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The complexity of short-term incentives continues to grow exponentially, with the structure needing much explanation detailing the drivers and their respective weightings, as well as the associated thresholds, targets and stretch levels. The unstable economic environment, and now the impact of COVID-19, have further complicated these matters, as it becomes increasingly difficult to meet these targets and guarantee pay-outs as a key performance driver.
The Department of Labour has amended the Employment Equity Regulations to include an updated EEA4 form applicable to designated employers. It also serves as the format for an Income Differential Statement which must be submitted annually in October to the Department of Labour.
Learn more about these changes and how we can assist you.
Partner, PwC South Africa
Tel: +27 (0) 11 797 5067