Should We Be Optimistic About 2017?

2017

First, I would like to wish you all a Happy New Year and I hope your dreams and aspirations are fulfilled in 2017.

I won’t sugar-coat it, 2016 has been without a doubt quite a tough year. Ask a common person in the street about the year, and chances are the answer will start with a deep sigh. Corporate leaders and entrepreneurs alike seem to be entering 2017 just like a

southpaw
A lot of us feel like this entering 2017

punch-drunk boxer would enter the championship round of a boxing match after being floored several times during the fight. Tired, beaten up, bruised and hopeful the round would turn their way by some lucky punch. In retrospect, the corporate community in the region has every reason to feel that way. Businesses have had to deal with challenges posed by a blend of regional and global economic and Geopolitical uncertainties. While people -or Human Capital as the HR community fondly likes to call them – were confronted with the resulting implications, such as slow creation of jobs, downsizing by some companies in the region, employers holding back salary increases and incentives, mergers, etc.

On a more encouraging note, 2016 has seen a number of growing trends in relation to the human capital practice in the gulf region that should provide reason to be optimistic of what the future holds (Yes, I confess I’m an idealist which makes me a sucker for any signs for optimism).

For example, governments as well as private sector institutions are showing strong interest in ‘enabling entrepreneurship’ and ‘innovation’ as a necessity rather than “things that are nice to show support for” or “give lip service” to. Local university graduates and job-seekers are also demonstrating eagerness to not only become entrepreneurs, but also innovate.

A growing number of employees I have been speaking to who are un-engaged or

leap-of-faith
Many professionals in the corporate world have either taken the leap of faith or considering to

demotivated in their workplace are no longer keen to push on with their companies and instead are increasingly taking the ‘leap of faith’ and start their own ventures (also known as the refugee-effect in academic circles).

The public sector in the gulf which had earned a notorious reputation of –in a lot of instances- hiring local and expatriate “dead weight” (Yes, I said it) has become more vigilant and selective about their hiring process as well as who they keep. In fact, the public sectors in countries such as the UAE have been making significant strides in becoming as competitive, lean and innovative as the private sector and at times even more so.

There is an increasing interest in adopting technology across the human resource ecosystem and at every stage of the Human Resource journey in organisations.

Last but not least, the education sector and industry are having a more serious

sheraa
There is an amazing buzz whenever you visit the Sheraa Entrepreneurship Centre in Sharjah

conversation with each other with the aim of bridging the gap between both sectors. One example of a succesful platform doing this is the Sheraa Entrepreneurship Centre which was launched in 2016 in Sharjah. (see pic inset)

What have you seen as emerging trends in the employment and Human Capital markets in 2016 which can potentially have a positive impact going forward in 2017? I would be interested in hearing your thoughts.

Note: The following link is an interview I had with Abu Dhabi TV last week (It’s in Arabic), where I discuss some of the thoughts and Ideas I shared during the ‘Nationals in the GCC Private Sector Forum’ in Dubai. I had shed light during the forum on some of the interesting programs and solutions I offer employers to help with some of the challenges they face when adopting Nationalisation in their companies. In brief they are:

  • How we help employers identify and design their own unique Nationalisation Strategy that is long term, inclusive and has buy-in across all levels. Also how we use this to enable the Nationalisation Manager to deliver on their goals.
  • What is the ‘bottle neck’ standing in front of implementing nationalisation in organisations, and how are we addressing it (hint: It’s the Manager)
  • How are we looking to answer the age-old popular question posed by many fresh graduates: “How can I be experienced as required by employers, if NO one gives me a chance to gain experience?”

Feel free to drop me a line on LinkedIn or reach out to me on my email: Talib@talibbinhashim.com if you are keen on learning more about what we do.

My interview segment starts at the 32nd minute of the video, so press forward to view it:  Click on this link

 

Part 3: Three Ingredients for growing a successful business in the UAE

colored pencils

 

Success Ingredient # 2:  Stay Relevant by aligning your organisation with the market needs and the underlying Culture of the UAE: 

I recall once catching up for coffee with a successful serial entrepreneur and business coach who had founded and sold around half a dozen entrepreneurial ventures for impressive amounts of money.  Impressed by what he had achieved, I was curious to understand what really his secret to success was and so I asked him.  ‘Alignment’ he answered confidently.  He went on to elaborate to me his answer and explained that to him he always believed that a sustainable business strategy can only be realized through aligning a) What will your customers buy; with b) What are you producing or offering.

As obvious as this might sound, I can say that this simple strategy is often ignored by most business leaders and entrepreneurs who are too immersed and emotionally involved with their products and services.  I see it all too often, international companies who enter the market with their existing products and services with little or no research to validate the market need for what they aim to sell or promote in the country. I find it rather naïve to assume a simplistic and a rather condescending notion that “just because it works where we come from, it should work here in the UAE”.  Yet, many businesses set up in the country believing in the same notion.  As a result many of them fall victim to the ‘pipe dream’ of conquering the UAE market with little or no effort invested in understanding the market and adapting accordingly.

I often advise clients to look at aligning four components as part of their business strategy when entering the UAE market, these are: (1) Their products, services and business strategy (2) The market and consumer needs in the UAE (3) The employees their hire in the UAE and their human capital practices (4) Finally, The underlying values, beliefs and interests –otherwise known as culture- of their customer segment in the UAE in addition to the overall government’s direction and strategy.  The government’s strategy –usually announced or found with the various government departments- provides a highly useful indication to where the country is headed to, what sectors are targeted to play a key role in the country’s present and future, the existing opportunities as well as possibly a gist of government legislation to come.


Wasta, taming the elephant in the room to work for you

elephant-in-the-room

Most of the people who have settled in the region are familiar with the term ‘Wasta’.  Wasta literally translates to; a mean or instrument used to help an individual or a group reach a desired position, or attain something.  It can also mean to gain leverage or influence on an issue.  The ‘Wasta’ is most often an individual with the required connections or ability to influence a decision or decision maker.

So much has been said about the ‘Wasta’ phenomenon – privately, yet so little has been written about it.  The term has gained notoriety to some as it is usually associated with the attainment of unfair advantage to win something regardless of the merit or qualification of the party attaining the advantage.

Obviously, not anyone can have or become a ‘Wasta’.  The prerequisites one would need to have in order to qualify for a ‘Wasta’ are; be known as an individual who is trustworthy, reliable, has strong knowledge of the local community’s culture and be well-connected to people of influence.  With this in mind, ‘Wasta’ can be viewed in a more positive light by its advocates.  Its personal nature makes it a less-risky and ideal means of influence in a tight-knit and -to a good degree- reserved community.  A community that puts high regard on personal relationships and trust when taking decisions. These decisions can range from the selection of a spouse, decisions on employment and senior level appointments all the way to business relations.

Businesses can tap in to the power of ‘Wasta’ to help identify opportunities, promote their strengths and services directly to the right people and at the same time build valuable long term relationships.  One way to do this is to seek the right partner locally who can play the role of engaging opportunities and applying influence where needed on your behalf.

Another way that has become increasingly common and adopted mainly by a number of forward thinking multinationals is hiring and empowering the right local talent in strategic roles within the organisation.  Banks for example –local and multinational-have applied this strategy with much success.  This has helped banks demonstrate how committed they are to the local community and the government, build strong and long term relationships with local clients and even roll out products and services that are catered to the needs of their customers making them more relevant and versatile to change.

Rethinking Emiratisation Part 2: Innovation meets Emiratisation 

 

In part 1 of my post titled ‘Rethinking Emiratisation’, I called for the review and rethinking of not only the long-standing concept of ‘Emiratisation’ but also the approach towards it.