Barbadians now have a new ???tool??? to help them understand productivity.
The Productivity Council launched a handbook ??? Getting Everyone to Understand Productivity ??? last evening during a reception at Baobab Tower, Warrens, St. Michael.
And, Parliamentary Secretary in the Ministry of Economic Affairs, Senator Jepter Ince, has given the assurance that Government is committed to improving productivity, which spurs national growth and encourages economic recovery.
Senator Ince told his audience: ???Barbados continues to embrace the challenges it faces with regard to driving competitiveness and productivity issues derived from regional integration, eroding trade preferences and increasing global trade liberalisation, to name a few.
???However, as a Government, we have said to the people of Barbados that our intent is not only to become a green economy, but one that embraces innovation and promotes productivity and competitiveness in all sectors. Thus, a national focus on productivity is a critical success factor for sustainability to be achieved and maintained.???
Acknowledging that the current economic climate was challenging, the Parliamentary Secretary cited an improvement in labour productivity, productive capacity and the performance of exports as some of the solutions being considered. He indicated that these efforts would require focused re-strategising, investment, energising of domestic activity, and the implementation of calculated initiatives to manage Barbados??? social, economic and financial challenges effectively.
He stressed that Government???s policies to develop entrepreneurship must encourage and reward innovation and creativity as a means of restructuring the economy to new paths of success. He warned, however, that productivity at the level of the organisation must be pursued continually and rigorously managed if it is to reap value-for-money for its infrastructure and human capital investment.
???These times require us to be unconventional about the path we chart as individuals, as businesses, as a Government and as a society moving forward.
One of our greatest assets is that of a highly educated pool of human resources. From this pool, we have a purposeful platform from which we can begin our efforts to improve our competitiveness prospects,??? Senator Ince insisted.