Finance Minister Colm Imbert has signed the first tranche of a policy-based loan agreement in the sum of US$180 million with the Corporación Andina De Fomento (CAF) Development Bank.
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HR can help build T&T’s economy
It is important that the human resource management profession in T&T contribute, not only at the company level, but also to the overall success of the economy, Nigel Marquez, president of the Human Resource Management Association of T&T (HRMATT), said yesterday.
“We want to ensure that we contribute to national economic policy by allowing HR to create and develop a sustainable economy for future growth of the nation’s gross domestic product (GDP) and gross national product (GNP),” he said yesterday at the start of a breakfast seminar on the future of the HR profession at the Carlton Savannah Hotel, Cascade.
“This conference will centre on the new business focus from short term to long term sustainability and HR leadership will be a huge driver in ensuring that businesses not only succeed in the short run but develop long term survival strategies,” he said. Marquez said the role of HR is to ensure that workers are motivated and they contribute to the company's productivity and by extension the overall economy.
“The role of the HR professional is to set up clear systems in the organisation to ensure that the worker is able to produce at optimum efficiency so that the potential of the business can be realised. It is a well proven fact that a well respected, properly motivated worker will produce more for the business for which they work,” he said.
“HRMATT provides a range of education opportunities from certified courses, educational online and information services. We also host various conferences and seminars for professionals and students throughout T&T and the region. HRMATT has taken a decision to ensure that it plays an integral part in the growth of the HR profession,” he said.
Robert Garcia, director of Global Business at the Society for Human Resource Management (SHRM), who gave the feature address, said the downturn in the international economy has had an impact on recruitment practice. “Companies are still reluctant to hire new workers. The economy has made people take a wait and see attitude. Only in 2013 in the US did recruitment and hiring start to pick back up again,” he said.
Garcia said HR is a field to get into as in the US, statistics show growth in that field would be higher than for other professions.
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