CZ Electronics has always emphasised the importance of job creation. And during the COVID-19 pandemic, the need for new opportunities for people faced with unemployment has become even more dire.
According to Stats SA, in the fourth quarter of 2020, the country’s official unemployment rate rose by 1,7 percentage points to a then record high of 32,5%. The statistics for 2021, though not entirely clear, are said to be at over 40%. And even though economic activity has increased under Level 1, job creation remains a top priority for South Africans. CZ Electronics believes that it is time for corporate South Africa to step up and take more initiative in providing opportunities for people in need.
Finding and creating opportunity
Upskilling and education are two of the most powerful tools that enable people to apply for a wider variety of jobs. With CZ Electronics’ staff complement, which consists mostly of previously disadvantaged black women, an important part of the company’s ethos is ongoing education and upskilling of staff, empowering them not only with skills that can be put to use at CZ Electronics, but potentially in future external endeavours as well.
This has a “trickle down” effect on the communities in the area, in that knowledge can be shared. And as incomes increase due to better education, CZ staff members are able to provide better educational opportunities for their families.
It falls to corporate South Africa to find new ways of providing opportunity across the board. The rewards go beyond the humanitarian effects of helping local communities, because as the economy is driven by the consumer, better equipped, higher-earning and more educated South Africans are able to contribute more to economical growth.
Lockdown has made it extremely challenging for job seekers in a market that is saturated with more unemployed people in similar positions. But the South African entrepreneurial spirit remains strong.
CZ Electronics believes that in sharing ideas with other corporate entities and funders, corporate South Africa may hold the key to curbing – and ultimately solving – the unemployment crisis in the future. It is time for business leaders to put their heads together to come up with long-term solutions that will stop unemployment and create more opportunities for economic growth. After all, it is ultimately in the interest, not only of job seekers, but also consumers and the corporates themselves.
CZ Electronics – Bringing Tomorrow Home.
Manufacturing South Africa
Electronics South Africa