Employers’ Consultative Association of Trinidad and Tobago (ECA) Message

February 26th, 2024


Keston Nancoo - Chairman
Keston Nancoo
Chairman
Ronald Ramlogan, Chief Executive Officer, ECA
Ronald Ramlogan
Chief Executive Officer

This year’s theme, ‘Shaping Our Future’ is indeed timely. 
The business ecosystem is experiencing unprecedented shifts and leaders are increasingly focused on anticipating potential challenges or predicting future trends within their respective industries.  Artificial intelligence, big data and other digital and cyber-physical technologies are set to usher in a new industrial revolution within Trinidad and Tobago and the wider Caribbean. With this future before us, and as technology adoption increases, serious conversations are needed on the jobs of the future and the skills that will be needed. 

In anticipating the future, we also need to be prepared for disruption and uncertainty. While businesses may have traditionally had to confront one type of risk, our growing interconnectedness means that disruptor events are no longer singular. Business leaders must now be able to adapt their operations and prepare their workforce for a variety of shocks be it economic, social, geopolitical, technological and health, among others. 

As such, any conversation on future growth and development must be hinged upon building a ‘Resilient Future’, shifting to a new paradigm whereby cultures of resilience are fostered, both at the national and organisational levels. 

In a recently concluded study on business resilience, the ECA found that global disruptions experienced at the height of the COVID-19 pandemic still remain a challenge for many micro, small and medium enterprises (MSMEs), in addition to other co-existing threats within the current business landscape such as utility challenges, climate and weather-related disruptions, cyber-attacks, and the persistent threats posed by crime and criminality. Unfortunately, many businesses still lack the tools to face these hazards and there is an urgent need to develop robust business resilience and continuity plans and strategies. 

At the ECA, we are of the belief that if we are to shape the future and develop a strong economy, we can no longer afford to operate in silos. Indeed, much work is now needed to develop a robust business resilience ecosystem.

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