Survey will map impact of international business
The rapid growth of Bermuda?s international business sector has prompted the main body that represents the group to launch a survey designed to pinpoint where the sector is heading and how growth and development will likely impact the Island?s social and physical environments.
Association of Bermuda International Companies (ABIC) chairman David Ezekiel said the web-based survey was being launched today with backing from the group?s 140 member companies, as well as the Chamber of Commerce and the Environment Ministry.
Hopes are that all employees of ABIC member firms will participate in the anonymous survey.
ABIC estimates that the employees of its member companies account for more than 90 percent of all of those employed in the Island?s international business sector. ABIC?s effort has been designed to be ?an exhaustive and detailed look at the positive and negative impacts of international business in Bermuda and to collect data which would allow Government and the private sector to plan for future growth in a manner which is sustainable in the current environment.?
The survey is made up of three sections; one to be completed by company CEOs, one by the HR department and a third by every employee.
The survey is set to close on October 15, with the ?raw data? being reviewed and an analysis of the results being revealed to stakeholders in mid-December.
It is not due to be made public until the new year.
The survey?s questioning of employees is designed to glean information and opinions on every area impacted by international business including housing, schooling, transport, use of local services, charitable contributions, salaries, taxes, rents, office space and more.
Questions on race and citizenship are also asked to give an idea of how many Bermudians ? both black and white ? are working in the sector and to what extent they are moving up the ranks. In addition, the information should give an idea of whether or not Bermudians are ?sufficiently incentivised? and reveal any disparity in pay between Bermudians and work permit holders.
From a sustainable development perspective, specific growth questions are being asked in the CEO questionnaire ? including current square footage of premises, and the expected rates of growth for both staff and square footage in one-year and five-years.
Mr. Ezekiel said it was thought that this survey was the most exhaustive of its kind, providing information to different stakeholders as they made decisions.
?Sound decision-making will help to ensure a healthy future for the industry and Bermuda as a whole,? he said.
Although the ABIC survey may be done on a periodic basis, it will not be an annual exercise, Mr. Ezekiel said.
He added however that some questions mirrored those asked for in a report carried out on the international business sector by Brian Archer in years past.
The survey?s confidential nature was said ?to ensure that we received full and honest answers to the questions in the survey?.
Special care has been taken to ensure that responses are confidential with two websites being set up, one where questions can be answered and a separate sign-in database so that participation can be tracked.
Although there is nothing to stop someone signing on to fill in survey questions more than once, the committee said they did not think this would be a problem.
No raw data will be released to participating companies.
Accounting and consulting firm PricewaterhouseCoopers has been retained to design the online survey form, and to analyse the material once collected.
A special committee to oversee the survey is being chaired by Peter Adwick, Richard Winchell from ABIC, Cathy Gosling from the Chamber and Brian Rowlinson, Permanent Secretary for the Environment Ministry.
Mr. Winchell said effective debate on growth issues for the Island depended on this information be collected. ?Unless we have the data, we are going to go in circles.?
The survey may be followed by a separate exercise to poll the opinions of the man-on-the street, in regards to Bermuda?s international business sector.
Mr. Ezekiel said whatever the facts may be, people will have different opinions and perception on issues facing the Island, and that these must be taken into account.
Mr. Winchell agreed that the opinions of both those inside and outside of the sector needed to be considered.
