Employment equity
All training operations in the Reunert group maintain an employment equity
plan in terms of the Employment Equity Act of 1998. These plans were formulated
and are managed in conjunction with employer representatives of business
units. The Reunert College serves as a primary source of employees from
previously disadvantaged communities. A total of 22 former students were
offered employment on either a permanent or a temporary basis in 2008.
The group’s approach to employment equity is part of an integrated plan
to ensure a constant stream of entrants to the college and the retention
of skills through the Reunert mentorship and coaching programme. These
activities emphasise the development of young people from previously disadvantaged
communities and all interventions, including the level of funds contributed
by group companies, are monitored monthly.
Broad-based black economic empowerment
Following the conclusion of an empowerment transaction with members of
Peotona in 2007, a rating agency has confirmed that the effective broad-based
black economic empowerment (BBBEE) shareholding in Reunert is 23,1%. Reunert
was credited with bonus points as 70% of the shares applicable to the BBBEE
transaction were allocated to a trust established to further the educational
and training needs of previously disadvantaged children. A total of 31
Nashua Mobile franchisees are currently 100% owned by previously disadvantaged
individuals.
Following the publication of the BBBEE codes in 2007, most companies in
the Reunert group have submitted their BEE credentials to a rating agency
for assessment. However, rating agencies remain swamped by the demand to
complete the rating process of many South African entities so the process
is taking much longer than anticipated. An overall rating of Reunert will,
therefore, only be possible once all subsidiaries have been evaluated. |
