Corobrik has made significant progress in effecting its empowerment strategies through ongoing focus on people and enterprise development both within and outside the company.
This progress is reflected in the outcome of the March 2011 Empowerdex audit where Corobrik's BBBEE rating moved from a Level Six Contributor at a 60% Procurement Recognition Level to a Level Four Contributor at a 100% Procurement Recognition Level. The audit demonstrates Corobrik having successfully progressed in the key areas of Ownership, Employment Equity, Preferential Procurement, and Enterprise Development. "Corobrik is pleased to note continued improvements in all areas of the business, however the empowerment of Corobrik's own staff and the building of greater ‘community' in the business is particularly satisfying," says Dirk Meyer (seen here).
At the ownership level, some 60,95% of Corobrik's share capital now resides in the hands of historically disadvantaged South Africans. A key contributor to this has been the creation of the Corobrik's Staff Trust, where all employees with more than one year's service have been given shares in the company at no cost to the employees. "Unique we think, is the provision of the trust that makes way for two trustees, drawn from the rank and file of Corobrik, to represent all staff as full Directors on the Corobrik Board. Two female employees, both of whom have risen through the ranks of Corobrik to centre manager and factory manager respectively, are the current trustees represented on the Corobrik Board bringing an interesting dynamic to the business," Meyer adds.
"Another area that has accounted positively towards Corobrik's enhanced BBBEE status has been the many Local Economic Development initiatives undertaken at each of Corobrik's operations through the country. These have been wide ranging in content including projects as varied as strawberry farming, to side of the road trading stall construction, to facilities provision for shoe making and repairs. At the procurement level, our Procurement team has really applied itself in supporting, mentoring and developing emerging service providers. These efforts are well reflected in Corobrik's move from a 60% procurement recognition level through to a 100% status.
"Adding further value at the people development level has been the external bursary scheme introduced for eleven Grade 12 school leavers drawn from communities close to our operations to pursue University degrees, this at an annual cost of R484 000 to Corobrik. This we think fits nicely as an addition to our long established staff bursary scheme for the dependants of Corobrik employees where we have some 30 active bursaries with an annual value of R720 000," he says.
"At the socio economic development level sponsorships and donations of product to community upliftment projects with a strong emphasis on education and training has ensured our maximum points in this category. We are really happy with our progress made in the corporate social responsibility arena and more importantly to witness what we put in having positive results for so many," Meyer concludes.
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