NASSAU, BAHAMAS — In an effort to combat rising inflation, Baha Mar will roll out a ‘cost of living adjustment’ and merit-based salary increase to all eligible employees next month.
I recognize the sacrifice and commitment that you, our associates, have made to the world-class experience you deliver to our guests, each and every day. It gives me great pleasure to announce that all eligible associates shall receive some level of pay increase this year — GRAEME DAVIS
In a letter to associates, Baha Mar President Graeme Davis said all eligible line staff associates will receive a three percent cost of living adjustment.
Other line staff and professional associates shall be eligible to receive a performance-based merit increase of up to five percent.
The cost of living adjustment and merit-based performance is expected to take effect during the pay period May 8, 2022, and would be reflected in associates’ checks on May 12.
Criteria for eligibility were not included in the letter.
However, Davis said human resources will communicate this to all associates.
Baha Mar celebrated its fifth anniversary yesterday.
The president said with its 5,000 associates. three world-class hotel brands, casino and water park, Baha Mar has much to celebrate.
He said the success of the hotel and the luxury experience it delivers is in large part due to its associates.
“I recognize the sacrifice and commitment that you, our associates, have made to the world-class experience you deliver to our guests, each and every day,” Davis wrote.
“It gives me great pleasure to announce that all eligible associates shall receive some level of pay increase this year.”
He thanked employees for their unwavering commitment and acknowledged the challenges and sacrifices employees have made during the coronavirus pandemic.
“Over the past year, we have certainly come together to deliver a world-class experience that is second to none,” Davis wrote.
“We have endured the many obstacles that the COVID-19 pandemic posed and continue to live our core values each and every day.
“I am proud of your perseverance, your dedication and your commitment to Baha Mar’s success.
According to Davis, resort performance this year has been “strong” with record visitation returning to the Cable Beach resort.
He continued: “Thank you again for your unwavering commitment and for making Baha Mar your employer of choice.
“I look forward to lasting success in 2022 and beyond as we continue to deliver exceptional service to each of our guests.”
In its World Economic Outlook, the International Monetary Fund (IMF) projected that consumer prices will increase 7.3 percent this year — the highest annual percentage increase in inflation since the early 90s.
According to the report, the projected rate of inflation is expected to drop to 4.5 percent next year, but will continue to remain at elevated levels before leveling out in 2027 at 2.4 percent.
There have been calls for the government to deliver on its promise to increase the minimum wage and create a ‘livable wage’ as Bahamians feel the pinch of increased prices for fuel, food and other critical expenses.
Prime Minister Philip Brave Davis said this week that notwithstanding his administration’s efforts to counter high inflation rates that impact Bahamian consumers, including growing the economy and negotiating import cost reductions, the contributing factors are largely outside the government’s control.
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