A fifth of Saudi Companies likely to fall under the Red Zone says Saudi Minister of Labour
The Ministry of Labour's recent efforts to tackle Saudi's high unemployment rate which has hit half a million poses a major threat to a large number of Saudi organizations, a fifth of which stands in the danger of being classified under the red zone.
According to the Minister of Labour one in five private companies operating in Saudi are a long way away from meeting the Saudization targets. The curb in renewing visas of red zone company employees' builds worry and fear as people panic about their job security. At the same time the companies in the premium and green zones will enjoy numerous incentives and benefits from September 10th for their efforts in implementing the Nitaqat program.
At this critical juncture companies are looking to hire qualified local workforce to ensure their compliance and move to the green zone. Developing a long term sustainable Saudization program within the organization is currently on top of the agenda of many companies.
The HR Congress, a Saudization focused event to be held in Dammam, Saudi Arabia from 19 - 22 November 2011 creates a platform to bring together leaders in the region and blue zone companies to reveal successful strategies to effectively implement the Nitaqat program. Joining the elite panel of speakers are Dr. Mohamed Moustafa Mahmoud, Advisor to the Minister of Labour and Vice President, Savola Group; Fouzie A. Bubshait, President of ASHRM & Director of Training & Technical support, Saudi Aramco; Hussain Abahussain, Managing Director of Aujan Industries; Dr. Tommy Weir, Executive Director of Center for Emerging Markets Leadership; Fahad Al Zahrani, Sr.Vice President, Mobily.
"The event will provide an opportunity to examine local best practices in the area of Saudization and a unique networking to share relevant experience of senior HR professional from local and regional major corporations" Dr. Mohamed Moustafa Mahmoud, Advisor to the Minister of Labour quoted.
The summit will bring together CEO's, President's, Vice President's, Managing Directors and HR Directors to educate the most efficient practices in achieving successful Saudization in the private sector and how to prepare the national workforce to meet the growing demands of the Saudi job market.
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