Have You Prepared Your BEE Plan For 2023?

As we navigate the current economic climate, weakened by the COVID-19 crisis, and marred by various challenges from high unemployment and policy uncertainty to a lack of infrastructure that has led to electricity shortages; it may be difficult for companies to commit funding to large projects that support their BEE level.

Transcend has been working with a number of corporates and their BEE champions in building and re-strategising around the BEE plan. As BEE budgets and plans are being developed for 2023, we advise that BEE champions consider the following critical success factors whilst preparing for the new year:

1. Return of investment: Do you know what impact and return on investment your current BEE Plan is yielding to your business and the country?

2. Test your concept: If you are not able to nutshell the concept inherent in the project and how this will drive cost to benefit to the country, you might be caught in doing BEE projects for scorecard sake and not improving business and social impact.

3. Establish conviction: Are all stakeholders aligned and committed to the BEE plan?

4. Establish connectedness: Does your BEE project reduce social distance and  improve connectedness between stakeholders?

5. Establish continuity: Do your BEE projects show follow-through that measures the predefined outcomes and social change beyond the project?

6. Establish capacity: Do your BEE projects have the correct and sufficient resources to implement process?

Transcend is uniquely positioned to facilitate your BEE strategy discussion to ensure that your transformation efforts are not only aligned with your organisational strategy, but are also systemic and sustainable.
 
Contact us should you require assistance with:

1. A quality control check/validation of your upcoming BEE strategy/plan

2. Identification of gaps and opportunities that could maximise your return on investment of the BEE plan to both company and country

3. Ensuring your strategy drives real transformation