HR crucial in battle for talent says BP
Dubai, June 2, 2008
The human resources sector has embarked on a global war for talent in its bid to attract and retain professionals especially to the oil and gas sector, which is predicted to witness a 10 to 15 percent “people deficit” by 2010.
Speaking at the third Regional GCC Nationalisation Summit 2008, held in Dubai, BP Regional Human Resources vice president, Middle East, South Asia and North Africa said that today’s knowledge-based world economies have shown human capital is the most important asset to any company.
“Both the Economist Intelligence Unit (EIU) and management consultancy firm McKinsey, have revealed in their widely respected business surveys that the first concern on CEO’s worry list in 2007 was to attract top talent, particularly in emerging markets”, said Mohammed.
“Identifying key senior HR executives is a major challenge. In the UAE, research has shown that finding a qualified HR Head was the second most difficult appointment after that of a general manager”, Mohammed added.
In addition to the scarcity of talent in the region, companies are also faced with a challenge of meeting certain localisation quotas set by GCC governments.
According to Mohammad, BP’s nationalisation target is on track. Last year, BP was recognised by Tanmia, the UAE’s National Human Resource Development and Employment Authority, for having the highest nationalisation rates among mid-sized private sector organisations at its Sharjah operation.
Moreover, BP won the prestigious Localisation Award from the GCC Council of Ministers of Labour and Social Affairs for the second consecutive year, for its operations in Sharjah, a remarkable achievement of nationalisation in UAE’s private sector.
“At BP, we operate as a local company. We understand that our business is not just about exploration and production, but about playing a role in helping to develop a country and its resources. We strongly believe in making a difference to the communities in which we operate and being a force for good through the creation of job opportunities”, said Mohammed.
BP is not only making strides toward developing UAE nationals, but is witnessing localisation success at all its operations in the region. By the end of 2008, BP expects at least 50% of BP’s workforce in Oman to be locals.-TradeArabia News Service