To quality as a broad-based black economic empowered (BBBEE) company in terms of the BBBEE Amendment Act, 2013, Aerosud is placing the focus on putting suitable mechanisms in place to enable its lower-paid employees to share in its success.
Obtaining BBBEE status is one of the three key pillars of the company’s move, initiated in June this year, of restructuring the group to reposition its main operating company, Aerosud Aviation, to optimise on growth opportunities to further develop its business as a manufacturer and supplier of parts and assemblies for the world’s leading commercial aircraft original equipment manufacturers Boeing and Airbus.
Among the changes in shareholding allocations in Aerosud Holdings incorporated in the restructure is the establishment of an Employees BEE Trust with a 12% stake, thereby making provision for the group’s employees to gain additional financial reward over and above their normal remuneration. The Industrial Development Corporation (IDC) is key partner in the establishment of this exciting prospect for the Aerosud employees.
“In this way they will share in the company’s success as it progresses and grows in the future,” says Aerosud Holdings executive chairperson Paul Potgieter.
“In addition, we are in the process of expanding our current apprentice training programme to include a structured and formalised skills development programme designed to accelerate training mainly for the benefit of our lower-paid employees. By skilling and incentivising them we will open up more opportunities for advancement for them within the organisation.”
In the medium to longer term, this programme will also contribute towards providing employment for new entrants.
“As the lower-paid employees who have been trained to enable them to occupy higher skilled and better paid jobs move up in the ranks, we will be able to recruit new entrants to fill their former posts. They then in turn will receive training to enable them to progress upwards in due course and so the process will continue to everyone’s benefit,” Potgieter explains.
“We view such a programme as a practical and effective method of empowering as many people as possible, chiefly members of formerly disadvantaged communities. It is a win-win formula for both the company and its employees,” he concludes.