Saudi Arabia has been introducing initiatives to build the capabilities needed for its marketplace.
Saudi Arabia has been introducing initiatives to build the capabilities needed for its marketplace. One of the latest initiatives is the HR Transformation Initiative by the Ministry of Human Resources and Social Development (MHRSD), said a report by KPMG.
In its latest publication, The future of HR: Lessons from pathfinders, KPMG explains how global HR professionals are dealing with disruption within their organisations.
“Our interactions with global experts suggest that companies are now prioritizing bold people strategies as a crucial element in achieving a competitive edge, especially during the current period of the Great Reconsideration,” said Niam Sinno, Head of People and Change Advisory at KPMG Professional Services.
“The report explores six key themes: delivering strategic flow; being digital in thought; word and deed; advancing analytics from insight to action – safely; shopping for talent — building talent marketplaces; holding to the heading — how to make purpose real and prioritizing wellbeing,” explained KPMG in a press release.
The latest Saudi initiative will update all HR departments in ministries into a new management style by qualifying their employees with professional certificates in the field of human resources and supporting the departments in terms of developing processes and structuring to ensure raising the level of growth.
“Saudi Arabia’s economic landscape increasingly involves HR professionals in strategic and financial discussions. With market insights, data, metrics, and benchmarks, HR teams are challenged to assist in workforce skills development,” said Sinno.
The report said that one of the many HR trends is the shift towards artificial intelligence (AI) and HR cloud. “
“A wide range of aspects has benefited from AI technology, from report generation to decision-making processes. In the years to come, companies expect these HR trends in Saudi Arabia to grow and have a greater impact on HR industries,” KPMG wrote in a press release.
Another HR trend is the focus on data-driven decisions. HR professionals are increasingly required to think strategically, hence, data such as compensation raises must be analysed to ensure the business’s return on investment (ROI) isn’t affected.
“As our community continues to be impacted by global economic uncertainty, HR must stand tall and support its employees. It is time organisations introspect and plan for the future, embracing the support of scientifically driven approaches while upholding their company values,” Sinno added.