21stCentury, one of Africa’s largest remuneration and reward consultancies, has announced today that, after a two-year process of planning and implementation, the organisation has entered into a Broad-Based share ownership transaction and an Employee Share Ownership Programme. The result is a newly-named, black-owned entity incorporating the introduction of a B-BBEE trust for the 21st Century staff.
“One of the cornerstones of our company has always been social upliftment and, increasingly, transformation. This is why we started on this path a few years ago and are thrilled to see the outcome today” says Chris Blair, CEO of 21st Century. Two of the most prevalent challenges in South Africa are reducing the wage gap and enabling wealth creation. 21st Century not only advises the market on how to address these challenges, but lives the values in its own business. This transformation is a clear example of 21st Century’s leading practices.
The first company in its field to implement such changes, 21stCentury is leading the way for other organisations in the rewards and remuneration space as a first adopter (with the 51% B-BBEE ownership transaction) and the opportunity for staff to share in the success of the company.
“I have served on the Board for a number of years and believe this move is not only in line with the direction we’d like to see the company develop, but also with a broader business objective of supporting growth, transformation and job creation in our country,” comments Mbulelo Mayikana, Director at 21stCentury.
Established in 1996 by Chris Blair and Dr Mark Bussin, the organisation boasts over 60 skilled employees servicing over 1700 clients, with two thirds of the companies on the JSE as 21stCentury clients. This experience and dedicated skillset ensure that the organisation is able to offer a range of innovative services to both the corporate and government sector.
The ownership and board are constructed as follows:
Directors: Chris Blair (CEO), Dr. Mark Bussin (Chairman), Adv. Nasreen Dawood, Dumi Khanyile, Mbulelo Mayikana, Ian McGorian, Morag Phillips, Craig Raath.
|S/H @ May 2015|
|M H R Bussin||18.40%|
|C F Blair||18.40%|
|21st Century Empowerment Trust||26.00%|
|21st Century Performance Trust||10.00%|