Barbados is positioning itself as a prime gateway for UK companies seeking trade and investment opportunities in the Caribbean. With its stable economy, modern infrastructure, and strategic partnerships, the island aims to solidify its role as a bridge between British firms and lucrative regional markets.

This commitment was emphasized during the launch of the 2024 UK Trade and Investment Mission to Barbados, hosted on last week by the UK Department for Business and Trade, Invest Barbados, and Renfrewshire Business Network at the Crane Resort. Renfrewshire, a historic industrial hub in western Scotland, is now a leader in advanced manufacturing and high-tech industries.

D’Jamila Ward, Regional Director for the Commonwealth Caribbean at the UK Department for Business and Trade, addressed business leaders from the UK and the region, highlighting the robust trade ties between the two nations. Ward pointed out that in the year leading up to the second quarter of 2024, bilateral trade totaled £560 million (around $1.42 billion USD). This makes Barbados the UK’s fourth-largest trading partner within the CARIFORUM region, accounting for over 11% of trade in the bloc.

“Despite the many polycrises, the near-term economic outlook of Barbados remains positive. I don’t need to tell you that it’s a great time to do business in Barbados, but I will. It is,” Ward said.

Ward applauded the significant contributions of UK companies to Barbados’ development, citing examples like ABAGO Limited, which has been instrumental in digitizing Barbados’ historical archives, some dating back to 1635. She noted that such initiatives demonstrate the UK’s long-term commitment to sustainable and mutually beneficial partnerships with Barbados.

“The UK is here in Barbados for long-term sustainable partnership. We are here for mutually beneficial relationships, and our actions reflect that commitment,” Ward said.

Article by Kimberly Chan, PMQ, MBA 

As a recently founded Caribbean body, the Caribbean Institute for Human Management (CaIHRM) hosted its first webinar on October 30, 2024, with a focus on Re-imaging Caribbean HR: The Future Operating Model, staying true to its mission, “As the voice of Caribbean HR is to unite and empower regional bodies through innovative representation, advocacy and capacity building.”

This inaugural event was opened by Mrs. Georgia Donaldson (Director – CaIHRM) and moderated by Mr. Michael McAnuff-Jones (Chairman – CaIHRM) who guided the rich discussions with presentations from the powerful and dynamic panel of regional executives and trailblazers which included:

1. Mrs. Cavelle Joseph-St. Omer – President, CaIHRM & Human Resource Management Association of Trinidad & Tobago (HRMATT)
2. Dr Cassida Jones Johnson – Director, CaIHRM & Human Resource Management Association of Jamaica (HRMAJ)
3. Ms. Esaura Cumberbatch – Director, CaIHRM & Immediate Past President, The Bahamas Society for Human Resource Management
4. Mr. Nicholas Roberts – Human Resource Management Association of Barbados (HRMAB)

The panellists discussed strategic initiatives through the five (5) HR Operating Models highlighted in a recent article by Mckinsey presented by the panellists who added their interpretation and views as follows:

1. Ulrich+

This model is an adaptation of the classic Ulrich model, with HR business partners developing functional spikes and taking over execution responsibilities from centers of excellence (CoEs). In turn, CoEs are scaled down to become teams of experts and selected HR business partners. They are supported by global business services and have a digital operations backbone. Many CHROs believe the classic Ulrich model is not up to solving today’s HR challenges, with HR business partners lacking the skills and time to keep up with the latest HR developments. Inflexible CoEs limit agile reactions, while other organizational boundaries have steadily become more permeable. Multinational businesses with mature and stable business models are often the ones that experience these pain points.

2. Agile

This model calls for a smaller number of HR business partners, with an emphasis on counseling top management, while CoE professionals focus on topics such as data and analytics, strategic workforce planning, and diversity and inclusion. The freed-up resources are pooled to implement cross-functional projects. CHROs who favor this operating model believe that HR needs to accelerate to keep up with the increased focus on execution exhibited on the business side and to prevent HR from hindering rapid transformation. Companies are applying this and other agile methodologies when experiencing rapid growth or discontinuity. (For an example of this model, see sidebar “An agile transformation.”)

3. Ex-Driven

This model is meant to help CHROs gain a competitive advantage by creating a world-class EX journey. Putting EX first means allocating disproportionate resources toward “moments that matter.” For example, HR, IT, and operations experts could be granted full responsibility to jointly plan, develop, and roll out a critical onboarding process. By creating a world-class EX, HR becomes the driving force in bridging cross-functional silos and in overcoming the patchwork of fragmented data and processes that many organizations suffer from today. The companies employing this model are highly dependent on their top talent, with a small set of clearly defined competencies. (For more on this model, see sidebar “Optimizing the employee experience.”)

4. Leader-Led

In this model, CHROs transition HR accountability to the business side, including for hiring, onboarding, and development budgets, thereby enabling line managers with HR tools and back-office support. This archetype also requires difficult choices about rigorously discontinuing HR policies that are not legally required. Too much oversight, slow response times, and a lack of business acumen in HR have led some companies to give line managers more autonomy in people decisions. Companies exploring this choice typically have a high share of white-collar workers, with a strong focus on research and development.

5. Machine-Driven

With this model, algorithms are used to select talent, assess individual development needs, and analyze the root causes of absenteeism and attrition—leaving HR professionals free to provide employees with counsel and advice. As digitalization redefines every facet of business, including HR, CHROs are looking for ways to harness the power of deep analytics, AI, and machine learning for better decision outcomes. Organizations that are experimenting with this are primarily those employing a large population of digital natives, but HR functions at all companies are challenged to build analytics expertise and reskill their workforce.

(Excerpt – HR’s new operating model – December 22, 2022 | Article https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/hrs-new-operating-model)

This event hosted over one hundred (100) participants from HR Practitioners and Business Executives from across the globe. CaIHRM will continue to host events of a similar nature to engage in conversations toward the development of our Caribbean countries.

HILTON BARBADOS RESORT, ARTS COUNCIL, SUSTAINABLE CARIBBEAN AND FISHERIES DIVISION 

Hilton Barbados Resort has joined forces with the Barbados Arts Council, Sustainable Caribbean and the Fisheries Division to host a charity event aimed at raising $100,000 to assist the fisherfolk community impacted by Hurricane Beryl in July.

General Manager of Hilton Barbados Resort, Jacques Montiel, explained that the important fundraiser, ‘Harbouring Hope – Operation Blue Recovery’ will be hosted on Saturday, November 16 at Hilton at 5:30 p.m., and all proceeds will go towards the recovery efforts.

He said, “We are deeply committed to supporting our community in times of need. Witnessing the devastating impact of Hurricane Beryl on the fishing boats, we knew we had to take action. Our event aims to provide the necessary support for our fisherfolk to recover and rebuild their livelihoods.

“This event is a testament to our commitment to supporting our fisherfolk through these challenging times, and through it, we aim to provide the necessary assistance for a full and swift recovery.”

Thanking the organisations for coming together to host the fundraiser, Chief Fisheries Officer Dr. Shelly-Ann Cox noted that the funds raised will assist with propelling the recovery efforts and getting boats back into the water to harvest fresh fish.

She said, “No value can be placed on the future of our fishing partners who have not only lost their income, but also their peace of mind for the intermediate future. As you are aware, the fisheries sector is a cornerstone of our island’s economy and culture.  Harbouring Hope: Operation Blue Recovery, the sector’s positive response after the catastrophic impact of Beryl would not be possible without the outpouring of love and support from collaborators across the private and public sector. 

“We are extremely grateful to our partners for their acts of kindness and passion for hosting such a one of a kind event. This collaboration employs a creative approach to engage corporate Barbados through the use of ocean-inspired music, poetry, art and dramatizations, and will also pay tribute to fisherfolk stalwarts that have made a significant contribution to the fishing industry.”

Harbouring Hope – Operation Blue Recovery will feature silent and live auctions, raffles and local entertainment. (PR)