. The YES initiative aims to provide one million work opportunities for young people over three years.
Key Aspects Of The YES 4 Youth Initiative:
- Job Creation:
Businesses create one-year work experiences for unemployed youth, either within their organisations or through sponsored placements in small businesses, non-governmental organisations (NGOs), and community-based projects.
These work experiences are intended to equip young people with skills and practical work experience to enhance their employability.
- B-BBEE Benefits:
- Improved B-BBEE Rating: Companies that participate in the YES initiative can improve their B-BBEE scorecard rating.
- B-BBEE Level Uplift: Achieving YES targets can lead to a one- or two-level B-BBEE rating uplift, depending on the number of work opportunities created and absorbed.
To qualify for the B-BBEE recognition, companies must achieve their targets as stipulated by the YES initiative, including creating a minimum number of jobs based on the company’s size and industry.
- Partnerships and Support:
The initiative is supported by various stakeholders, including the government, private sector, and civil society.
Companies are encouraged to collaborate and support each other in creating and sustaining work opportunities for youth.
- Implementation:
- Registration: Businesses must register with the YES initiative and commit to creating job opportunities for youth.
- Real Jobs: The jobs created should be real, quality work experiences that contribute to the personal and professional growth of the participants.
- Reporting: Regular reporting and monitoring are required to ensure compliance and the effectiveness of the program.
- Impact on Youth:
The program focuses on providing young people with meaningful work experiences, mentoring, and training opportunities.
It aims to bridge the gap between education and employment, giving youth a better chance of securing long-term employment.
Final Considerations
Overall, the YES 4 Youth initiative is a strategic effort to address youth unemployment and contribute to economic growth by leveraging the capabilities and resources of the private sector. It offers significant benefits for companies in terms of B-BBEE compliance and social responsibility while providing crucial support to young job seekers.