Broad-based Black Economic Empowerment
Storage Technology Services (PTY) LTD was issued with its Broad Based Black Economic Empowerment (BBBEE) verification certificate on 26/08/2011.
The company is independently verified as a Level 4 contributor according to the DTI’s BBBEE Codes of Good Practice (“DTI Codes”), with a score of 73.61. The company has been rated as a value adding vendor with BEE procurement recognition.
BBBEE is viewed holistically and as an intrinsic part of the company’s competitive positioning.
BEE Certificate
Ownership
StorTech has 35.35% Black Ownership; 7.68% Black Women Ownership compared to a 31.32% Black Ownership; 10.26% Black Women Ownership in the previous year.
Management control and employment equity
Storage Technology Services improved from 2008 in Management control and Employment Equity.
The proportion of disabled employees is 7.6% of the total employee population. Staff retention is business priority.
Skills development
The Company supports the ongoing need for skills development and is committed to continuous improvement and quantifiable skills development expenditure was identified for black employees for the period under review at the time of the measurement.
A training committee that reflects a fair representation of all employees across all levels, gender and race is now in operation and acts as an open forum for employees to be actively involved in various training initiatives. This will ensure mutual commitment of both employer and employee to the training and development needs of all staff.
StorTech has and will continue to invest it is human capital to ensure that skills development is made accessible to assist and encourage the development of all employees.
Preferential procurement
Storage Technology Services is committed to preferential procurement spend from BBBEE-accredited suppliers. The company has done well over the past year and is committed to spend even more in future years.
Enterprise development
Enterprise Development means monetary or non-monetary contributions made to beneficiary entities, with the objective of contributing to the development, sustainability, financial and operational independence of those beneficiaries.
Socio-economic development
Socio-Economic Development means monetary or non-monetary contributions actually initiated and implemented in favour of beneficiaries with the specific objective of facilitating access to the economy for those beneficiaries.
StorTech supports carefully-selected local, regional and national initiatives that are designed to help improve the quality of life of previously-disadvantaged individuals and communities.
The company provided facilities and infrastructural support to CANSA Shavathon, Nelson Mandela Call Centre and the Women’s Day Initiative. StorTech’s support of these initiatives dates back to 2004.
In recognition of the above StorTech has been recognized as a platinum level contributor (the highest level of recognition).