Business & Money | Tuesday 6 September, 2016 4:19 am |

Dubai based QnA International is pleased to announce National Bonds as the lead sponsor of the two-day Summit. The Summit, now in its fourth year, is the only GCC- focused event which gathers leading HR leaders from the government, public sector and government owned private sector companies. This year’s Summit will seek to analyse the challenges and formulate breakthroughs for the future development of human capital management (HCM) across the GCC. 

 

Of the many topics up for discussion at the Summit, paving the way forward in the current economic environment is likely to take precedence. In addition to the low oil prices and its expected volatility into 2017, the GCC region will also face challenges emerging from Brexit, geopolitical situations, and the general slow global growth. Mr. Mohammed Qasim Al Ali, CEO, National Bonds, stated that “While GCC countries have correctly refocused on developing the non-oil sectors and on economic diversification, the revenue benefits of these policies will not be seen overnight and the time for serious introspection and action had arrived.” 

As such, Mr. Al Ali suggests the “Priority in the short-term should be the allocation of the right investments in the right markets in the right sectors, with preference for low-risk investments. Long-term goals, however, need to engineer a corporate culture which is people-based rather than profits-based.” 

Citing the Government of Dubai’s Plan 2021, which recognizes happiness and personal well-being of the individual as paramount benchmarks for good governance, Mr. Al Ali said “The transition to a more ethical enterprise model needs to begin now. Otherwise, the world will continue to be at the mercy of booms and busts that will spiral out of control, and create new financial crises that our children will have to pay for.”

Developing human capital at the workforce is expected to be another hot topic at the Summit. “Employee-friendly work policies which motivate and assist the achievement of aspirations, goals, and personal development, has been shown to have a positive effect on the organisation. As the workforce demographic changes to include millennials and the aging population, processes for employee learning, retention, and motivation need to be analysed and developed. The 4th annual GOV HR Summit, now recognized as the most influential and largest summit of its kind in the region will provide opportunities and access to professionals to gain and contribute knowledge in these changing times,’’ said Ackash Jain, Director, QnA International. 

 

Sharing the same sentiments, Mr. Al Ali said, “At National Bonds, we believe that people are the most important asset of an organisation and pivotal to the success of an enterprise. As an employer, we encourage regular interaction between management and employees through social activities, discussions and exchange of ideas.” 

Mr. Al Ali continued, “More businesses need to implement measures that empower people and make them happier, because only highly motivated people can create lasting value. Areas to look at are life-work balance, employee education, healthcare, and a creative and rewarding ambiance. Case studies of highly successful organisations show that employee happiness leads to greater motivation and productivity, which in turn, make for better company returns and more stable economies.”

An issue that confounds many organisations in the GCC is the shortage of skills. Mr. Al Ali says, “To stay truly relevant business leaders will need to identify skills required over the next few years and ensure they keep pace with the dynamic employment landscape.” Mr. Al Ali singled out social media literacy, social intelligence, transdisciplinarity—the ability to understand concepts across multiple disciplines, computational thinking--understanding of data-based reasoning, and virtual collaboration as some of the crucial skills to the development of human capital. Speaking on the motivations to sponsor and participate at the Summit, Mr. Al Ali, said “The GOV HR Summit offers an excellent platform and a unique opportunity to share our own experiences and gain insights on the future of the workforce in the GCC. Moreover, empowered and highly motivated people are needed for the service of the country. This is the key message we wish to convey at the Summit.”

The 4th annual GOV HR promises to deliver insightful discussions and a frank exchange of ideas on topics ranging from employee motivation, to knowledge management. The Summit will be held from 25-27 October 2016, at the Emirates Palace Hotel, Abu Dhabi, UAE.