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Contents Message

From the CEO - page 3

News

Chairman’s Club Forum: Scotia, GasPro win service awards - page 4 Highlights from the Mentorship Dinner with William Mahfood - page 6 New Members Inducted in May - page 7

Special Feature

Carib Cement: Building Jamaica since 1952 - page 9 Introducing diGJamaica.com - page 10

Member Focus

Dynamic Packaging, Dynamic Serivce - page 12

upcoming events

Chilean Innovator to Head Annual Economic Forum - page 14

EconomicProgramme Oversight Committee (EPOC) Update on IMF Programme from EPOC - page 15


Earlier this month the nation witnessed the J$ cross over J$100 to US$1. Being that this was such a crucial psychological benchmark, we have as a result seen business confidence fall and the public express concern that the Jamaican dollar’s rapid devaluation is a sign that the country’s current economic programme under the IMF is already in jeopardy. However, here at the PSOJ we disagree with this assessment. We are in full support of the general objectives of the programme, and the reforms and timelines which must be accomplished to achieve the expected benefits. Now more than any other time in Jamaica’s history, we do not have any other choice but to ensure that we achieve through the programme robust economic growth and fiscal sustainability. If we fail to do so, it will be a significant setback for Jamaica. PSOJ President Chris Zacca, in commenting on this issue has stated: “I urge the public and all other stakeholders, to join with the PSOJ in supporting the implementation of the programme, and to pay careful attention to the workings and communication of the Economic Programme Oversight Committee (EPOC), which is a critical ingredient in the programme.” “Our understanding from the non-governmental members of EPOC is that we are currently on track to meet all the June targets under the IMF programme, and we will continue to carefully monitor the progress being made towards all financial targets and structural benchmarks under the programme on an ongoing basis,” Zacca said. At the same time however, we have reminded the government that careful consideration must be given before implementation of any part of the programme, ensuring that all stakeholders are consulted on a proactive basis, in order to avoid any negative repercussions. The PSOJ will be carefully monitoring implementation of the various parts of the programme and will be expecting regular updates from the EPOC, which will be placed on our website and communicated to you our members. Our first priority is and has always been our members, so please feel free to reach out to me should you have any questions or concerns about the programme. Dennnis Chung CEO

Message from the

CEO


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news

Chairman’s Club Forum

Scotia, GasPro Win Service Awards At the bi-monthly staging of the PSOJ’s Chairman’s Club Forum, held on Tuesday, May 28, 2013, Bank of Nova Scotia and GasPro were both awarded 2013 Private Sector Service Excellence Awards. Scotia for the large companies category and GasPro for the medium sized category. This was the second annual staging of the awards programme, a joint effort between the PSOJ and the Jamaica Customer Service Association (JASCA). JASCA is a member of the PSOJ and in a true show of the kind of partnerships that the PSOJ encourages they joined together to recognise from among the members of the PSOJ and JASCA the companies that are making superlative efforts in the area of customer service.

From L-R: Miss Tracey Ferrant - Customer Experience Officer, Mr. Hugh Wayne Powell - EVP Retail Banking & Non-Branch Sales, Miss Diana Deer -  Manager Customer Experience and Christopher Zacca, President of the PSOJ, display the Scotiabank’s award for service excellence.

Scotiabank wins the large companies category Scotiabank’s Director of Customer Experience, Rosemarie Voordouw gives some insight into how they copped this top prize. For all the employees at Scotiabank training begins during the orientation process. Each employee, regardless of their department, attends a customer service training session held at the Corporate Learning Centre. This is a one-day training which ensures that all employees are prepared in the event that they need to interact with a customer. The employees that have to interact directly with customers are required to participate in an annual one-day training on maintaining a good customer experience. Managers are also required to attend yearly training seminars that relate directly to their functions. In some instances, individuals and teams do training in areas that are specific to their needs at the time. When it comes to having won the award Rosemarie said “Scotiabank is honoured to have won this award, especially given the other two finalists, Digicel and Sagicor are also very strong on customer service and we congratulate them on their position in the top three. I think our win may be the result of a combination of our comprehensive service management structure, our customer feedback results and the personal experience of the judges in their mystery shopping, which I’m told was excellent.”


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Gas Pro representatives Darnis Kerr and Rohan Ambersley, accept the award for service excellence in the medium companies category, from Donnetta Russell, President of the Jamaica Customer Service Association (JACSA).

GasPro, the customer service pros GasPro, the customer service winners for the medium sized companies takes this aspect of the business very seriously. Training in customer service is mandatory for all employees, from the management level, down to the newest employee. This is because customer service forms a part of their core objectives. Training is done both within the organisation as well as by a Certified Customer Service Representative from the Customer Service Academy. All new employees undergo training and a refresher course is done approximately every six months. For the staff on the frontline, psychometric analysis is done to determine their suitability for customer service, and in order to ensure that only the best are given that position. The strong relationship with their customers is what distinguishes GasPro from their competitors. That is all a part of their entrenched customer service culture. Another aspect of this culture is their receptiveness to feedback from customers, using this to improve their services. All this and more contributed to GasPro’s success in these awards.


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Mentorship Dinner with

William Mahfood

Managing Director of the Wisynco Group, William Mahfood, was this month’s host of the PSOJ’s monthly Mentorship Dinner. Mr. Mahfood shared with attendees WISYNCO’s transformation into a modern, efficient manufacturer and distributor of a wide range of products. Held at Spanish Court Hotel, the mentorship dinners are organised by the PSOJ’s Membership Committee and is seen as an opportunity for aspiring entrepreneurs to learn from those who have gone before them.


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Chris Zacca (centre) and Dennis Chung (second from right) with May’s new inductees.

PSOJ

New Members Inducted in May

Corporate Members:

1. The Young Entrepreneurs Association of Jamaica (YEA) 2. Rattray Patterson Rattray 3. Unique Media Designs Ltd. 4. Henlon Brown Capital

Companies to be Inducted: The Young Entrepreneurs Association of Jamaica (YEA)

The Young Entrepreneurs Association of Jamaica (YEA) was formed under the auspices of the Jamaica Employer’s Federation (JEF) in 2005 and is a volunteer-driven non-profit organization whose mandate is to support young people in business. YEA provides members with an opportunity to learn from each other’s experiences and take advantage of peer mentorship as they grow their businesses. The Association aims to be the ultimate community for young entrepreneurs across Jamaica to facilitate the success of entrepreneurial ideas through the provision of relevant training and education.


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Representative from the YEA.

Representative from the Unique Media Designs LTD.

Rattray Patterson Rattray

The firm of Rattray Patterson Rattray (RPR) has been in existence for thirty (30) years having been founded by the Hon. Carl Rattray O.J., The Most Hon. P.J. Patterson O.N. and the Hon. Alfred Rattray O.J. Rattray Patterson Rattray is the fifth largest Law Firm in the island with two (2) locations in Kingston and Montego Bay and represents a significant portfolio of corporate entities in Jamaica and overseas in all the major sectors of commercial activity.

Unique Media Designs Ltd.

Unique Media Designs Limited is a web development and graphic company, based in Kingston Jamaica with over nine (9) years of active involvement in the graphic and web development 足field. They offer complete web development, graphic design and printing services, catering to business enterprises such as: entertainment, tourism, consumer electronics, cable

Representative from Rattray Patterson Rattray

Representative from the Henlon Brown Captial

industry, and industrial equipment. Unique Media focuses on delivering expert solutions for small, medium and large projects, all with a fresh look and cutting edge technology.

Henlon Brown Capital

Henlon Brown Capital is a registered company in Jamaica that has two operations under its portfolio - HBC Finance and HBC Stamps. Henlon Brown Capital offers low cost financing to Jamaicans, provide exceptional business solutions and execute attractive solutions for their partners, thereby enabling them to achieve wealth and financial independence. HB Capital aims to develop the capital of their clients and shareholders by serving the personal and business needs of each.


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Special Feature

Left, Ricardo Hemmings utilizes the X-Ray Fluorescence Analyzer machine while Ingrid McKenzie monitors the results.

The Quality Department

Carib Cement:

Building Jamaica since 1952

Carib Cement has literally built Jamaica. Since 1952, the company has been providing high quality cement using only Jamaican raw materials. Another major milestone for them has been the recent ISO/IEC 17025:2005 accreditation. This makes them the first company in Jamaica to have its in-house laboratory internationally accredited. A member of the PSOJ for several years, Carib Cement is a Jamaican institution. The rock solid foundation of the company has contributed to their success over the years. Jamaica Gypsum and Quarries Limited (JGQ) is a subsidiary company of Carib Cement which provides the Company with the gypsum needed for cement manufacturing. The company is located at Rockfort, along the Kingston Harbour, and they export gypsum and cement from their nearby ports. Continuous improvement is a major part of Carib Cement’s core values and gaining internationally recognised accreditation falls under that overarching goal. The accreditation looks at the competency of the laboratories that are doing testing. The cement produced by Carib Cement undergoes stringent testing to ensure that it consistently meets international standards prior to export or sale. The process for getting accreditation involves a number of steps and checks and balances. “The Company is

required to have a Policy statement and a Policy manual that communicates the Company’s policies and commitment for ensuring credible, accurate and valid test data in the lab”, said Public Relations Officer, Lystra Sharp. Procedures done in the lab must be accurately documented to show consistency of results, and records of these tests must be available to show this. Assessors from the Laboratory Accreditation Bureau (L-A-B) of Indiana, USA, then visit the site to look over the processes involved in the manufacturing of the cement to make sure that all international standard requirements are met. At the end of this, if all goes well then the registration certificate or license is granted. An annual on site surveillance audit of the lab procedures, test methods, records and test work is required to maintain accreditation. Accreditation brings nothing but good to Carib Cement. Their product will only improve going forward and it opens up wider access to international markets. Not only does Carib Cement benefit but so do the local consumers of the product and it sets a good example for other local companies looking to improve their product or seek accreditation.


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Site features Having such a wealth of information at your fingertips can be a bit daunting, but diGJamaica. com utilises a number of different formats to keep things interesting, including text, photos, databases, static and motion charts, and slideshows. In addition to the data pages and IMF Special report, users can access information via these sections:

Introducing

diGJamaica.com Jamaica marked her 50th anniversary of independence last August amidst colourful, lively celebrations; our joy heightened by the ‘golden’ accomplishments of our athletes at the London Olympics. In the midst of these Independence celebrations, “the Grand Lady of North Street”, as The Gleaner Company is known, launched its latest digital offering, diGJamaica.com, as a special birthday gift to the people of Jamaica. diGJamaica.com, (which stands for digital information from The Gleaner), is the most comprehensive collection of online information about Jamaica accessible free of charge 24 hours per day, 7 days per week from your desktop computer, tablet or smartphone. The information is taken from the most trusted local sources, including The Gleaner’s 179-year-old archive and from publicly available government documents. Making data accessible In recent months, diGJamaica has become popular for its extensive data section, which presents a wide array of government data in the form of static and motion charts. Some of this data has been used to write informative and engaging news stories, helping to shed new light on important issues, such as the increase in Jamaica’s debt burden for the period January to September 2012, and the value of that increase in debt in layman’s terms. Last month saw the addition of an intriguing new sub-site, the IMF Special Report. This is the first and only online information portal about Jamaica’s relationship and interaction with the International Monetary Fund, providing valuable and current news, data, timelines and resources. The IMF staff representatives also noted that this site was the first of its kind to their knowledge. “We are hopeful that we will help to increase the public’s understanding of the agreement, the implications and expectations while encouraging a national dialogue,” said Christopher Barnes, Managing Director of The Gleaner Company Limited.

Blog: Where to go for what’s happening now! It has information collated from the daily news stories, current data and more, arranged according to themed days. Overview: For general information about Jamaica under headings such as Land, People + Culture, Government + Economy and Parish Profiles. Dashboard: Updated monthly, these are quick indicators on the economy, business, lifestyle, trade and industries. New diGs: Keeps users up to date with what’s new on the website. Directories: For contact information of government entities, civil society organisations, publicly traded companies and more, along with specific contact for persons and board information. Resources: For frequentlyrequested information like ‘how tos’, government resources, education resources and more. Our Past: For historical content such as This Day in Our Past, Historical Eras and Pieces of the Past. Events: The only comprehensive, filterable calendar of events of interest to Jamaicans happening locally and outside of Jamaica. Users can also submit their own events to share. Users can also Suggest diGs to help us add new content to the site.


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Member focus

Dynamic Packaging,

Dynamic Serivce

When it comes to packaging in Jamaica, Dynamic Packaging is the go to company. With a wide range of products to cater to almost any packaging needs. Having been around since 1982, the company has had years of experience in this industry. Dynamic Packaging started out catering to the packaging needs of KFC, and shortly after that, expanded to cater to others in the industry. Over the years, as they expanded their market, they took over the packaging industry, and is today seen as, “the number one provider for the packaging needs of the fast food industry,� says James Harvey, Business Manager.


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Founded by Tony Myers as a small packaging company, today they hire an average of 60 people full time and provide services to some of the biggest names in the Jamaican food and fast food sector. Pizza Hut, KFC, Tastee, Burger King, Mother’s, Island Grill, Honey Bun and Sugar and Spice to name a few. Outside of the food industry, Dynamic Packaging has conquered new territory in the stationery industry. They also plan to begin manufacturing hot and cold cups. With this addition the company is expected to increase revenues by 25 per cent. A member of the PSOJ for about 12 years, Dynamic Packaging decided to join because they felt that being a part of the organisation, their voice would be more likely to be heard by the government whenever issues arose. Whenever problems arise, as a group, the PSOJ looks at possible solutions and in that way change comes about. The PSOJ also provides strong representation and keeps its members informed of relevant information. According to Harvey, these are some of the benefits of being a part of the PSOJ.

A member of the PSOJ for about 12 years, Dynamic Packaging decided to join because they felt that being a part of the organisation, their voice would be more likely heard by the government whenever issues arose


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upcoming events

In light of an increased focus on the growth and impact of entrepreneurship in Jamaica, the Private Sector Organisation of Jamaica (PSOJ), in partnership with the JMMB Group, will stage its fifth Annual Economic Forum on Wednesday, July 17, 2013, at the Jamaica Pegasus Hotel.

Nicolas Shea, Entrepreneurship Advisor with the Chilean government

Chilean Innovator to Head Annual Economic Forum

Similar to previous years, the PSOJ Annual Economic Forum (AEF) will be centred on policies for growth through an exploration of the theme, ‘Economic Growth through Entrepreneurship’. Main Speaker and Chilean businessman, Nicholas Shea, will lead this discussion in speaking to entrepreneurship in his South American country and how the economy has been able to hurdle issues of development in that area. Mr. Shea, an Innovation and Entrepreneurship Advisor to the Chilean government, conceptualised ‘Start up Chile’, a 6-month start-up accelerator programme targeted to both global and local start-ups. The programme provides a number of selected early-stage start-ups with grant equity funding of US$40,000 and has essentially caused a culture shift in Chile by encouraging more start-ups, which is an essential element of sustained economic development. “This Forum comes at a very timely juncture, as the economy needs to see a significant rise in entrepreneurship in order for us to truly realise economic growth and development,” says PSOJ CEO Dennis Chung. “We implore our members and JMMB’s clients to attend the forum, because we’re confident that the information being presented will be of tremendous benefit to them,” he added. The PSOJ Annual Economic Forum (AEF) has over the years, provided an important opportunity for key decision makers in the private sector to analyse and discuss the Jamaican economy, the impact of business operations in Jamaica and in the wider global marketplace and the way forward for growth. Opinion leaders, policy makers and members of the business and academia communities are brought together to engage in a high level discussion of the issues with an aim to identifying strategies and measures which are practical and solution-oriented. The JMMB Group’s association with the AEF aligns closely with its position as a market leader in financial expertise and encouraging personal and business development. The breakfast styled Economic Forum is expected to have another fruitful outcome.


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Economic Programme Oversight Committee (EPOC) Indicators reviewed showed that the Qualitative Performance Criteria (QPC’s) were on-track to meet the June quarter targets of primary surplus, tax revenues and the overall public sector balance. Monetary targets for net international reserves and net domestic assets were also on-track. Regarding the Structural Benchmarks (SB’s) and other structural commitments; some twelve actions were executed on time. This aspect of the program is heavily reliant on legal drafting skills and the EPOC received a report on progress in securing three additional persons. The Ministry of Finance has confirmed that these resources will be sufficient to ensure meeting the mission critical legislative agenda of the IMF program. The EPOC will keep this issue on the agenda.

Update on imf Programme The EPOC met on Wednesday June 12, 2013 and received information on the performance of key indicators of the economy for the month of April 2013.

Presentations were also received on the status of the multilateral programs of the IDB, World Bank and the EU as well as the tax reform program, all of which are critical to engendering growth. An update on the sale of Clarendon Alumina Partners (CAP) was also received and will be tracked at the next meeting. The overall assessment of the EPOC was that the performance of the country in April, with respect to the information received on the IMF program, was very satisfactory. Against that background, the EPOC discussed the challenge of economic growth. It acknowledged that achieving the established QPC’s and SB’s are a necessary condition for economic stability from which we cannot relent. Ultimately however, it is meaningful and sustained growth we seek. This goes beyond achieving the QPC’s and the SB’s. It requires strong and determined efforts to spur broad based growth including the active encouragement of import substitution, the facilitation of expanded exports of goods and services and the removal of the bureaucracy that stifles or slows investments. As a consequence, the EPOC agreed to take a full report on “Doing Business in Jamaica” at its next meeting. The next meeting of the EPOC will be July 19, 2013. Issued by the non-public sector members of EPOC 14 June 2013


PSOJ eZine June 2013 Issue  

PSOJ The Private Eye eZine - June 2013 Issue

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