Are Labour Policies Lubricant or Stumbling Block to Financial Performance of Small and Medium Companies? An Empirical Study of Employment Equity Amendments in South Africa
Keywords:
Labour Policies; Financial Performance; Small and Medium Companies; South Africa; Employment Equity Amendments
Abstract
Labour policies have been singling out as the key impediment to financial success of small and medium enterprises (SMEs). The upward spiral, exponential rate of SMEs failure in South Africa is an inescapable pointer to faltering labour policies. This paper brings to the fore the need to establish the impact of labour policies on financial performance of SMEs with specific attention given to employment equity amendments in South Africa. While some labour policies can lessen labour imbalances in companies, the finance performance of companies remains overlooked, in particular that of still growing SMEs. There is paucity of literature with evidence about inextricable link between employment equity amendments in South Africa and financial performance of SMEs. The purpose of this paper is to examine the impact of labour policies on financial performance of SMEs focusing on employment equity amendments in South Africa. This study employed the descriptive research design and quantitative approach. The sample of the study was 226 SMEs. Both descriptive and inferential statistics were utilised in analysing the data. The study indicated that the majority of the amendments to Employment Equity legislation had a detrimental effect to the financial performance of SMEs. The paper offers a critical and salient insights into the relationship between amendments to Employment Equity legislation and financial performance of SMEs. The paper provides a rich resource for organisations, policymakers and other stakeholders looking to improve equity and sound financial performance of SMEs in the face of broad social division, unemployment and under-resourcing.
References
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Mandhachitara, R., & Allapach, S. (2017). Small business performance in Thailand: key success factors. Journal of research in marketing and entrepreneurship, 19(2), 161-181.
Masama, B. (2018). Revisiting the economic factors which influence fast food South African small, medium and micro enterprise sustainability.Expert Journal of Business and Management, 6(1), 19-28.
Mason, R.B., & Roman, L.J. (2015). Employment equity in the South African retail sector: Legal versus competence and business imperatives. South African Journal of Labour Relations, 39(2), 84-104.
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Mayer, C. H., Oosthuizen, R. M., & Tonelli, L. (2019). Subjective experiences of employment equity in South African organisations. SA Journal of Human Resource Management, 17(1), 1-12.
Meiring, D., & Buckett, A. (2016). Best practice guidelines for the use of the assessment centre method in South Africa.’ South Africa Journal of Industrial Psychology, 42(1), 1-15.
Mkhize, G., & Mgcotyelwa-Ntoni, N. (2019). The impact of women’s movements’ activism experiences on gender transformation policies in democratic South Africa. Agenda, 33(2), 9-21.
Musetsho, M., Isac, N., & Dobrin, C. (2021). Gender Inequalities in the Workplace: Case Study of South Africa. Management and Economics Review, 6(1), 70-81.
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Rautenbach, I.M. (2016). The Constitution and recent amendments to the definition of unfair discrimination and the burden of proof in unfair discrimination disputes in the Employment Equity Act. Journal of South African Law / Tydskrif vir die Suid-Afrikaanse Reg, 1(1), 110-125.
Sitharam, S., & Hoque, M. (2016). Factors affecting the performance of small and medium enterprises in KwaZulu-Natal, South Africa. Problems and perspectives in management, 14(2), 277-288.
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van Zyl, B. (2017). Equal pay for equal work dispute. HR Future, 1(1), 40-44.
Vargas, M.I.R. (2015). Determinant factors for small business to achieve innovation, high performance and competitiveness: organizational learning and leadership style.’ Procedia-social and Behavioral Sciences, 169(1), 43-52.
Wagner, D., Block, J.H., Miller, D., Schwens, C., & Xi, G. (2015). A meta-analysis of the financial performance of family firms: Another attempt. Journal of Family Business Strategy, 6(1), 3-13.
Webster, E., & Francis, D. (2019). The paradox of inequality in South Africa: a challenge from the workplace. Transformation: Critical Perspectives on Southern Africa, 101(1), 11-35.
Ahmedova, S. (2015). Factors for increasing the competitiveness of small and medium-sized enterprises (SMEs) in Bulgaria. Procedia-social and behavioral Sciences, 195 (1), 1104-1112.
Ainin, S., Parveen, F., Moghavvemi, S., Jaafar, N.I. & Shuib, N.L.M. (2015). Factors influencing the use of social media by SMEs and its performance outcomes. Industrial Management & Data Systems, 115(3),570-588https://www.emerald.com/insight/content/doi/10.1108/IMDS-07-2014-0205/full/pdf?title=factors-influencing-the-use-of-social-media-by-smes-and-its-performance-outcomes.
Ayandibu, A.O., & Houghton, J. (2017). The role of small and medium scale enterprise in local economic development (LED). Journal of Business and Retail Management Research, 11(2), 133-139.
Booysen, L. A. E. & Nkomo, S. M. (2014). 13 new developments in employment equity and diversity management in South Africa. Country perspectives on diversity and equal treatment, 1(1), 241-242.
Bouazza, A. B., Ardjouman, D. & Abada, O. (2015). Establishing the factors affecting the growth of small and medium-sized enterprises in Algeria. American international journal of social science, 4 (2), 101-115.
Bushe, B. (2019). The causes and impact of business failure among small to micro and medium enterprises in South Africa. Africa's Public Service Delivery and Performance Review, 7(1), 1-26.
Carrie, A.P., & Kevin, D.M. (2014). Research methods-designing and conducting research with a real-world focus. New York: Sage Publications.
Chakabva, O., Tengeh, R. K., & Dubihlela, J. (2020). A holistic assessment of the risks encountered by fast moving consumer goods SMEs in South Africa. Entrepreneurship and Sustainability Issues, 7(4), 3321.
Conley, H. & Page, M. (2018). The good, the not so good and the ugly: gender equality, equal pay and austerity in English local government. Work, Employment and Society, 32, 789-805.
DePoy, E. & Gitlin, L.N. (2015), Introduction to research: Understanding and applying multiple strategies. (5 Ed.). Elsevier health sciences: St Louis.
Dube, T. (2017). A critical analysis of the 'equal pay for equal work or work of equal value'provision as it relates to the South African labour market. Retrieved Octber 10,2019, from http://ukzn-dspace.ukzn.ac.za/bitstream/handle/10413/15896/Du_Thobeka_2017.pdf?sequence=1&isAllowed=y.
Ebrahim, S. (2018). Reviewing the suitability of affirmative action and the inherent requirements of the job as grounds of justification to equal pay claims in terms of the employment equity act 55 of 1998. Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad, 81(1), 134-141.
Eniola, A., Entebang, H., & Sakariyau, O.B. (2015). Small and medium scale business performance in Nigeria: Challenges faced from an intellectual capital perspective. International Journal of Research Studies in Management, 4(1), 59-71.
Erasmus, L., Reynolds, A., & Fourie, H. (2019). A generic balanced scorecard for small and medium manufacturing enterprises in South Africa. The Southern African Journal of Entrepreneurship and Small Business Management, 11(1), 1-15.
Espi, G., Francis, D., & Valodia, I. (2019). Gender inequality in the South African labour market: Insights from the Employment Equity Act data. Agenda, 33(4), 44-61.
EThekwini. (2014). SMME Development. Retrieved July 20, 2019, from http://www.durban.gov.za/City_Services/BST_MU/Pages/SMME-Development.aspx [Accessed January 2015].
Fatoki, O. (2018). The impact of entrepreneurial resilience on the success of small and medium enterprises in South Africa. Sustainability, 10(7), 2527.
Frans, V., Elize, K., & Hendrik, W. (2014). Performance measurement in small and medium enterprises: South African Accountants’ view. Journal of Economic and Financial Sciences, 8(1), 13-34.
Geldenhuys, J. (2016). Inequality in equality. South African Mercantile Law Journal, 28(3), 399-435.
Harish, C.J., Frank, H., & Christa, L.W. (2012). Employment equity in Canada and South Africa: A comparative review. The International Journal of Human Resource Management, 23(1), 1-17.
Heerden, A.V. (2015). Consequences of Late/ non-filing of Employment Equity Reports. Retrieved April 28, 2019, from https://www.werksmans.com/legal-updates-and-opinions/consequences-of-latenon-filing-of-employment-equity-reports/
Johane, B. (2017). Failing in workplace equality is no excuse. Retrieved August 7, 2019, from https://www.iol.co.za/business-report/careers/opinion-failing-in-workplace-equality-is-no-excuse-11100615.
Kanjere, M. M., & Ngwakwe, C. C. (2018). Progression of women to higher management positions in South African public sector: A differential effect of employment equity. Acta Universitatis Danubius. Administratio, 9(2), 47-56. Retrieved from https://journals.univ-danubius.ro/index.php/administratio/article/view/4722.
Karadag, H. (2015). Financial management challenges in small and medium-sized enterprises: A strategic management approach. Emerging Markets Journal, 5(1), 26-40.
Khumalo, K. (2017), “JSE-listed companies facing EE crackdown.” Retrieved from https://www.iol.co.za/business-report/companies/jse-listed-companies-facing-ee-crackdown-10739792.
Kikawa, C. R., Kalema, B. M., & Carol, M. N. (2019). A statistical analysis of business intelligence acceptance by SMEs in the city of Tshwane, Republic of South Africa. Academy of Entrepreneurship Journal, 25(2), 1-19.
Kothari, C. R. (2020). Research methodology, methods and techniques. New Delhi, New Age International
Krejcie, R.V., & Morgan, D.W. (1970). Determining sample size for research activities. Educational and Psychological Measurement, 30(3), 607-610.
Landman, M. S., & O'Clery, N. (2020). The impact of the Employment Equity Act on female inter-industry labour mobility and the gender wage gap in South Africa (No. 2020/52). WIDER Working Paper. Doi: https://www.econstor.eu/handle/10419/229276
Makwara, T. (2019). Taking on the challenge: small, micro and medium enterprises (SMMEs) and socioeconomic development in South Africa. African Journal of Hospitality, Tourism and Leisure, 8, 1-14.
Mandhachitara, R., & Allapach, S. (2017). Small business performance in Thailand: key success factors. Journal of research in marketing and entrepreneurship, 19(2), 161-181.
Masama, B. (2018). Revisiting the economic factors which influence fast food South African small, medium and micro enterprise sustainability.Expert Journal of Business and Management, 6(1), 19-28.
Mason, R.B., & Roman, L.J. (2015). Employment equity in the South African retail sector: Legal versus competence and business imperatives. South African Journal of Labour Relations, 39(2), 84-104.
Mathapelo, M. (2014). Amendments to the employment equity act looming. Retrieved from Johannesburg. Retrieved May 7, 2019, from https://www.accountancysa.org.za/amendments-to-the-employment-equity-act-looming/
Mayer, C. H., Oosthuizen, R. M., & Tonelli, L. (2019). Subjective experiences of employment equity in South African organisations. SA Journal of Human Resource Management, 17(1), 1-12.
Meiring, D., & Buckett, A. (2016). Best practice guidelines for the use of the assessment centre method in South Africa.’ South Africa Journal of Industrial Psychology, 42(1), 1-15.
Mkhize, G., & Mgcotyelwa-Ntoni, N. (2019). The impact of women’s movements’ activism experiences on gender transformation policies in democratic South Africa. Agenda, 33(2), 9-21.
Musetsho, M., Isac, N., & Dobrin, C. (2021). Gender Inequalities in the Workplace: Case Study of South Africa. Management and Economics Review, 6(1), 70-81.
Nene, L. R. (2021). Assessing managerial competencies of small enterprises in Okhahlamba Local Municipality. Master of Commerce in Management. University of Kwazulu-Natal.
Ngcobo, S., & Sukdeo, R. (2015). Challenges facing SMMEs during their first two years of operation in South Africa. Journal of Corporate Ownership and Control, 12(3), 1-5.
OECD. (2015). OECD Economic Surveys South Africa. Retrieved from http://www.oecd.org/eco/surveys/South-Africa-OECD-economic-survey-overview.pdf.
Ogujiuba, K. K., Boshoff, E., Agholor, I., & Olamide, E. G. (2020). SMEs and sustainable entrepreneurship in South Africa: impact analysis of contextual factors in the services sector. Business Administration and Business Economics, 1(1),7-28.
Oosthuizen, R. M., & Mayer, C. H. (2019). At the edge of the Fourth Industrial Revolution: Employees' perceptions of employment equity from a CIBART perspective. SA Journal of Industrial Psychology, 45(1), 1-11.
Ouma-Mugabe, J., Chan, K. Y., & Marais, H. C. (2021). A critical review of policy instruments for promoting innovation in manufacturing small and medium enterprises (SMEs) in South Africa. Entrepreneurship, Technology Commercialisation, and Innovation Policy in Africa, 1(1): 237-258.
Pallant, J. (2011). A Step by step guide to data analysis using SPSS. (4th ed.), Allen and Unwin.
Petra, Š.S.J. (2016). Measuring the Business Performance of Czech Manufacturing Companies. International Atlantic Economic Society Journal, 22(1), 229-230.
Peyper, L. (2017). 72 JSE-listed firms flagged for employment equity inspections. Retrieved July 5, 2019, from https://www.fin24.com/Economy/72-jse-listed-firms-flagged-for-employment-equity-inspections-20170810.
Ramukumba, T. (2014). Overcoming SMEs challenges through critical success factors: A case of SMEs in the Western Cape Province, South Africa. Economic and business review for central and South-Eastern Europe, 16(1), 19-20.
Rautenbach, I.M. (2016). The Constitution and recent amendments to the definition of unfair discrimination and the burden of proof in unfair discrimination disputes in the Employment Equity Act. Journal of South African Law / Tydskrif vir die Suid-Afrikaanse Reg, 1(1), 110-125.
Sitharam, S., & Hoque, M. (2016). Factors affecting the performance of small and medium enterprises in KwaZulu-Natal, South Africa. Problems and perspectives in management, 14(2), 277-288.
Squire, D. (2015). Employment equity in human resources : feature- employment equity. Retrieved August 6, 2019, from https://journals.co.za/content/om_hrf/06/1/EJC170652
State of the Ethekwini Economy. (2016/17). State of the Ethekwini Economy. Retrieved June 15, 2019, fromhttp://www.durban.gov.za/City_Services/Economic_Development/InvestDurban/Documents/State%20of%20the%20EThekwini%20Economy%20Oct%2020\
Stine, A. (2015). Over 1000 firms in court over EE targets. Retrieved September 5, 2019, from http://www.fastmoving.co.za/news/marketing-74/over-1-000-firms-in-court-over-ee-targets-7287
Stoddard, E. (2020). SA’s shocking unemployment rate remains unchanged. Retrieved March 20, 2019, from https://www.smartclub.co.za/SmartClub/NewsViewRedirect.do?NewsId=723170.
Tapanya, G. (2015). The constitutionality of the concept of demographic representivity provided for in terms of the Employment Equity Amendment Act 47 of 2013 Retrieved July 23, 2019, from http://ukzn-dspace.ukzn.ac.za/handle/10413/13403
van Zyl, B. (2017). Equal pay for equal work dispute. HR Future, 1(1), 40-44.
Vargas, M.I.R. (2015). Determinant factors for small business to achieve innovation, high performance and competitiveness: organizational learning and leadership style.’ Procedia-social and Behavioral Sciences, 169(1), 43-52.
Wagner, D., Block, J.H., Miller, D., Schwens, C., & Xi, G. (2015). A meta-analysis of the financial performance of family firms: Another attempt. Journal of Family Business Strategy, 6(1), 3-13.
Webster, E., & Francis, D. (2019). The paradox of inequality in South Africa: a challenge from the workplace. Transformation: Critical Perspectives on Southern Africa, 101(1), 11-35.
Published
2022-12-05
How to Cite
Utete, R. (2022). Are Labour Policies Lubricant or Stumbling Block to Financial Performance of Small and Medium Companies? An Empirical Study of Employment Equity Amendments in South Africa. International Journal of Social Science Research and Review, 5(12), 453-468. https://doi.org/10.47814/ijssrr.v5i12.822
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