The Bahamas Telecommunications Company (BTC) has extended its voluntary separation program (VSEP) into 2020, continuing to work toward streamlining the company and aligning it for the rapidly changing telecoms industry, the company stated in a press statement sent to Guardian Business.
When asked about the continuing VSEP program, which BTC Chief Executive Officer Garfield Sinclair spoke about in July of last year, BTC’s statement explained that there is a specified time frame for employees to express their interest in separating from the company. BTC did not provide that deadline.
“To fast-track this transformation, we have extended our voluntary separation program and colleagues who are interested in taking advantage of this program will have a specified time frame within which to apply,” the statement read.
“BTC continues on its journey to foster a high-performance culture to ensure a sustainable organization for future generations. As the telecommunications industry rapidly evolves, we are transforming our operating model to ensure that we remain the provider of choice for the Bahamian people.
“As part of this transformation, we are in the process of better aligning the organization and making it more fit for purpose. We are committed to building an effective team that will deliver exceptional service to create moments that matter for our customers.”
Sinclair said in July that VSEPs are not to be feared and recounted examples of several former BTC employees who thrived from the packages they chose to accept.
He added that the VSEP process helps to draw out the best talent available in the company and is therefore necessary to improve the culture of a business.
“When you reinvigorate your business with colleagues who want to shine, you’re able to compete more effectively,” he said last year.
He further noted that VSEPs readjust the culture of a company and not simply staffing levels.
Sinclair added that BTC currently operates at an operational expense ratio of 52 cents to the dollar, which he said needs to be reduced in order for the company to continue to compete in the telecoms market. He added that the company hopes to get that figure down to 49 cents.