National Tripartite Council’s white paper urges productivity legislation
The National Tripartite Council has developed a white paper designed to move the government to produce productivity legislation.
The white paper describes the nation’s current state of productivity and paints a grim picture of a workforce that is inadequately trained.
“In the past four years, The Bahamas has experienced zero economic growth, which is attributed to poor productivity of the workforce,” the paper notes.
“Furthermore, the economic attractiveness of the country has declined over the years and this decline is as a result of woes in the private sector concerning an inadequately trained workforce.
“Hence, there is a dire need to establish strategies to improve the quality of the workforce in the country. The surest way to do this is to ensure that the legal framework in The Bahamas promotes the development of a highly skilled workforce. Therefore, this white paper examines how productivity legislation can solve the current problems in the labor market in The Bahamas.”
According to the white paper, the legislation would improve the quality of life for workers and consumers; improve the growth of the private sector; improve sustainability in the production of goods and services; promote economic growth; improve the delivery of government services; and foster innovation and creativity of the workforce.
The paper also outlines possible disadvantages of enacting the legislation, including a possible increase in the cost of doing business due to a better trained workforce and the high cost of implementing the legislation.
“Thirty-two percent of companies in The Bahamas are concerned about an inadequately trained workforce, compared to the regional average which is 25 percent and this worry brings to reality the devastating effects of poor productivity on the private sector,” the report points out.
“Additionally, the poor productivity has caused The Bahamas to underperform its rival economies with a productivity level, employment rate and a GDP growth rate that is 50 percent below the nations of a comparable size. An IDB report classifies The Bahamas as the country with the lowest quartile in annual World Bank rankings, and this is true to a great extent, considering that the country has experienced zero percent economic growth in the last four years.”
Education: Florida International University, BS in Journalism
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