‘A fifth of Saudi Companies Likely to Fall Under the ‘Red’ Zone’ says Saudi Minister of Labour

The Saudi Ministry of Labour’s recent efforts to tackle Saudi’s highunemployment rate which has hit half a million poses a major threat to alarge number of Saudi organizations, a fifth of which stands in the dangerof being classified under the red zone.

According to the Minister of Labour one in five private companiesoperating in Saudi are a long way away from meeting the Saudization targets.The curb in renewing visas of red zone company employees’ builds worry andfear as people panic about their job security. At the same time thecompanies in the premium and green zones will enjoy numerous incentives andbenefits from September 10th for their efforts in implementing the Nitaqat program.

At this critical juncture companies are looking to hire qualified localworkforce to ensure their compliance and move to the green zone. Developinga long term sustainable Saudization program within the organization iscurrently on top of the agenda of many companies.

The HR Congress, a Saudization focused event to be held in Dammam, SaudiArabia from 19 - 22 November 2011 creates a platform to bring togetherleaders in the region and blue zone companies to reveal successfulstrategies to effectively implement the Nitaqat program. Joining the elitepanel of speakers are Dr. Mohamed Moustafa Mahmoud, Advisor to the Ministerof Labour and Vice President, Savola Group; Fouzie A. Bubshait, President ofASHRM & Director of Training & Technical support, Saudi Aramco; HussainAbahussain, Managing Director of Aujan Industries; Dr. Tommy Weir, ExecutiveDirector of Center for Emerging Markets Leadership; Fahad Al Zahrani,Sr.Vice President, Mobily.

“The event will provide an opportunity to examine local best practicesin the area of Saudization and a unique networking to share relevantexperience of senior HR professional from local and regional majorcorporations” Dr. Mohamed Moustafa Mahmoud, Advisor to the Minister ofLabour quoted.

The summit will bring together CEO’s, President’s, Vice President’s,Managing Directors and HR Directors to educate the most efficient practicesin achieving successful Saudization in the private sector and how to preparethe national workforce to meet the growing demands of the Saudi job market.A full line up of the speakers and delegate profile is available onhttp://www.hrcongressme.com.

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