SSP Brochure:Layout 1 - INSETA

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Core component of BEE Indicators Target 2008 Target 2014Section 5 Ownership & Control5.1 Ownership5.1.1 Direct ownershipMax of 4 Bonus points scored: 0.5 when directownership at 13.75%, 0.5 at 17.5%, 1.5 at 21.25% and1.5 at 25%Source: Financial Sector Charter ScorecardListed companies: standard valuation as % of marketcapitalisationNon-listed companies: standard valuation5.1.2 Direct or indirect ownership in excess of 10% Listed companies: standard valuation as % of marketcapitalisationNon-listed companies: standard valuation5.2 Control5.2.1 Board Black people as a % of board of directorsBlack women as a % of board of directors5.2.2 ExecutiveExecutive managementSection: Corporate Social InvestmentBlack people as a % of executive managementBlack women as a % of executive managementMin 10% by 2010 -15% by 2010 -33%Min of 11%Corporate Social Investment % of post tax operating profit directed p.a. to CSI 0.5%Min 25%Min 4% 33%INSETA Sector Skills Plan - page 47
ANNEXURE CMETHODOLOGY USED TO ESTIMATE THE NUMBER OF BLACK MANAGERSNEEDED BY THE INSURANCE SECTORThe following steps were followed to arrive at estimates of Black managers needed by the insurance sector over the period 2005 to 2010.It is important to note that it was assumed that the attrition rates for Black managers would be the same as that of white managers.Although the turnover of black managers in companies may be high, it is not certain that they leave the sector altogether. Also, blackmanagers may be younger than their white counterparts and therefore a smaller proportion may retire over the five-year period.a) First, current employment of managers was obtained from the Survey of Employment, Scarce and Critical skills conducted in 2005. Thedistribution of managers across the two levels, senior and executive managers and middle and junior managers was obtained from theWSPs submitted to the INSETA for the year 2006/2007. The WSPs represented more than 80% if the employees in the sector andtherefore it can be regarded as fairly representative of the sector as a whole. The distinction between these two levels of managementwas made by the employers themselves and may differ between organisations.b) The current employment distribution was also obtained from the WSPs as explained in a) above.c) The target distribution for 2010 was obtained by:Scenario 1 – keeping the distributions more or less as they were in the Year 2006/2007 WSPs andScenario 2 – arbitrarily increasing the black male and black female components beyond the minimum targets set in the FSC.d) The target employment for 2010 was obtained by applying the target distributions for 2010 to the target employment figure of 14 856.This is the number of managers that the industry would employ in 2010 if employment would grow by 1.9% per year. In Scenario 1the black male, female and white distributions were held at the level at which they currently are (as reflected in the WSPs submittedin June 2007) and in Scenario 2 they were increased as explained above.Total Managers NeededThe total number of managers needed over the five-year period at the different levels and in the different population and gender groupswas calculated by providing for the growth in employment as explained in d) above and the replacement demand calculated by the modeldeveloped for the SSP (See Chapter 2). Thus, all the assumptions made for the model also apply to this extension of the model. The numberof managers needed annually was calculated by dividing the number needed over the five-year period by five. The results shown in thetable below indicate that if the targets for black managers were raised to the levels indicated in Scenario 2, the attrition of white managerswould have to be faster than that allowed for in the model – approximately 80 white managers need to leave in addition to the ones thatwould naturally leave the sector. Alternatively, employment growth in the sector would have to be faster in order to create more spacefor the transformation of the management cadres.a) Current employmentBlackMaleBlackFemaleWhiteTotalSenior and executive management 925 526 4 959 6 410Middle to junior management 1 607 1 444 4 061 7 112Total 2 531 1 971 9 020 13 522b) Current employment distributionBlackMaleBlackFemaleWhiteTotalSenior and executive management 14.43 8.21 77.36 100Middle to junior management 22.59 20.31 57.10 100Total 18.72 14.57 66.70 100c) Target distribution for 2010BlackMaleBlackFemaleScenario 1 Scenario 2White Total BlackMaleBlackFemaleSenior and executive management 15 10 75 100 20 15 65 100Middle to junior management 24 21 55 100 30 30 40 100d)Target employment for 2010BlackMaleBlackFemaleWhite Total BlackMaleBlackFemaleSenior and executive management 1 056 704 5 282 7 042 1 408 1 056 4 577 7 042Middle to junior management 1 875 1 641 4 298 7 814 2 344 2 344 3 126 7 814Total 2 932 2 345 9 579 14 856 3 753 3 401 7 703 14 856WhiteWhiteTotalTotalINSETA Sector Skills Plan - page 48
Page 5 and 6:
Table 4.4 Scarce skills: clerical a
Page 7: EXECUTIVE SUMMARYBackground and met
Page 10 and 11: How the INSETA addressed Scarce and
Page 12 and 13: 1 PROFILE OF THE SECTORThe insuranc
Page 14 and 15: Table 1.4 Other activities of organ
Page 16 and 17: A major problem in estimating the n
Page 18 and 19: • The fact that the industry has
Page 20 and 21: Figure 1-6 Trends in net premium in
Page 22 and 23: Figure 1-9 Trends in collective inv
Page 24 and 25: additional staff. The technology al
Page 26 and 27: 2 THE DEMAND FOR SKILLS IN THE SECT
Page 28 and 29: 2.3 Employment trends2.3.1 Changes
Page 30 and 31: Competition from other financial se
Page 32 and 33: 3 THE SUPPLY OF SKILLS TO THE SECTO
Page 34 and 35: Table 3.2 Population group distribu
Page 36 and 37: Figure 3-4 Senior Certificate passe
Page 38 and 39: Table 3.7 Qualifications awarded by
Page 40 and 41: 3.3.3 Further education and trainin
Page 42 and 43: Table 3.13 People to be trained in
Page 44 and 45: • The racial profile of graduates
Page 46 and 47: OccupationPosts difficult to fillSp
Page 48 and 49: Table 4.5 Scarce skills: sales occu
Page 50 and 51: The scarce skills identified in the
Page 52 and 53: Small business opportunity Subsecto
Page 54 and 55: 5.7 ConclusionsThis last chapter ou
Page 56 and 57: ANNEXURE APROFESSIONAL BODIES INTER
Page 60 and 61: Senior managementBlackMaleTOTAL MAN
Page 62 and 63: ANNEXURE ESCARCE SKILLS IN THE INSU
Page 64 and 65: OCCUPATION level ss Specialisation/
Page 66 and 67: OCCUPATION level ss Specialisation/
Page 68 and 69: ANNEXURE FCRITICAL SKILLS NEEDED IN
Page 70 and 71: OCCUPATION level ss52 Personal Assi
Page 72 and 73: ANNEXURE GINSETA BUSINESS PLANINSET
Page 74: The DoL requires all Councils to un
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SSP Brochure:Layout 1 - INSETA

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