The Cayman Islands, although relatively smaller than other offshore jurisdictions, has definitely proven themselves on top of the game.

Our team at CML Offshore Recruitment has found ourselves excited about what the future has in store for Cayman, but first, let’s speak about what the island is currently up to.

What’s Happening in the Cayman Islands?

While other jurisdictions such as the United Kingdom stagger with disappointing job figures, this poses an important question; What is the outlook for the Cayman Islands? Super great, in our opinion. Cayman’s newly but high-ranked Cayman Enterprise City is now boasting 20 clients currently with plenty more in the pipeline, a $2 Billion hospital project and the continued expansion of locally loved Camana Bay.

A sign of economic growth can often be seen on the skyline. As building projects gather speed and gain financing, the vista has become dominated by cranes! This has definitely been the case here on Seven Mile Beach, with at least four residential projects taking shape. All of which seem to be gathering significant momentum as workers’ volumes increase.

Interestingly, money seems easy to come by for qualified individuals, and the banking industry seems almost too eager to compete for your business. We have spoken with several individuals who have secured fantastic mortgage rates recently. Undoubtedly, many will prosper from the potential strengthening of property values here on the island. It is also evident that the rental market is seeing less inventory available as fewer people are moving away and more people are arriving.

In other words, all industries in the Cayman Islands are thriving!

Increase in Businesses, Increase in Jobs?

Furthermore, with the previously mentioned major developments of the Cayman Enterprise City, and the Shetty Hospital, Cayman continues to diversify its labour market. However, will this create more opportunities for residents on the islands? We sure hope so, but the great news is that these new changes will welcome both existing and new business.

CML is uniquely positioned to witness firsthand how many jobs are being lost or added. The good news is that more jobs are being created than lost. Indeed, our teams have seen several placements over the last two months within the Financial Services (FS), IT, Legal and Administration sectors. Many candidates are attributed to new jobs rather than replacing turnover.

However, employers need to be mindful that with a competitive talent pool comes the need to stay ahead of the curve regarding compensation levels. CML keeps up-to-the-minute information on salary levels across the main industry sectors here in Cayman and other offshore sectors. Want to learn more? Let us know!

Misconceptions

There is a misconception that many applicants can fill every job because of the world economy. Here in the Cayman Islands, that is simply not true. For specialist positions, which many in IT and FS are, there are only a handful of candidates with the required skill level and ability, and virtually none are on the island as they are employed (and therefore unavailable). We are in a candidate-driven market for many of our positions which is why people are often surprised when they get an urgent call back from a very keen recruitment consultant!

The future is bright in the Cayman Islands! Indeed we have just taken on three new staff, including a promising young Caymanian and two experienced consultants. We would not be doing this if time demands and work volumes did not dictate it!

Let’s keep thriving! Are you looking for vacant job roles in the Cayman Islands, BVI or Bermuda? Please send us your CV, and let’s get you hired for your talent. Contact info@cml.ky to learn more about our recruitment or relocation process.