Monday, 3 November 2008

Human capital in the Middle East

 

   Ernst & Young's Middle East Human Capital Survey 2008 has found that the human capital function is gradually becoming a strategic partner to regional businesses.  55% of respondents (up from 35%!) indicated that HR is involved in strategy development and effective people management in their organisations.

This is good news given that greater economic growth in the Middle East means that it is becoming "even more explicit that an organisation’s people make all the difference. To maintain competitive advantage, businesses need to invest in people and adopt strategies, policies and practices oriented towards the development of human capital".

However, Middle East HR functions clearly still have some way to go to be real strategic partners:

  • Only 59% of respondents formally link performance development plans with performance assessments
  • Just 44% have a proper succession plan for creating an effective leadership pipeline
  • Only 27% use 360 degree feedback as a developmental tool.

 

If this applies to you, I'll be back in the UAE at the end of November, and hope to visit other countries in the Middle East next year.  So get in touch.

And for 350 degree feedback, see this post and link.