Both Sides of The Coin: The Story of The Central Bank of Barbados 1972-2017

Epilogue 267 This volume has described the activities of the first generations of Barbadian central bankers. They nurtured the institution to maturity and brought it into the 21st century. Most independent observers would agree that the Bank has achieved virtually all of the goals for which it was founded. Moreover, it is safe to say that during the last 45 years or so the Bank has made an indelible imprint on the economic, financial, social and even political landscape of Barbados. The environment in which the Bank functions is not a static one and it must be prepared to cope with whatever challenges lie ahead. One of the Bank’s many strengths has been its staff, many of whom were with the institution for most of its existence. Now that we are in the second decade of the 21st century and their departure gathers momentum it is natural to wonder how a more foot-loose workforce will impact the institution’s operations. As time passes and memories of the early days fade, will there be the same passion in being associated with the Bank? And then there is the new information age. The Bank’s bread and butter is the processing and dissemination of information. During the last few years, it has been relying more and more on IT to drive its work. What are the implications of increasingly more sophisticated data-handling systems for the traditional way in which the Bank disseminates information and generally interacts with its publics? As the Bank tries to reorganise itself, this will most likely affect the size of its establishment, the required skills and how it does business. If this reorganisation calls for a more sophisticated workforce, it will require a new approach to compensation and benefits. How will a quasi-public sector EPILOGUE