March 28, 2023
The tight labour market being faced in the country today shows why talent acquisition services are so critical for businesses that want to stay ahead, said Joseph Boll, Caribbean Employment Services Inc. CEO.
Caribbean Employment Services Inc. is a market-leading digital talent acquisition service that aims to connect the top talent from the Caribbean with hiring managers, HR professionals and decision-makers in companies both within the Caribbean as well as abroad. Further, it aims to provide the region’s jobseekers and those who are already employed with news and resources related to Caribbean labour.
Boll’s comments come on the heels of Finance Minister Nigel Clarke and other experts calling for an incredibly tight, competitive labour market to be addressed “in a mature way.”
“When the labour market is squeezed for talent and businesses struggle to fill vacancies, that can very quickly have spillover effects, not just for businesses but for commerce and the economy on the whole” the CEO remarked.
For instance, Boll noted how the Statistical Institute of Jamaica (STATIN) reportedly had to increase the salary for census takers by 100 percent “just to compete in the labour market” because of difficulty attracting and retaining talent.
“High turnover rates can be the final nail in the coffin for businesses,” he said. “It essentially becomes wasted resources when you spend all that effort hiring and training just to have to repeat it again and again. On top of having to overcompensate to hold onto the staff you have, it becomes an expensive venture in multiple ways to keep up with a tight market without support.”
As such, Boll added, “Businesses that want to avoid labour shortages and save themselves the trouble of losing resources by having to recruit, hire and train only to have to repeat the same process one or two months down the line should seriously consider bringing in professional help,” said Boll.
“Professional services like Caribbean Employment can help you save time, money and resources while ensuring you come out on top in a highly competitive market.”