The latest in the Strathlcyde Dialogues series to take place in the UAE was held at at the CERT/HCT campus on December 10, where the Strathclyde Business School's Abu Dhabi regional centre is located.
A number of business people, as well as the wider Abu Dhabi community, together with Strathclyde Business School alumni and current students attended the event, which was titled, ‘Redefining ‘capital’ in the 21st century: trends in human capital and talent management’.
The Dialogue panel was composed of a combination of experts in the field of human capital, representing business, policy and academia.
Mr David Robert, CEO, Great Place to Work Gulf, presented the case for human capital in the Gulf region, as an important focal point which will continue to play a central role in the future development of the region's economy. Additionally, he highlighted the needed alignment between human capital and labour policy and human capital practices. According to Mr Robert, although such an alignment is not always easy, there are nonetheless clear signs that companies are investing significantly in the exploration of human capital practices that benefit employees' professional development, the companies' bottom line, and the sustainability of the region's economy. Related market trends include giving HR a legitimate seat at the table when corporate strategy is being developed, increased transparency in how and why decisions get made within an organisation, a keener focus on CSR programmes, and the increased use of HR analytics and evidence-based decision making.
Ms Shaimaa Abdel Bar, Manager, The Nielsen Company, Public Sector Research, focused on the relationship between human capital and the knowledge-based economy. A knowledge economy, according to Ms Abdel Bar, has people at its core - their education and qualifications - as well as learning organisations; an enabled and capable Human Capital is an asset base for economic development and prosperity both in the public as well as the private sector, and lies in the heart of innovation, entrepreneurship and the research capacity of a knowledge economy. Well-qualified human capital, a sound education system and professional training are essential components for the transition to knowledge economy, which can benefit from a supporting legal framework and enforcement mechanisms.
Dr Ingo Forstenlechner, Associate Professor, United Arab Emirates University, highlighted the challenges of the implementation of the concept of human capital in the local context; Dr Forstenlechner identified several positive change enablers such as social contracts in the labour market, the nature and structure of professional identities, the balance between expatriate and local workforce, attitudes and perceptions towards employment, education and training, as well as policy options to address ‘structural employment’ issues in the UAE and the GCC in general.
The event concluded with open discussion between the panellists and the audience, and with networking between the event participants.
The Strathclyde Dialogues series is in its 3rd year currently; the Dialogues aim to bring together panels of experts who, by exchanging views and perspectives, promote the sharing of knowledge in various fields of contemporary interest globally, and with particular application to the UAE.
For more information about the Strathclyde Dialogue series, contact the Strathclyde academic in charge, katerina.nicolopoulou@strath.ac.uk.