Human resource strategies need to significantly evolve to deal with global economic slowdown

In his keynote address to delegates at the Gulf Education and Training Exhibition (Getex) - Human Resource Development and Training 2009, the Middle East's only dedicated event for the sector, Dr. Kazim urged HR professionals to effectively redefine their strategies to overcome the challenges posed by the slowdown.

Dr. Kazim said:

"Three strategies are essential to this HR evolution - maintaining a healthy organization through effective performance management, implementing a well managed redundancy process to minimize disruption and prevent low employee morale, as well as managing a leaner budget and tackling all related issues it entails."

"While the economic crisis has adversely affected many companies the world over, there remains a silver lining to the crisis. The slowdown will positively impact the business models of some companies as it will lead to a decline in the cost of raw materials. Similarly, competition dynamics will improve as some emerging multinationals become cash-strapped and some global players retrench. Continued government spending on infrastructure and diversification will bolster domestic demand," he added.

Dr. Kazim was confident organizations in the Middle East and Africa (MEA) region are better suited than their Western counterparts to overcome the current global economic crisis.

He added, "Unfortunately, many companies believe that laying off employees, and thereby immediately reducing one source of their expenses, is the only solution to tackle economic crises. Employers must realize there are many problems linked to this course of action. More importantly, downsizing does not necessarily improve productivity but, without a doubt, lowers employee morale."

"The MEA region will remain one of the fastest growing in the world throughout the slowdown. As long as oil prices do not drastically fall below current levels, this region will be one of the most resilient," he stated.

Dubai Knowledge Village is the diamond sponsor of the Gulf Education and Training Exhibition (Getex) - Human Resource Development and Training 2009. The four-day event that runs until 18 April at the Dubai International Convention and Exhibition Centre has attracted thousands of professionals including HR and training managers.