Experts call for more focus on employee appreciation at Leaders in Dubai Business Forum 2009

The two-day forum being held at the Dubai International Convention and Exhibition Centre under the patronage of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai, sets the stage for globally renowned experts in management and leadership to share their insights on the way forward for GCC economies and businesses.

Speakers on the opening day of the forum also stated that the prevailing global economic climate will force a positive change in working environments, with employees who uphold human values, define goals and recognise performance, standing to benefit in terms of employee retention and higher financial returns.

"Human rights and ethos apply to corporate world as much as they are relevant to the world at large. You and I are created to be part of a delicate network of interdependence - this applies to every community and team of which we are a part,"

Nobel laureate and rights campaigner Archbishop Desmond Tutu told the audience.

Chester Elton, management expert and best-selling author, cited the findings of his 10-year study of over 200,000 people across continents, and said: "Recognition is the accelerator of business performance and the chief driver of employee engagement. Almost 79% of the employees leaving a job are known to do so due to lack of appreciation. The average pay rise one gets out of shifting jobs is merely 3%"

Elton, co-author of the critically acclaimed research The Carrot Principle, added that there exists a major perception gap on appreciation within organisations, with the top management often less convinced on the results of such an approach.

Speakers at the session also stressed the need for upgrading management techniques to modern day challenges.

"Much of what we know now as management was laid out in the early years of this century. Today's management and managers need to adapt to the changing economic and social landscape," remarked Gary Hamel, the renowned strategist, ranked as the 'World's most influential business thinker' by the Wall Street Journal.

Nobel laureate and former Vice President of the United States Al Gore will address the concluding session of the Leaders in Dubai Business Forum on Tuesday, the 27th of October 2009. The final day's speakers also include David Plouffe, former Campaign Manager to US President Barrack Obama, Jack Perkowski, successful entrepreneur and author, Steve Farber, leadership strategist, and music conductor Benjamin Zander.

The Leaders in Dubai Business Forum is sponsored by Philips, Noor Islamic Bank, Noor Takaful, The Monarch Hotel, Saxo Bank, Dubai Bank, Dubai World Trade Centre, Canon, Cadillac, Al Arabiya and BBC World.