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| EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2018/2019
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HR Consultancies
The Bank, determined to stay the course and work towards achieving its strategic objective of enhancing organisational effectiveness,
undertook the task of developing a modern HR Strategy. Consultancy firm, VF Inc of the Commonwealth of Dominica led by principal
consultant, Dr Valda Henry, partnered with the ECCB to this end. During the year, VF Inc continued to work with the Bank to review its
HR policies, procedures, performance management, and its training, development and succession plans. A compensation survey and gap
analysis were undertaken.
Policy Enhancement and Compliance
The HR consultant’s review of HR policies and the recommendations from audit findings and general industry best practice alignment,
resulted in the decision to formulate new policies and improve existing ones to better enhance the operational framework of the
department.
Compensation and Benefits Management
The HR consultant reviewed the ECCB’s compensation and benefits package to assess and determine whether the remunerations the
Bank offered were in keeping with best practices. The HR consultant undertook surveys and research which ascertained that the Bank’s
remuneration packages were generally competitive.
The triennial practice of the review of compensation packages resulted in certain recommendations, which the Board of Director approved.
The adjustments in compensation would be effective 1 April 2019.
Utilise technology to inform data-driven decision making
Meetings Management Solution
The Bank commenced implementing a paperless boardroom meetings management solution to facilitate the following objectives:
1. Provide a platform for a holistic approach for the coordination and management of the Bank’s meetings; and
2. An enhanced protection protocol for the transmission of documents with minimized risk to the Bank, by ensuring the security of
confidential documents.
The meetings management solution will be used to enhance the communication and information sharing for the Bank’s statutory meetings.
These stakeholders will be able to collaborate on papers and conduct meetings via a central platform with mobile access.
ORGANISATIONAL EFFECTIVENESS
The Bank, determined
to stay the course and
work towards achieving
its strategic objective of
enhancing organisational
effectiveness, undertook the
task of developing a modern
HR Strategy.
“
”