With economic uncertainty persisting in T&T due to declines in energy prices, the Employers Consultative Association of T&T (ECA) has launched a discussion series to determine how their members are being affected and to find workable solutions.
Retrenchment and Severance was the focus of the first discussion. The ECA described that issue as "of utmost importance and unfortunately, a current reality that cannot be dismissed as evidenced not just around the world but right here in T&T."
The group is calling on all social partners to engage in active consultation and "desist from unproductive confrontation if the country is to weather the storm that is now before it."
The ECA said its mandate extends beyond the remit of just ensuring representation and strength within the employer community to safeguarding and advancing the socio-economic wellbeing of T&T.
"It is because of this mandate that the ECA not only educated participants about the issue of retrenchment from several aspects, but also presented practical alternatives for consideration," ECA CEO Joycelyn Francois Opadeyi explained.
"We have long advocated that retrenchment must always be a last resort after all possible alternatives have been exhausted as this is a phenomenon that will certainly encumber our recovery process. What we have learnt is that regardless of sector or industry, it cannot be business as usual and that our country's long-term sustainability requires an all-hands-on-deck approach. In so doing, the ECA stands ready to lend support to the employer community in a holistic way that drives both business growth and national development."