Aug 25 2011 |
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'A fifth of Saudi Companies Likely to Fall Under the 'Red' Zone' says Saudi Minister of Labour
DUBAI, UAE, August 25, 2011/PRNewswire/ 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 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.
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About International Quality and Productivity Centre (IQPC) Middle East:
For over thirty years, IQPC has helped the world's leading corporations solve their business challenges through the sharing of practical industry solutions and global best practice. In the process, the company has built a formidable reputation for quality and value. During this time, the Middle East's most progressive companies have benefited from IQPC's unrivalled global reach, which has connected international expertise with regional and local leaders. For more information, visit http://www.iqpc.ae.
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