The skill set, qualifications and interest of jobseekers in Cayman is mismatched with the opportunities likely to be available as the island’s economy expands and diversifies, according to a new report on the islands’ labour market.
Emerging industries, including solar energy and tech, are expected to create hundreds of additional jobs in the next year.
But research shows little interest in those fields from Caymanians looking for work.
The Cayman Islands Labour Market Assessment warns this could lead to an increased reliance on work-permit holders, even as new jobs are created.
It recommends a massive effort between government and educational institutions to bridge this gap and generate interest and opportunity for Caymanians in more varied fields.
“There is a misalignment between the demand and supply side with jobs of interest not aligned to future jobs in demand except in the case of accounts and finance,” the report concludes.
The survey – carried out by Market Research Services Limited – involved 123 employers representing the major sectors of Cayman’s economy and 435 Cayman nationals who are either unemployed or under employed.
The assessment, a partnership between WORC, the Chamber of Commerce and the University College of the Cayman Islands, was linked to the Resilience, Sustainable Energy and Marine Biodiversity program for the Overseas Territories, a post-COVID resilience initiative from the European Union.
The greatest discrepancy between the desires and qualifications of jobseekers and the demands of businesses appears to be in the tech sector.
The survey showed almost no interest in jobs in software and web development, software engineering or IT consultancy, which collectively amount to a quarter of the positions expected to be in high demand in the coming years.
There is also a mismatch in the construction industry where demand for skilled craftsman, such as carpenters and masons, far outstrips interest from the job market. Only accountancy and customer service jobs attract the kind of interest that matches demand.
The firms surveyed indicated high confidence in the Cayman economy, with job growth likely in the coming year.
Over the next 12 months, a quarter of firms expect to add to their staff.
The tourism, energy and tech sectors appear to be the most likely to recruit in numbers, according to the report, which also includes snippets of comments from employers.
Businesses outline concerns
One hospitality boss quoted in the report highlights a lack of interest from Caymanians in the tourism sector, claiming they were compelled to hire a bartender from Jamaica.
“It’s a cultural thing, Caymanians are only interested in certain types of jobs,” they wrote.
A construction boss lamented, “Good staff such as carpenters that are trained finish carpenters are very hard to find here.”
There is also an identified skills gap in the sectors most likely to create jobs in the coming year, as well as in currently available positions.
A third of jobseekers surveyed highlighted lack of qualifications as the key barrier to employment. Lack of childcare or transportation were also key challenges unrelated to skills or experience.
Almost 90% of new opportunities are expected to be in skilled professions.
At least half of those opportunities are classed as ‘semi-skilled’ – meaning the training requirements are not as advanced.
That statistic suggests that, with the right policy initiatives, the gap could be bridged.
One potential growth area is in solar energy, where new jobs are anticipated across the skills spectrum.
“We’re seeing a big technology shift to renewable energy,” one employer wrote. “We need to shift our workers skill levels.”
The tech sector too is facing a shift in its skills base as Cayman expands to new niches and older technology becomes obsolete.
“We have to have training programs to help rescale and retool our workforce,” wrote one ICT professional.
Fears for current employment
While the report highlights growth in opportunity, there are significant fears that the changing economy and, in particular, advances in technology, will leave some currently employed people behind.
An increased reliance on work-permit holders in Cayman is expected if something is not done to better prepare the local workforce.
“Employers are already concerned about the unavailability of Cayman nationals for specific jobs, but should not expect any meaningful change in the immediate future without a concerted effort on the part of policy makers and key stakeholders to bridge the gap,” the report concludes.
“Without such efforts, the Cayman Islands can expect to see an increase in the reliance on non-nationals with work permits for required skill sets as firms anticipate business growth and greater diversity in the range of jobs that will be available.”
It recommends swift action to generate interest from Caymanian jobseekers in key growth professions, including hospitality, information and communications technology and renewable energy.
Further conversations with employers are needed, it states, to precisely define the type of skill sets and qualifications necessary for future opportunities and help educational institutions prepare.
Even with those efforts, it warns that the “extent of the dissonance” between job interest and job demand means any change will likely be gradual and take time to implement.
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