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AE Spotlights: Strategic Insights from the C-Suite Featuring Brydens Stokes
The COVID-19 pandemic has deconstructed the economic landscape as we know it. Despite this disruption, many positive stories have been told of organisations that reimagined themselves and emerged stronger. We invite you to watch (or read the transcript of) the interview with the Managing Director and Human Resource Manager of Brydens Stokes, as we look at the impact of the pandemic on the distribution sector and its implication for their strategy and their people.
AE Spotlight Video: Sagicor General
The COVID-19 pandemic has deconstructed the economic landscape as we know it. Despite this disruption, many positive stories have been told of organisations that have reimagined themselves and came out stronger on the other side.
We invite you to read the edited interview with the CEO & President of Sagicor General, Keston Howell, and the Assistant Vice President of Human Resources, Paula Walcott. We look at the impact of the pandemic on their strategic plan and how they navigated its challenges by keeping people as a critical part of their strategy.
Do you need a new strategy?
It is that time of year when we are all shifting our focus to the upcoming year and starting annual strategic planning. There are two questions when considering your next steps in executing your strategy.
1. Do you have a strategy at all?
2. Is it a good one?
Your answer to these questions will determine how you proceed. Read our latest blog post for some tips on how to answer them.
Covid-19: Strategic Insights from the Caribbean C-Suite
Strategy is often about identifying the patterns within the invisible and taking calculated risks to take advantage of potential opportunities. The Covid-19 pandemic has tested our resolve by disrupting our normal ways of doing business. In this article we introduce an upcoming set of interviews with senior leaders to discuss and garner inspiration from their strategic response to the global pandemic.
4 Reasons Why I Knew The Results of Your Engagement Survey Before You Even Started
With the needle appearing stuck on employee engagement, we discuss four key, but unspoken, reasons why organisations are struggling to get the most out of employee engagement surveys.
Strategy
Interview with Simon Naitram, New President of the Barbados Economics Society
In this interview with Simon Naitram, the 2019 President of the Barbados Economic Society (BES) shares his perspective on the Barbados Economic Recovery and Transformation (BERT) Plan, the restructuring of the Barbados economy and the role of the BES.
Perceptions of Data Adequacy Vary Across Managers
In the final article of our 4-part series on the results of our 2014 Survey of Use of Data in Barbadian Organisations, we delve deeper into managers’ perceptions of data adequacy.
How Companies Use Available Information
In Part 3 of our 4-part series on the results of our 2014 Survey of Use of Data in Barbadian Organisations, we investigate the extent to which corporations use the data available to them to inform decision making.
Attitudes Towards External Information
In Part 2 of our four-part series summarising the results of the 2014 Survey of Use of Data in Barbadian Organisations we investigate the attitudes towards information on the external environment.
The Relationship Between Data Practices and Financial Performance
In our first of four articles summarising the results of our Use of Data in Barbadian Organisations Survey, we discuss the Relationship Between Data Practices and Financial Performance. We have been taught that our products and services should be designed to meet consumer demands, and that our analysis of our environment should consider all of the external factors impacting our business. But we often fall short of this ideal.
A Preliminary Look at the Mass Market, Mass Affluent and Wealthy in Barbados
This article is a first attempt at understanding the size and spending potential of the three main consumer markets in Barbados – the mass market, the mass affluent and the wealthy. Historically, companies seem to have defined their market somewhat intuitively. While approaching segmentation this way has some advantages, the main disadvantage is that it limits the ability to plan ahead. Without an understanding of how target markets are changing, companies will find themselves planning with the inherent assumption that the future will be similar to the present.
The Social, Economic and Demographic Characteristics of Barbadian Young Adults
The next population census for Barbados is due in two years in 2020. By this time, the oldest Millennials will be 40 years old, comfortably in the middle of adulthood. This article considers how young adulthood has changed between the 2000 and 2010 Population census in Barbados, focusing on differences in timing and degree. The main finding is that Young Adults in 2010 were delaying starting a family and getting married, possibly due to longer stints of formal education and higher probabilities of unemployment.
The Barbados Mortgage Market After Nine Years of Economic Strain
The mortgage market has proven to be one of the more resilient consumer financial markets in Barbados, growing at elevated rates long after the economic downturn began. But from 2013, growth has been subdued. This article investigates key indicators that may explain the resilience of the mortgage market and shed some light on what will be required to spark a revival in mortgage growth.
Exploring the Green Economy in Barbados
The Barbados Green Economy Scoping Study provides an assessment of the potential of greening various industries in Barbados (tourism, agriculture, fisheries, housing and transport) as well as outlines a roadmap for promoting the spread of this idea throughout other areas of the economy and society. Through a stakeholder consultation process, the study outlines opportunities for greening each of the above areas within the context of the key cross-cutting issues of water, land, energy and waste.
The Impact of Climate Change on Caribbean Business
While the effects of climate change are likely to be significant for businesses located in small states like those in the Caribbean, climate change also presents tremendous business opportunities. In this article, Dr. Winston Moore explores the risks and opportunities that climate change poses for businesses operating in the Caribbean.
Small Business Financing in Barbados Are there really insufficient options?
In Barbados, there appears to be a general consensus that small businesses are vital contributors to economic growth in Barbados. There also appears to be widespread agreement that access to financing is a challenge in Barbados. This article explores the range of financing options available in Barbados and raises the possibility that the financing challenge may reflect mismatches between financiers and borrowers, and not the lack of financing.
The Recovery of Consumer Spending
The Barbados economy appears to be emerging from a prolonged economic slump, fueled mostly by personal consumption. In large measure, funding challenges appear to explain the contraction in consumer spending experienced throughout the downturn, and the shift from purchasing non-essential items (such as vehicles) to purchasing essential items (such as food) over the last 7 years. The year 2015, however, may turn out to be a pivotal year, as all sources of funding appear to be on the rise. This is positive news for consumer goods and retail businesses, as 2015 could mark the return of at least moderate growth in consumer spending.
Marketing, Branding and Customer Experience
Non-Traditional Offline Advertising Channels in Barbados – Do They Work?
The audience for non-traditional advertising channels has always been somewhat uncertain. In May 2018, as part of our Audience Analysis survey, Antilles Economics surveyed Barbadians to understand their exposure to, interest in and recall of advertisements on non-traditional channels. This SlideShare summarises the findings.
A Preliminary Look at the Mass Market, Mass Affluent and Wealthy in Barbados
This article is a first attempt at understanding the size and spending potential of the three main consumer markets in Barbados – the mass market, the mass affluent and the wealthy. Historically, companies seem to have defined their market somewhat intuitively. While approaching segmentation this way has some advantages, the main disadvantage is that it limits the ability to plan ahead. Without an understanding of how target markets are changing, companies will find themselves planning with the inherent assumption that the future will be similar to the present.
Understanding the Customer Experience Reactions of Millennials
In 2015, Antilles Economics and Blueprint Creative embarked on a study to understand how Barbadian customers reacted to positive and negative customer experiences as well as generally what they looked for when choosing the companies and brands they transacted with. We discovered that Millennials looked for the same basic attributes in the companies and brands they did business with as older generations, and they are no more or less sensitive to a brand’s reputation. Where they differ is that they complain less, are more willing to pay extra for excellent service, switch brands faster and are more likely to share their experiences, both good and bad, with others.
The Social, Economic and Demographic Characteristics of Barbadian Young Adults
The next population census for Barbados is due in two years in 2020. By this time, the oldest Millennials will be 40 years old, comfortably in the middle of adulthood. This article considers how young adulthood has changed between the 2000 and 2010 Population census in Barbados, focusing on differences in timing and degree. The main finding is that Young Adults in 2010 were delaying starting a family and getting married, possibly due to longer stints of formal education and higher probabilities of unemployment.
Snapshot of Barbadian Millennials on Social Media June 2017
84% of millennials are active on social media, and they are engaged. They don’t simply passively observe, they click on advertisements, the ‘like’ things, the comment and they post. This infographic outlines their top ten activities and their favorite social media platforms.
From the Minds of Marketers with Ron Johnson
In our third interview with influential marketers in the Caribbean, we speak with Ron Johnson, the Managing Director of Barbadian-based branding agency, Blueprint Creative. Blueprint Creative has a unique perspective on advertising, branding and marketing that Ron shares in this insightful interview.
From the Minds of Marketers with Giselle Carr
In our second interview with influential marketers in the Caribbean, we speak with Giselle Carr, Partner with Abovegroup. Founded in 2001, Abovegroup has grown to become one of the most respected and forward-thinking design consultancies in the region, with a reputation for the consistent delivery of beautiful, memorable solutions. Giselle conducts research into brand trends, market and industry developments, in order to develop invaluable insights and deliver smart solutions.
From the Minds of Marketers with Greg Hoyos
In this first of a series of articles to introduce you to thought leaders across the Caribbean business landscape, one of the most prolific and successful marketers in the region, Greg Hoyos, shares his thoughts on the state of marketing in the Caribbean.
Information Gaps Limiting Investing
The Barbadian financial market has not always behaved as theory would suggest, especially when considering most investment products. One theory explaining the disconnect between investment theory and observed market trends in Barbados could be that insufficient information results in suboptimal wealth allocation. Our research uncovered four information gaps that influence potential investors’ demand for investment products.
It’s Confirmed! Customer Service Vital For Business Survival in Barbados
Customer service is very important to Barbadian consumers – so much so, that they would consider paying more to benefit from an enhanced customer service experience. At the same time, however, many consumers feel trapped and unable to switch companies if they receive poor service. Despite these feelings, consumers are not always voicing their complaints to their service providers. Additionally, these consumers are not very vocal online. They are not keeping silent though. They are telling friends, family members and colleagues about their service experiences, and making decisions about which companies to do business with based on the experiences of others.
Social Media Penetration in Barbados
The use of social media has become commonplace in Barbados. In a survey conducted by Antilles Economics in May 2018, we confirmed that 84.4% of Barbadians are active on at least one social media platform.
Human Resources
Age and Employee Satisfaction in Barbados
It is reasonable to expect that employees at the beginning of their career will be less satisfied and engaged than those approaching the end of theirs. Or similarly, older employees would be more successful and thus more engaged than younger employees. Apart from success, there are other factors that could in theory influence engagement levels. However, research conducted by Gallup suggests that, while there is some merit to this hypothesis of improved job satisfaction with age, the improvement in satisfaction levels is marginal at best. Furthermore, research recently conducted by Antilles Economics and Blueprint Creative for Barbados confirms that, on aggregate, employee engagement does not appear to improve notably with age.
Why Train Employees – An Argument for Training and Development
A company’s human resources is arguably its greatest asset. In order to get the most out of its physical assets, both in terms of output and longevity, a company will invest in maintenance and repair, on a regularly scheduled basis, of these assets. The benefits of training and development accrue ultimately to the organisation, contributing in no small measure to its success, and to the benefit of the customers it serves. This article develops the case for training and developing employees.
Recruiting Millennials in Barbados
Results from the Employee View of the Employer Brand survey undertaken in 2017 by Antilles Economics and Blueprint Creative suggest that Millennials are more likely to be actively job hunting than their older counterparts. But does attracting Millennials require companies to adopt an entirely different approach? Our research suggests that Millennials are looking for the same things from an employer as their older counterparts, but they go about their search differently and they encounter different challenges
The Power of Advanced Education in Barbados
While there is some level of enjoyment in furthering one’s education, schooling is generally viewed as an investment. By opting to undertake additional schooling, one incurs direct expenses (such as tuition, book costs etc.), as well as opportunity costs in the form of foregone wages and/or leisure time. In order to lure an individual to further their education, he/she must be convinced that the benefits of higher education outweigh the costs.
This raises the question, what are the benefits of education?
Making the Invisible Visible, Presentation at HRMAB Conference 2018
HR professionals across the globe all face a similar challenge. While CEOs, CFOs and CMOs all know how to measure visible indicators such as ROI, sales and revenue, to be effective, HR professionals typically have to track ‘invisible assets’ such as employee engagement, job satisfaction and the impact of company culture. It’s hard to manage something you cannot see, cannot accurately measure and cannot purchase. But it’s not impossible. This workshop was designed to provide HR professionals with the tools and methodologies they need to unearth their company’s invisible assets and suggest practical tips for leveraging them.
The Difference Between Contented and Engaged Employees
In an effort to improve their eNPS, many talent management professionals focus on improving the proportion of Promoters and/or decreasing the proportion of Detractors. Few target the Passives, or what we call the Contented, even though in many cases, the Contented make up the majority of their team. In analysing the differences between employees that were Promoters and those that were Passives, three reasons emerged from our study of the Employee View of the Employer Brand that underscored why companies should care that their employees are merely content.
