Submitted by Due Diligence
We hear from the Minister o Finance (and others) that the road to recovery and
sustainable growth is constructed on such things as:
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Increased Competitiveness
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Increased Productivity
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Increased Efficiency
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Accountability
Sounds great; but the key is in the execution. The same principles, of course, apply to both the public and private sector.
The article on Page 3 of Barbados Today illustrates an example of execution of those principles in the private sector.
According to the article, RBC is clamping down on those employees (mainly those employees absorbed in the merger with the former RBTT) whose performance has been substandard – those who have performance gaps in meeting targets, deadlines etc. Making them accountable for their lack of productivity.
Employees say RBC cites poor performance from 2008, No doubt these measures should have been started as soon as possible after the merger in 2007 but mergers do take some time to be digested. It is better late than never.
That RBC is said to be focusing on the former RBTT employees suggests that the performance standards, and accountability, of their former employers was below the standard of RBC. RBC is a global enterprise and DD expects that RBC is applying the same performance and accountability standards to its employees in Barbados (and Antigua, Bahamas and T&T) as it does from its employees in similar positions in Canada, Nothing wrong with that.
It is time for the employees to get with the (RBC) program. That is the only way RBC can be productive and competitive and in a global market; and achieve sustained growth.
The road to sustainable growth in the public sector is no different. The MOF and PM and all of government have to follow RBC’s example, by applying global standards in performance measures and accountability, if it really wants to increase efficiency, productivity and competitiveness to pave the road to sustained growth.
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