Eris is fully committed to the transformation of South African social and corporate structures to provide equal opportunity for all South Africans on a sustainable basis. In pursuit of these objectives, Eris has actively contributed to Black Economic Empowerment, and will continue to do so through increasing compliance with the Broad Based Black Economic Empowerment Codes of Good Practice issued by the Department of Trade and Industry, as well as the evolving Property Sector Charter.
Eris initiatives in this regard are as follows:
In 2008 Tiso Trust and Royal Bafokeng Holdigns each acquired a 15% stake in Eris. With the corporate restructure in 2012, Tiso Trust now known as Kagiso Trust Holdings, increased their shareholdings to 22% and Royal Bafokeng sold out. By virtue of the shareholding held by MMI in Eris, Appoximatley 40% of Eris is black owned.
Eris believes that it is in its own competitive interests and those of its employees to ensure that the human resources, talents and skills available throughout the community are considered when employment opportunities arise.
The company is committed wherever practical to achieving and maintaining a workforce which broadly reflects the community in which it operates.
Steps are being taken to ensure that individuals are treated equally and that decisions on recruitment, selection, training, promotion and career management are based on formal qualifications, prior learning, relevant experience (or the capacity to achieve this within a reasonable period of time) and the ability to undertake the function required.
In its quest to ensure that the talents and skills in the previously disadvantaged individuals are identified when employing new staff, Eris will continue with specific measures to employ and develop people from designated groups.
A programme exists for the annual induction of learners from previously disadvantaged groups, with the objective of full time employment for certain of these individuals within Eris.This programme has successfully been implemented in the company since 2008.
An amount equivalent to 1.8% of annual salary costs is allocated for the training of previously disadvantaged individuals employed by the company.
Due to the company's involvement in the Property Development and Property Management arena, we access a wide range of skills in carrying out our business.
Opportunities are continuously being sourced to assist individuals, or small start up companies, through direct monetary assistance, preferential procurement and the co-ordination of the transfer of skills. The objective in providing this assistance is to afford opportunities to these individuals or entities to eventually provide these services on an independent and competitive basis to the industry.
The need to assist those less fortunate is aligned to and entrenched in the culture and spirit of the staff at Eris Property Group. 1% of Net Income is allocated to fund initiatives that are sourced, implemented and driven by a voluntary internal committee. Staff members are encouraged to suggest initiatives to be assessed, supported and driven by the committee and staff volunteers. Preference is given to projects that will improve the welfare of previously disadvantaged individuals or communities, and where direct and ongoing involvement is required from Eris employees.