Succession planning needed in business sector

Succession planning is needed across the business sector.

And in doing so, it will reduce instances of outsourcing employment.

It’s the view of Barbados Chamber of Commerce and Industry’s President James Clarke.

He was speaking during a question and answer segment at the presentation of the 2023 Economic Outlook Survey.

He added this process could start from the interview, as it is always less expensive to recruit from within as they are familiar with the business.

BCCI’s Chairman of the Economic Advisory Committee Christopher Sambrano agrees with Mr. Clarke.

However, he says in unique circumstances hiring outside is critical if competing internationally.

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