6108MAR Strategic Management: Labour Needs and Supply

Shipping activity is also famous in the region and plays an important role in the economy. It is also an important “International Financial Centre”. The government of the Cayman Islands has taken a decision to review the management of labour and development of Caymanians in the labour workforce and as a result have agreed to reorganise the two existing departments; namely the Department of Immigration and National Workforce Development Agency; into a defined organisation; namely Workforce Opportunities & Residency Cayman (WORC). The objective of the government for taking such an action is to boost the financial condition of the islands, and to boost jobs and business opportunities. Therefore a detailed strategic plan is to be devised.

Existing areas of job opportunities in the country

As already discussed the most promising and viable sector of the territory in terms of economic gains is the tourism sector. One of Grand Cayman's primary attractions is Seven Mile Beach, site of some of the island's lodgings and resorts. Named one of the Ultimate Beaches via Caribbean Travel and Life, Seven Mile Beach is on the western shore of Grand Cayman Island. It is an open property and conceivable to walk the full length of the shoreline, past every one of the lodgings, resorts, and open shoreline bars (Pulwarty, Nurse and Trotz 2010). Chronicled locales in Grand Cayman, for example, Pedro St. James Castle in Savannah, likewise draw in guests. Sightseers additionally visit the "sister islands", Little Cayman and Cayman Brac. Every one of the three islands offer scuba jumping, and the Cayman Islands is home to a few swimming areas where sightseers can swim with stingrays. The most prevalent zone to do this is Stingray City, Grand Cayman. Stingray City is a best fascination in Grand Cayman and initially began in the 1980s, when jumpers began bolstering squid to stingrays. The stingrays began to relate the sound of the watercraft engines with sustenance, and subsequently visit this zone year round. Other Grand Cayman vacation spots incorporate the Iron shore scene of Hell, the 23-section of land marine amusement stop Boatswain's Beach, likewise home of the Cayman Turtle Farm, the creation of gourmet ocean salt, and the Mastic Trail, a climbing trail through the backwoods in the focal point of the island. The National Trust for the Cayman Islands gives guided visits week by week on the Mastic Trail and different areas (Fichtner 2016). The two other prospects of job creation and business setup are ship building and financial services.

Plan: Stage 1

Assessment of the Cayman Islands current and future market labour demands

The present scenario of the Cayman Island’s economic sectors imply that most of the jobs that will be created will be from the tourism and hospitality sector. The tourism and hospitality sector is the primary field of investment and job creation in the territory (Novelo-Casanova and Suárez 2010). The 1^st thing needed to be done in this regard is to create training institutes that will be creating skilled labour force for the particular sector. The hospitality business exists to serve the requirements of visitors whether it is sustenance administration, lodging, or both (Boella and Goss-Turner 2013). Therefore, preparing and building up one’s staff is critical to having fulfilled visitors. Every worker can influence the visitors' involvement in positive or negative ways. In spite of the fact that preparation requires assets, making a gathering of all around prepared staff will influence oner primary concern by expanding benefits and client retention. Who really directs the preparation relies upon the kind of preparing required and who will get it. At work preparing is ordinarily led by directors or ranking staff individuals. Off-the-work preparing can be directed either by in-house faculty or outside educators. In-house preparing is the everyday obligation of managers and senior representatives. Heads are at last in charge of the efficiency and, in this manner, the preparation of their subordinates. These bosses ought to be instructed the procedures of good preparing. They should know about the information and abilities important to make a profitable representative. This data can be found in both the activity examination and the expected set of responsibilities. Coaches ought to be educated to build up objectives and goals for their preparation and to decide how these targets can be utilized to impact the efficiency of their areas of expertise. They additionally should know about how grown-ups learn and how best to speak with grown-ups. Private ventures may need to build up their administrators' preparation capacities by sending them to courses on preparing techniques. The speculation will pay off in expanded profitability. Everything begins with arranging, work examination, and sets of expectations for each worker. Complete sets of responsibilities separate obligations, parts, and duties into consistent undertakings. With those set up, one would then be able to decide how to confer essential data and directions for each undertaking workers need to ace. Instructional pamphlets serve twofold obligation as agendas for execution assessments.

The labour demand can be assessed by understanding the volume of people coming in the island and how many people are required to support such a huge tourism infrastructure. There can be a detailed assessment and inspection of the prospects and the plan can be drawn after that (Brida and Pulina 2010).

Stage 2

Preparing and developing Caymanians for the workforce and matching and placing Caymanians in the labour market

It is imperative for the authorities to take adequate steps to prepare and equip the workforce to be skilled enough to be helpful in productivity. The Department partners with industries to assess the Cayman Islands market labour demands, assess gaps in the Cayman Islands work force needed to meet these demands, assess training and development programmes that could be implemented to bridge these gaps and identify current labour demands that would need to be filled through work permits. Additionally, the Department is responsible for the development, management and oversight of employer accreditation. The Department’s aim is to reiterate that investment in Caymanians’ knowledge and skills over a lifetime must remain a priority linked integrally with the economy, business community, Education system and all Caymanians. The Department implements and delivers training and development programmes needed to bridge market demand gaps and deliver the coordination/oversight of workforce development training and development initiatives, including an enhanced focus on Technical Vocation Education Training. The Department is dedicated to ensuring that the Caymanian workforce whom are available and competent are effectively placed in the labour market. The Department delivers skills and aptitude assessments as well as career counselling. The “Training for workforce 4.0” is here. The approach of Industry 4.0 – the fourth modern transformation – will carry with it an expanding strength and dependence on innovation to create sweeping efficiencies over a wide assortment of areas (Gayle and Goodrich 2014). From developments in sensors and figuring, bio innovation and reproduction to nano innovation, distributed computing, keen innovation and mechanical technology.

Advances in innovation officially imply that people’s wellbeing can be observed remotely, web based shopping can be followed, and the temperature of our homes controlled while people are still at the workplace. Yet, a large number of these 'new' advancements have been around for quite a long time.

Radio-recurrence distinguishing proof was first found in the mid 70s, 3D imprinting in the mid 80s and expanded reality as long prior as the 60s. Industry 4.0 is as much a hierarchical upheaval as it is a mechanical one. Machine administrators and experts assume a basic part in most assembling and building organizations. Close by enrolment into these parts there is additionally a need to up skill those as of now in associations. This weight originates from a more prominent turnover of staff with more seasoned – and profoundly experienced – specialists resigning.

Remotely, producing is contending with the move towards a more information and administration based economy. On the off chance that that wasn't sufficient, there is additionally rivalry for UK talented specialists from the US and developing economies.

In 2015, Festo's own particular research demonstrated that makers have been confronting an expanded lack of gifted work, particularly talented architects, for the past three years. This is keeping down the improvement of our assembling area. On the off chance that the UK is to wind up a main thrust for Industry 4.0, each producer needs to get associated with aptitudes advancement, comprehend the abilities required in the manufacturing plants of tomorrow, and put resources into the improvement of these aptitudes today.

Up skilling machine administrators to analyze blames and repair machines at source should imply that profitability will increment. It appears like a straightforward condition. In any case, specialized preparing isn't the basic answer. The UK has been looking into abilities holes in modern culture since 1867 and the discoveries have reliably featured a similar issue.

There's presumably that innovation moves quickly, however specialized preparing can keep running close by new machines. So there must be a square in another area. Just as representatives must be re-skilled, leaders should create solid capacities and characteristics to handle changes to the condition that Industry 4.0 will bring. This incorporates new rivalry in the market, with problematic innovation prompting youthful and inventive organizations rapidly picking up advertise traction. Leaders should spot and respond rapidly to new rivalry not too far off. Fruitful leaders will likewise need to move towards scattering administration and administrative obligations all through a system. Authority 4.0 requirements to free up the basic leadership process leaders can rapidly grasp new openings.

Therefore the two areas to work are- (a) the upskilling of employees from every sector to new technological innovations (b) Making leaders out of the workforce

Stage 3

Effectively managing and processing all applications, adjudication and appeals of Work Permits, Caymanian Status and Permanent Residence

The Department enforces the country’s employment policies, which places priority on the hiring of Caymanians. It also facilitates the process of issuing work permits to foreign workers who have been hired for employment in the Cayman Islands to meet demand in instances where no Caymanians are available to fill the positions. In managing the labour market, the Department also works closely with a number of Boards to protect the interests and participation of Caymanians in local business enterprises.

It also carries out administrative processing of applications for persons seeking permanent residence, Caymanian status, or the right to work in the Cayman Islands. The Department is committed to strong quality control and providing up to date and accurate communications to both internal and external stakeholders.

The Department also handles all FOI requests and provides hands on accurate information and superior customer service to call in and walk in customers. The Department ensures all sections work closely through improved information system technologies and enhanced business processes. The Department will be the driver of the National Jobs Clearing House, Employer Accreditation and other systems.

There has never been a superior time for organizations of all sizes to get vital with their hiring. The instruments expected to pull in the correct hopefuls and get from application to contract are both more reasonable and more viable than any time in recent memory. What the best of them convey is a hiring procedure that works. Advances in hiring programming have altered selecting work process administration. Experts have examined the significance of mechanization in Recruiting with an Applicant Tracking System and the productivity it offers goes from work promotion to work offer in the hiring procedure (Kusluvan et al 2010). Process isn't a word to light fires in the creative ability yet there's nothing blunter than attempting to work without one. Having a progression of institutionalized strides in the hiring procedure that have been picked on the grounds that they expand the probability of a decent result makes sense. The best approach to think about the means of the selecting procedure acquires from deals universality, with a hiring pipeline (Shah et al 2014). The hiring process is a pipe, A proficient sifting procedure will spare time. The enlisting pipeline empowers hiring groups to cooperate gathering all remarks, criticism, notes, web based life profiles or task comes about in agreement. It expels the requirement for interminable email strings and maintains a strategic distance from the likelihood of losing indispensable criticism or discussions with candidates. The efficiency offered by an applicant tracking system go up against included significance while hiring at scale or over various areas, similar to the case for multinationals or the expanding number of SMBs working crosswise over borders. This can turn out to be much more vital with regards to surveying and enhancing your enrolment endeavours. It can convey clearer knowledge into the enlistment brings about every region, and also produce reports in view of areas and divisions to gauge relative advance on hiring.

References

Boella, M. and Goss-Turner, S., 2013. Human resource management in the hospitality industry: A guide to best practice. Routledge.

Brida, J.G. and Pulina, M., 2010. A literature review on the tourism-led-growth hypothesis.

Echternacht, A.C., Burton, F.J. and Blumenthal, J.M., 2011. The amphibians and reptiles of the Cayman Islands: Conservation issues in the face of invasions. Conservation of Caribbean Island Herpetofaunas, 1, pp.129-147.

Fichtner, J., 2016. The anatomy of the Cayman Islands offshore financial center: Anglo-America, Japan, and the role of hedge funds. Review of International Political Economy, 23(6), pp.1034-1063.

Gayle, D.J. and Goodrich, J.N., 2014. Tourism Marketing and Management in the Caribbean (RLE Marketing). Routledge.

Kusluvan, S., Kusluvan, Z., Ilhan, I. and Buyruk, L., 2010. The human dimension: A review of human resources management issues in the tourism and hospitality industry. Cornell Hospitality Quarterly, 51(2), pp.171-214.

Novelo-Casanova, D.A. and Suárez, G., 2010. Natural and man-made hazards in the Cayman Islands. Natural hazards, 55(2), pp.441-466.

Pulwarty, R.S., Nurse, L.A. and Trotz, U.O., 2010. Caribbean islands in a changing climate. Environment, 52(6), pp.16-27.

Shah, B.R., Narayan, M., Seth, A. and Schulman, K.A., 2014. Health City Cayman Islands and the globalization of health services delivery. American heart journal, 167(5), pp.770-774.