The impact of employment trends in Bermuda on the local and international business markets was the focus for a lively panel debate at the Bermuda Employers' Council (BEC) Annual General Meeting at the Fairmont Hamilton Princess hotel yesterday.

The panel, consisting of John Harvey, CEO of the Bermuda Hotel Association, Alex deCouto, president of the Construction Association of Bermuda, Venetta Symonds, deputy CEO of the Bermuda Hospital Board, Charles Gosling, managing director of Gosling's, Phil Butterfield, CEO of the Bank of Bermuda, and George Hutchings, chief operating officer of Oil Casualty Insurance Ltd., discussed the issues affecting the various industries.

They went on to take questions from the floor, ranging from attracting and retaining Bermudians in the hotel sector, work term limits at the Bank of Bermuda to outsourcing jobs from Bermuda, guest workers in the construction industry and even the challenges of maintaining intellectual capital in international business.

The meeting started with Graham Redford, president of the BEC, talking about the issues the BEC had been involved in such as the on-going implementation of the term limit policy, work permit processing times, the Draft Workplace Equity Act and proposed legislative amendments to the Trade Union Act of 1965, the Human Rights Act and the Workmen's Compensation Act.

He also spoke about the BEC's introduction of a comprehensive review of Bermuda's workforce entitled 'The Shift: An Examination of Employment Trends in Bermuda', the Island's first complete statistical analysis and review of the labour market from an historical, current and projected basis and the introduction of the WorkReady Programme, a curriculum-based initiative to help young Bermudian students be fully prepared to enter the workforce.

But Mr. Redford also talked of the hard economic realities that the Island faced in the future.

"As we approach 2009, I believe it is important for all of Bermuda to recognise and understand that the drivers of our economy are under threat," he said.

"Changes in US and European legislation, increased global competition, the landmark change in the US Presidency, and the on-going economic slowdown will all change the way we currently do business.

"What does this mean for Bermuda and what will these changes be? Whilst it may be impossible to list all of the potential outcomes, there is a growing realisation among employers that previously expected and accepted norms in the way we do business may need to change.

"Increasing costs will challenge business owners and operators to review their business models and operational methods in order to ensure their economic and social sustainability.

"We may work in Bermuda but we compete globally, and global best practices, work ethics and productivity standards must be our standard."

Each member of the panel then gave a brief snapshot of what is happening with employment in their respective industries, from hospitality, construction and hospitals to retail, banking and finance and international business sectors.