In Barbados for example, labour trends have been showing growth in recent projections.
As a Bajan or CARICOM national seeking job opportunities in Barbados, there some important points to recognise:
Recovery is progressing and imminent
Statistics released from Central Bank of Barbados do indicate that an economic recovery is expected and in progress. Central Bank statistics show that the unemployment rate has reached some of its lowest levels since 2007.
Tourism and hospitality, as this industry serves as a key foreign revenue earner and source of employment for Barbados is re-emerging from the downturn of 2020 and progressing towards pre-Covid levels.
Other revitalising industries include trade retail and telecommunications, while other sectors such as construction, food services and manufacturing have reported slower growth. For jobseekers, it is critical to identify which sectors are re-emerging and growing at a faster rate than others.
A faster growth rate would likely include more job opportunities and vice versa.
Increases in retirement
According to Central Bank of Barbados reports, retirement statistics, particularly those for female retirement has increased since the end of lockdown and other restrictions. As the economy improves and opportunities return, many mature workers who would have had to forgo retirement due to the financial constraints, can now comfortably do so.
Technological skills are now basic skills
Before the advent of social media, artificial intelligence and even the internet, basic skills on a resume included reading, writing and basic computer operations. In today’s digital world, technological skills are not only mandatory, but basic.
This means Bajan employers would expect new recruits to have substantial knowledge of Microsoft programs, social media, conferencing communication platforms and even AI software. Given the heavy influence of technology in the modern workplace, employers may assume a candidate has working knowledge of the technology, even if it is not highlighted on their resume.
Bajan employers are seeking technology skills as the world becomes more integrated and market boundaries are gradually diminishing. The demand for tech skills have contributed to what has been described as a “continued metamorphosis” of the Bajan labour market.
This means that there is consistent change in what employers need and expect jobseekers to have. For example, it is expected that new hires can work independently whether they are on-site or remote.
Similarly, it is also expected they can work and collaborate as part of a team. Even if they are operating remotely, they must leverage communication interfacing technology to build a productive and engaging rapport.
Fierce competition from external places
While the labour market has always been varyingly competitive, the rise of remote work has changed the traditional structure of the labour market. For example, Barbados began its Welcome Stamp Program which opened borders to foreign expatriates, freelancers and digital nomads, who specialise in digital marketing, design, consultancy, programming, research, administration, teaching or customer service to live and work in Barbados.
While there are pros to this, such as an influx of skills and business tourism, this has also intensified the competition for local jobs. Bajan graduates are now competing with external contractors for job opportunities, which means the competition towards getting hired is fiercer.
Company re-organisation
Replacing human labour with technology is not a new development, but traditional jobs do tend to disappear as technology becomes more precise. For example, supermarkets such as Massy Stores Barbados have already invested in self-checkout counters which were largely welcomes by customers.
Perceived as being more cost-effective, convenient, and efficient, the adoption of such technology, followed by artificial intelligence (AI) programs in the service fields can encourage companies to downsize their human capital.
It is a misconception however, that technology will totally eradicate all forms of human labour and replace people with artificial intelligence. Essentially, artificial intelligence is a tool to be used to enhance human labour not replace it.
The challenge for Barbados and the rest of the world with access and investment in AI programs, is how to leverage this new technology to create the best possible solutions. Jobseekers will essentially not be replaced by AI, but they will be replaced by those jobseekers who know how to use AI.
Job outsourcing
Remote work has caused a number of companies in Barbados and the wider region to re-question the concept of the 9-5 full-time employee.
Remote work has increased the number of freelancers, self-employed vendors and entrepreneurs who prefer to work on a retainer contract. These vendors and entrepreneurs can provide a range of services which were traditionally hired in-house.
These services include software development, video editing, copywriting, accounting, digital marketing, administration and tutoring. Bajan jobseekers today have more options.
They can choose to secure a permanent staff position or start their own online enterprise.
Greater emphasis on managing their own time
Given the career uncertainty and job layoffs that occurred during that time, jobseekers today have largely subscribed to the belief of work-life balance.
Jobseekers in Barbados and the wider Caribbean community desire greater control over their time and decision-making. For example, salary is no longer the only or main consideration when job hunting today
In this modern labour market, it is now commonly observed by both job candidates and recruiters as to the question of fit. Recruiters want to know “Will this candidate be a good fit for the company”? Similarly, candidates will be asking, “Is this a company where I could learn, grown and thrive”?
The modern Bajan labour market sees both recruiters and jobseekers having a list of goals and criteria before deciding on a position. Recruiters want technology knowledgeable staff members who can problem solve in house or remote and can embrace change in an tech-advancing world.
As the world gets more digitally connected and advanced though, the human element will be more of a desired factor in the Bajan labour market. Companies want smart, intelligent and tech-savvy people in their operations who can effectively utilise the available technology with their human capabilities to produce results.
