During a walkabout last week, Prime Minister Dr Keith Rowley expressed concerns about deportees, but ended by saying the issues was largely out of TT hands and that the country could not turn away its nationals if they returned.

Meanwhile, Wayne Chance, Vision on a Mission head, has sounded warnings that the country’s systems are not geared to having large numbers of deportees landing at Piarco.

Gregory McGuire, though, has told Business Day that criminal returnees may be a much smaller issues than we think.

The university lecturer said contrary to popular belief, the Obama Administration is noted as one logging some of the largest numbers of deportees being returned to their respective countries. What this means is that there has been a steady stream of deportees coming back to TT over this period.

McGuire said those with criminal convictions returning to the country were more likely to be more concerned with re-starting their lives in a new environment rather than engaging in criminal activity. He believed the number that would turn to crime would be minimal and their contribution to current crime rates little more than a “small uptick”.

According to the First Citizens Investment Services Report, “After Trump’s victory, the world is left to wonder,” 12,840 undocumented Trinbagonians may be living in the US and it says the percentage of these likely to return home is “small”.

However, the economist said attention should probably be focused on young, degreed professionals and retirees, who may choose to leave a Trump America. “Working professionals may find it increasingly difficult to get work in the US. The environment may become hostile to them,” said McGuire.

According to him, they may be more likely to return to seek opportunities in TT and, as a result, bring to the fore issues of competition for limited jobs in an environment where unemployment is increasing, as shown by the latest CSO figures.

McGuire also sees an increased number of retirees returning.

The economist said there may be positive economic effects here.

He said retirees, now at the end of their work life, may be in a position to return with valuable foreign exchange, which they may invest in the economy.

This investment can take several forms, including the opening of businesses. They may also be returning with valuable skills they could teach locals.

A drastic reduction in remittances due to an influx of returnees will also not pose a problem to TT.

Unlike Caribbean colleagues Jamaica and Haiti for example, remittances make less than one per cent of TT’s GDP, according to McGuire. He said those who send remittances to their families in TT are likely constrained by their economic circumstances to continue to do so.

He said these people are likely to remain in the US.

The economist said this was also the case with unskilled (possibly illegal) labourers, who, if they have not attracted the attention of the authorities, may opt to continue to work in the US.

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infoDev-certified AP Facilitators Glenda Joseph Dennis, Managing Director of CARIFIC Ltd and Georgina Terry, The Passions to Profitability Expert and Managing Director of BPD Associates Limited, worked with the businesswomen since March, showing them how to leverage networks, grow their market share, and increase their use of technology. One even secured a deal with Whole Foods in the US.

The 14 women selected for the programme were Danielle Small (The Business Boutique), Essenese Sambury (Hair for Divas and Caribbean School of Cosmetology), Gillian Bellamy (Maracas Business Centre), Janine Mendez Franco (The New Cheeze), Laci Joseph (Just Bee You Beauty Products), Lavaughn Marin (Marin Engineering Services Limited), Leesa Ann Reize (Perfect Peppers), Melissa Williams (Creativeroomz Wholesale Trading), Mweia Elias (Empower Nutrition Limited), Rebecca Cockburn (RMC Language Consultancy), Romain Hepburn (L’Image Parfaite Clinique De Beaute Ltd.), Sarah Lezama (Lezara Consultancy Services), Sueann Ramsingh (Inspired Technologies Ltd), and Zakiya Mills-Francois (ZM Image Consultants Limited).

Danielle Small, who had previously participated in the WINC Grow Your Business Workshop in St Lucia in 2013, appreciated the knowledge and value that WINCAP could to her business, especially since she opened her first brick and mortar store in January this year. The Business Boutique, which is located on the lower ground floor of the Cross Crossing Shopping Centre in San Fernando, retails professional business clothing for women as well as Rommanel jewelry and a curated collection of handmade and local gift items. “It has been a wonderful experience,” Small said. “The facilitators are excellent. The group of women are extremely supportive and have created a dynamic network. I have begun to implement many of the marketing strategies to help grow my business.” Sarah Lezama, whose Lezara Consultancy Services caters to small and medium enterprises, said: “When I heard about WINCAP, I thought it was an ideal opportunity for me to get the support I required to project my business in the direction I wanted it to go.” Her company offers a range of business services, including accounting, strategic planning and implementation, business plans, company bylaws, budgets, forecasting, policy writing, procedure writing and implementation, training and system implementation (procurement, accounting and filing).

She’s confident that the network that WINCAP exposed her to is one that she can depend on in the future.

Valedictorian Lavaughn Marin owns Marin Engineering Services Limited, which provides general electrical installation (residential, commercial and industrial) and specialty lighting systems, as well as maintenance services for the high mast lighting systems at the Ato Boldon, Larry Gomes, Mannie Ramjohn and Dwight Yorke stadia. For her the experience at WINCAP was “extraordinary, encouraging and hopeful, to meet other entrepreneurs who have similar challenges as I do, carrying the weight of having all levels of responsibilities, yet every time we meet we are able to place these issues on the table and find solutions together. Truly amazing!” In addition to learning practical business practices and processes, she says she has learnt the power of trusting her entrepreneurial instinct.

“I am honoured to lead C&W Communications into the next phase of our development. I look forward to achieving our growth objectives, creating greater value for our stakeholders, and transforming our employee and customer experience,” Reid said.

The company was recently acquired by Liberty Global plc “Liberty Global”, the world’s largest international TV and broadband company. Reid is tasked with aligning the former UK-based company with Liberty’s Latin America and Caribbean (“LiLAC Group”) division, while strengthening the company’s growth opportunities, in particular triple-play, mobile data and fixed-mobile convergence, and seizing on the significant business-tobusiness and wholesale opportunities in the region.

“This is a time of meaningful change and development for C&W, and I am excited for the expertise and continuity that John brings to this growing region,” said Mike Fries, CEO of Liberty Global.

The release stated that Reid, a Canadian national, is uniquely positioned to take C&W to its next chapter as he has over 28 years of telecommunications and cable television experience, and has spearheaded complex integrations and pioneered a culture of transformation and engagement, first in Canada, and during the past 11 years, across the Caribbean. Prior to his role as Interim CEO of C&W, Reid served as C&W’s President, Consumer Division and was part of the executive leadership team at C&W that achieved in excess of $100m in synergies in less than 18 months following the Columbus transaction.

At Columbus, where he was President and Chief Operating Officer, he led the company to become a leader and innovator in the broadband and entertainment industry across the Caribbean and Latin America. Prior to Columbus Reid held various roles with Canadian MSO Persona, holding the position of Executive Vice President & Chief Operating Officer.

He holds a BA and an MBA from Memorial University of Newfoundland, serves as the Chairman of Bahamas Telecommunications Company (BTC), a 49% subsidiary of C&W, and is a member of the Advisory Board of Caribbean Tales. C&W serves 18 countries and is one of the largest full service telecommunications and entertainment providers in the Caribbean and Latin America.

The company, which D’Oliveira describes as a “carriers’ carrier”, with clients such as AT&T, Verizon, Digicel and TSTT, boasts of a culture where “permission to fail is part of the corporate DNA”.

“What this means,” said D’Oliveira, is that our people are encouraged to transform the customer experience. They may get it wrong sometimes, but you learn from these mistakes. We look for ways to celebrate when our people get it right and encourage them to try new things. While our competitors are in analysis or paralysis mode, we are always trying new things, fixing it and then moving on. It allows us to keep three, four, five steps in front of the competition.” One step CW Business has taken is toward becoming the largest exporter of ICT managed services in the country and possibly, throughout the region.

Over the past couple months, D’Oliveira said, the company has been moving its network and security operating centres from Columbia to Trinidad.

“Initially, we took the decision to move these facilities to Trinidad to serve the English speaking countries,” he told Business Day, “With the Liberty acquisition and the merger though, we are looking to expand those services to English speaking countries in Europe.” D’Oliveira said the result will be high end jobs for nationals, increased foreign exchange generation through ICT and a reduction in the dependence on oil and gas.

But what are ICT managed services? D’Oliveira explained that unlike a traditional IT department that had to be staffed, equipped and managed by a company, these functions are outsourced under managed ICT model.

“In our model, we own the infrastructure for the hardware and the software. We implement it. We give you everything you need to operate it and we manage it on your behalf. Instead of having to pay upfront fees and capital to acquire IT, we fully had to fund the entire investment and charge the customer a monthly fee for the service. As your needs increase, the costs increase, as your needs decrease, the cost goes down.” The CW vice president said the service could be customised to fit the needs of small, medium or large businesses.

Beyond managed ICT services, D’Oliveira said the company had one of the broadest solutions portfolios throughout the region, covering traditional unified communications such as PBX, video conferencing, messaging collaboration and IT security, connectivity, managed network and digital content distribution solutions.

D’Oliveira elaborated on this: “This is providing information to specific locations at specific points in time, also known as narrowcasting. I may have one site that needs specific information ‘pushed’ or sent at two o’clock. I can push through that information to the end user who needs it.” The benefit here was being able to give a group of identified users the info rather than mass distribute it.

In addition to the strength of its corporate culture, CW Business’ financial strength is one of its key assets said D’Oliveira, more so with the presence of Liberty Global. He told Business Day that the parent company’s plan was to keep investing in CW ‘s managed services business.

“T hat continued investment in our infrastructure and our people I think is critical,” he said. “With us, it is about long term investment, whatever we invest in now is for the next 10 to 20 years, which is really healthy for the business at the end of the day.” D’Oliveira said the success of CW’s approach is shown by recognition from leading industry analysts. He said CW has received accolades from Gartner, Frost and Sullivan, IBC Reports and Transparency Research.

“Gartner, which is the most noteworthy.” said D’Oliveira, “acknowledged that CW is in the top five disaster recovery managed IT services globally. Not regionally. Not in Trinidad.” Meanwhile, Frost and Sullivan named CW ‘Company of the Year’ in 2015.

“Gartner looked at the top 100 companies. There was no TSTT. There was no Digicel. There was no Fujitsu. None of these were evaluated. We came in the top five.” “That to me, is a testament to the deep portfolio that we built, the people around that portfolio, the processes we’ve put in.

And we’ve been recognised.” he said.

Good industrial relations practices, in a nutshell, charge both employer and employee with certain rights and responsibilities, which, if not respected and upheld, can lead to conflict and ultimately, disputes.

For a country to realise improved economic growth and competitiveness, a sound and harmonious industrial relations climate is a key factor.

A regulated and cooperative industrial relations system requires all stakeholders to contribute by actively practicing sound industrial relations. This mitigates against labour unrest, financial consequences due to losses in productivity, and general rifts in the employment relationship.

The incorporation of good industrial relations procedures should therefore be a priority objective for companies.

The law invariably guides the terms and conditions of the employment relationship. Specifically, in Trinidad and Tobago, the Industrial Relations Act Chapter 88:01 is the main piece of legislation governing the practice of industrial relations. It establishes the Industrial Court of Trinidad and Tobago as a superior court of record which is the main arbiter in industrial disputes.

However, the Act also provides for dialogue and conciliatory approaches between the employer and employee or their representatives. Notwithstanding the Industrial Relations Act, there are also other important pieces of legislation guiding the employment relationship such as the Retrenchment and Severance Benefits Act, the Maternity Protection Act and the Workmen’s Compensation Act among others.

In keeping with the principles of good industrial relations, all parties, the employer, employee and the union must abide by the terms and conditions of the collective agreement. As an operationalised document regulating the conditions of work, adherence to due process is mandated. This supports equity and fairness in the employment relationship. Particular emphasis should be placed on procedural fairness, which goes beyond cause for action to include process correctness.

In striving for a fair and equitable system, treating with offences and employee grievances should follow the path of natural justice. By allowing employees the right to be heard, the principles of fairness and equity in the workplace are exercised, thus mitigating against the possible negative outcome for either party.

As a step towards learning more about developing and implementing best practices for your organisation, the Employment and Labour Relations Committee of the TT Chamber has carded a session on November 30 titled “The Impact of Industrial Court Judgments on your Business”. Gauging from the overwhelming response, there is a clear need for this type of educational programme. Although registration is now closed, the TT Chamber plans to repeat the session in April 2017. Anyone interested in attending the April session, is kindly asked to reserve a space by calling: 637 6966 extension 1228 or email ckurban@chamber.org.tt.

The TT Chamber continues to play its part as we work towards open dialogue, mutual respect and win-win outcomes in the employment partnership

Young people reading this as 2017 approaches are probably thinking what does next year hold in store careerwise.

This very question was the starting point for ACCA’s recently-launched report Generation Next, one for the largest surveys across the world, delving into the profession and what the hopes and career dreams of 19,000 under 36-year-old finance professionals looks like.

Polling over 650 young people across the Caribbean alone, a key finding highlighted in the report is that our young professionals are amongst the most entrepreneurial in the world. Eighty-nine percent of young Caribbeans want to start their own business in their next career move or later in their careers, compared to 81% globally.

Generation Next has grown up in the age of the startup and they see themselves as part of it highlighted by such a large majority holding aspirations to go it alone.

Unemployment or fears of redundancy are often the catalysts for many people becoming self-employed. According to The World Bank, the Caribbean is a region of entrepreneurs, with nearly 70% of the workforce self-employed.

However, the majority of respondents in the Caribbean think that there aren’t enough roles available or enough capacity in where they want to go in future (44%). Job creation can be problematic especially when economic conditions are less favourable. A rising trend in many countries is to promote entrepreneurship and small business development to combat the lack of quality jobs available in the region’s larger or multinational businesses. This initiative is clearly being realised by much of the Caribbean’s youth.

Crucially, the research uncovered that training and development, career progression and promotion – and of course salaries – are their main priorities globally. Respondents also indicated they were more likely to stay with an employer if offered the opportunity to learn and develop skills (88%), career progression opportunities (88%) and a competitive financial remuneration package (87%).

What this shows is that future finance leaders are happy to seize the initiative in the labour market to achieve professional satisfaction. They know that demand for their skills is high and if their employer isn’t delivering, they won’t wait around. The results mean that employers can’t attract, nurture or retain the finance leaders of tomorrow in the same way they did the leaders of today.

This has clear repercussions for the labour market. The challenge for employers large and small is making sure they provide the sort of work environment and clear path for progression that the best of the next generation demand.

The ‘company woman’ Globally, while generation next employees of both genders sought rapid career progression, women respondents were more likely to show loyalty to their current employer than their male counterparts.

The research showed that women are more likely to be happy with their current remuneration (36%, compared to 30% of men) and to expect to stay with their current employer in their next role (42%, compared to 37% of men).

And while men and women were equally likely to seek roles on the basis of remuneration and career progression, the research indicated that women in generation next are still expecting to balance their job with family life. Women are more likely to accept a role on the basis of work life balance (87%, compared to 69% of men) and flexible working arrangements (75%, compared to 69% of men).

Rise of the robots Much has been written recently about the threat of automation to jobs. But generation next understands that automation will replace the need for human capital across a number of functions. They are not threatened by this, seeing it as an opportunity to free up time for strategic activities. More than half (57%) of respondents believe that technology will replace many entry level roles in the profession.

However 84% say that technology will enable them to focus on much higher value-added activity.

A great foundation on which to build There was global consensus amongst respondents that their training as a finance professional stands them in good stead for the future.

In the UK for example, 90% agree with the statement “a finance career background will be valuable for organisation leaders in the future.” Finance is clearly valued as a platform for future careers, whether someone stays in the finance function or not.

Our report also explains how to navigate a successful career in finance, from building your own brand, to looking for mentors to building your network. And we also offer guidance to employers based on this feedback. The loud and clear message from Generation Next is that career development opportunities are key to attracting and retaining talent.

It’s an optimistic outlook for the profession and for those with drive and determination working within it.

In a media statement yesterday, the company noted that while it was currently undergoing the annual audit of its financial results for the fiscal year ended September 30, 2016, preliminary unaudited results indicated a drop in revenue of TT$3.2 billion or 16 percent as compared to the previous year.

“Despite the drop in revenue, the unaudited net income improved by TT$286 million or 35 percent from a net loss of TT$819 million in 2015 to a loss of TT$533 million in 2016,” the company stated and noted that lower operating expenses were instrumental in reducing the loss from the prior year. Also contributing to the lower operating cost was a reduction in operating expenditure by $500Million from fiscal 2015 to fiscal 2016 which included a reduction in overtime.

There was also an increase in refinery utilisation from 55 percent in 2015 to 73 percent in 2016 and 15 percent increase in product sales to the local, regional and international market, the company stated.

“The Company continues to meet its debt service, required capital expenditure, and asset maintenance obligations with the support of its shareholder,” Petrotrin stated and noted that its Board, since assuming office one year ago, was taking the “necessary steps to realign cost and capital requirements given the projected lower revenue streams due to the fall in oil prices – which decreased by as much as 27 percent for fiscal 2016 as compared to 2015.” “The Company is in detailed discussion with all stakeholders with respect to increasing crude production from our Petrotrin Trinmar Marine Operations through a series of interventions aimed at unlocking oil volumes in that operation.

Other initiatives in our land operations include continued drilling and workover activities based on ongoing seismic data from recent surveys and a number of enhanced oil recovery initiatives based on steam and carbon dioxide injection,” Petrotrin stated.

“Petrotrin also expects to realise increased refinery throughput for fiscal 2017 which will result in further increased product sales and revenue to the business,” the company stated while reaffirming its commitment to focus on asset integrity improvements and enhanced safety performance.

“Petrotrin remains a most important part of the national economy of Trinidad and Tobago and continues steady improvements geared towards increasing our already strong contribution. Our efforts are to emerge from this difficult period in a fundamentally stronger position. We are confident of improved and sustained performance in the years ahead,” the company stated.

Meanwhile, Oilfields Workers Trade Union (OWTU), Chief Education and Research Officer, Ozzi Warwick, said the company’s top managers had to accept blame for the continuing decline in revenue saying there had not been a focus on ramping up oil production.

“Heads should roll for this dismal showing,” Warwick said, and noted that the union had presented a detailed plan to the Prime Minister regarding the way forward for the oil company

Media 21 said nothing revealed by Ramdeen at a news conference on Tuesday, “amounts to any wrongdoing on the part of the company or any person in relation to its expression of interest.” The company said it is satisfied that its lands are “more than 90 percent ready for the commencement of home construction.” Media 21 further stated it has been able to demonstrate proof all the required documentation in this matter.

The company said contrary to Ramdeen’s claims, it is not a media house but a limited liability company that has been lawfully engaged for over 25 years in a number of business activities pursuant to its bye-laws. Media 21 said it had heard nothing from the HDC since its expression of interest and in those circumstances, has moved on to develop the lands on its own to offer to those interested in home ownership. The company said at no time was it requested to bid on any PPP projects nor has it ever submitted a bid, as claimed by Ramdeen. Media 21 said it only submitted an expression of interest and will quite readily do so again should the opportunity arise in the future.

Nigel Salina, an international business consultant from Cascade, and his company Nigel Salina and Associates are challenging the minister’s decision, which Salina said he was told about in a letter from Clico’s attorneys, dated September 26.

Justice Frank Seepersad, on Monday, granted leave to Salina at an in chamber hearing.

Salina, who was appointed a director of Clico in September 2008, was not entitled to the bond offer of the government in 2010 and 2011.

Salina, who is represented by a team of attorneys led by Ramesh Lawrence Maharaj SC, said he was distressed and angered as he had to explain his part as a director of Clico and has been completely exonerated but is being denied payment.

He said he received payment of US$461,748.04 last year and is yet to receive the remainder US$110,298.67 in order to meet daily living expenses and pay for his children’s private education.

Salina is seeking several declarations that the decision is unlawful in that it is inconsistent with and departs from the previous clearly stated lawful policy of the government and Central Bank without a cogent justification or lawful reason.

He also wants the court to declare that the decision is unlawful and unfair in that it frustrates and departs from his reasonable and legitimate expectation that he would be treated the same as other creditors of Clico and paid the 15 percent balance.

He claims that the decision is unfair and in breach of the principles of natural justice, in denying or postponing payment, contrary to policy and contrary to what they had been led reasonably to expect without being informed of a (and in breach of their legitimate expectations), without informing him of the proposed change in policy or giving him an opportunity to be heard before the decision was taken.

The matter comes up for hearing again on December 15 in the San Fernando High Court.

Salinas’ lawsuit is one of many filed against the state by Clico policyholders following the Central Bank’s suspension of the insurance company’s activities after the company’s collapse in January, 2009.

The TT Government currently has control of Clico and portions of the financial arm of the CL Financial parent group as part of a billion-dollar bailout plan for the cash strapped conglomerate.

Forde made this comment as he and other members of the Corporation sat with members of the Land and Infrastructure Joint Select Committee (JSC) at Tower D of the Port-of-Spain International Waterfront Centre.

Given the current state of the economy, Forde said the PTSC is seeking ways to increase its revenues and to be less dependent on the Treasury. He said the Corporation was grateful to Finance Minister Colm Imbert for allocating a sum of $42 million to it in the 2016/2017 Budget.

However Forde said the PTSC was aware that Imbert and the Government “may not have that deep pocket going forward.” As he spoke about land assets which the PTSC is seeking to monetise, Forde said there is a draft note with respect to, “the cost of bus tickets.” He told JSC members that the price of bus tickets in TT have, “not been increased since 1990.” Forde explained that an analysis of inflation rates from 1990 to 2016 suggests, “it may be in the hundreds of percent.” He also noted that while all other different transport modes in the country have increased their costs at different times, the PTSC has not done so. Indicating that no decision has been taken at this time, Forde gave the assurance that any adjustment in bus ticket prices will not be to “bend the commuter.” He stressed any future adjustment must ensure the ticket prices are reasonable to the commuter while ensuring, “that we realise some sort of revenue to offset the subdsidies that come into the PTSC.” JSC members were told the current level of the subsidy to PTSC is 68 percent.