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I'm happy that some of you recognised the Code of Ethics mentioned in our last
newsletter as the 4-Way Test adopted by Rotary International. I highly
recommend it as a
useful guide when you are unsure of the right way to approach a situation.
CRS is proud to be celebrating 12 years of
business. We recently had a "paint" staff party, whereby new staff members
painted a picture to join our collection of masterpieces all painted by CRS
staff members. This is the result. What do you think of our talent?
If you read the local and international news
on the economy, you may be feeling a bit alarmed about the future. Are we
heading for a recession? Will escalating food and other prices make the
cost of living untenable? What about the effects of global warming and
climate change?
Over time I have noticed that the volume of
recruitment business is directly proportional to the perceived strength of the
economy, which is strongly affected by what is happening in the local (Trinidad
& Tobago) oil industry. For instance, when oil prices dropped in the early
2000s then so did general confidence and that led to a sharp decrease in
recruiting activities. Companies that are experiencing a downturn in
business naturally put a stop to recruiting until business picks up again; then
there is a frenzy of hiring to make up for the personnel shortages accumulated
during the hiring freeze.
I have observed a more than 40% drop in new
I.T. recruitment requirements from this time last year. This has been
noticeable since December 2007. There is normally a spike in the amount of
new business in January which just did not happen to any great extent this year.
Right now oil prices are at a record high
and experts have been saying that the economy in Trinidad & Tobago is strong.
So why the fear of making normal business decisions of expansion and renewal?
A major factor may be that many of the large oil companies in Trinidad have been
laying off staff. This reflects the slowing down of new gas and oil finds
(yes, it ought to be said that way round) and the oil companies are quick to cut
costs when their profits are in jeopardy.
Yet, it is clear that there is gas and oil
here to last for many more years, plus the strong likelihood that more will be
found. It looks like the stock markets are recovering and there is no
prospect of a recession like we've experienced in the past. The lay offs
are mostly confined to the oil industry. For everyone else, a "wait and
see" approach to business could actually trigger a self-fulfilled prophecy by
causing a downturn.
I say we should be confident in our business
prospects and plan for increasing success. There are plenty of
opportunities and plenty of money around and it is a good time for strategic
career moves. That is why CRS is currently investing in new systems to
cope with future recruitment growth and market expansion. Is your business
ready to do the same?
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We would love to hear what you think of this issue of CRS News.
And of course, if you have any suggestions for upcoming issues that you would
like to share with us, please send those too.
Comments, suggestions, feedback?
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