Human Capital
2
Communication
Barriers
2
About IMC &
IMConnect
3
Inside this issue:
According to a new indus-
try report, "Retail
Sector
in UAE", retail sales in
the UAE are increasing
and it
is expected to grow
further in coming years.
Infrastructure develop-
ment projects are ex-
pected to push the retail
sector in the country.
Re-
tail real estate sales in the
UAE are likely to grow
around
12% annually from
last year to 2011, according
to a report. Middle
East
Council of Shopping Cen-
tres (MECSC) named Saudi
Arabia
as the country with
the best retail opportuni-
ties while Bahrain
will be a
direct beneficiary being a
favorite tourist hub for
Saudi nationals.
This is different to the
world, where retail
sales
have been hit hard by the
ongoing global financial
turmoil.
Many other coun-
tries around the world are
facing tough time. The
research predicts a retail
sales growth of around
10% in the
UAE for the
full year 2009.
Massive infrastructure
development
remains at
the vanguard of the pro-
jected growth in the UAE
retail sector in coming
years. Dubai alone is
expected to surpass
55
malls by 2009. These
real estate developments
have also attracted
more
tourists and led higher
growth in the retail sales.
Report provides
an ex-
haustive research and
rational analysis on the
retail
market of the UAE.
The study gives an over-
view on various factors
driving the retail sector,
together with the forces
that are
blocking the
growth of the industry.
The research also features
forecast on vital factors of
the industry.
"We hope that these re-
ports comes out to be
true
thus providing more em-
ployment opportunities as
well as
more business for
the companies in this
challenging year"
The high cost of living in
the Gulf has been
high-
lighted as a major barrier
to recruiting healthcare
professionals
into the re-
gion, a new survey has re-
vealed. A total of 40 per-
cent of healthcare profes-
sionals already working in
the region,
who were ques-
tioned for the survey, said
living costs were the
big-
gest hurdle facing the in-
dustry in terms of hiring
more staff. High rents and
buying costs, especially
in
Dubai and Abu Dhabi,
were cited as the biggest
threat to
attracting poten-
tial candidates. Its also
evident that companies
have started their expan-
sion plans seeing the boom-
ing UAE
healthcare sector,
recently General Electric
Company and the Qatar
Foundation have signed an
agreement to launch health
care business and research
initiatives. The
new com-
pany will establish health-
care IT product develop-
ment,
training and educa-
tion facilities at the GE
Advanced Technology
and
Research Centre at Qatar
Science and Technology
Park. They
plan to expand
in Africa and other parts of
Middle East after initially
starting from Doha.
Corporations are recognizing the im-
portance
of investing in their employ-
ees now more than ever before. Com-
panies are beginning to understand
that to stay on top in the global
econ-
omy, they need to place more and
more emphasis on developing
and re-
taining their people.
Organizations that appreciate the
financial
impact of their employees
often refer to them as human capi-
tal.
Human capital can be defined as
"recognition
that people in organi-
zations and businesses are an im-
portant and
essential asset who
contribute to development and
growth, in a similar
way to physi-
cal assets such as machines and
money
. The collective attitudes, skills
and abilities of people contribute to
organizational
performance and pro-
ductivity. Any expenditure in train-
ing, development, health and support
is an
investment, not just an expense."
"Competition is so fierce and change
is
so fast, that any competitive edge
gained by the introduction
of new proc-
esses or technology can be short-lived if
competitors
adopt the same technology.
But to implement change, their people
must have the same or better skills
and abilities."
So since companies are finally valuing
people
and their softer skills, does that
make it easier to hire good people?
The
answer is no. In today's business cli-
mate, attracting and retaining
the best
employees is very difficult. The reason
is a combination
of the change in busi-
ness practices and the shift in em-
ployee
attitudes. The business land-
scape has changed dramatically in the
past decade as a result of many factors
from the feverish hiring
boom of the
past few years and the recent slow-
down . During this same period of
time, employee
attitudes have
changed dramatically. Exposure to
widespread layoffs
and corporate
scandals has led to an erosion of com-
pany loyalty
and reevaluation of ca-
reer and life priorities by many em-
ployees.
The bottom line is this. In order to
achieve
professional growth and suc-
cess in the next period of increased
talent acquisition, technology profes-
sionals are going to have to step
out of
their comfort zone and develop the
holistic, relationship-focused
business
skills that companies are requiring.
And by the same token
,
companies
are going to have to take a more stra-
tegic
and supportive approach to re-
cruiting and retention if they want to
find and keep the new breed of evolv-
ing talent.
event, their
mental im-
ages of that
event will
not be iden-
tical. As
senders, we
choose the
details that
seem im-
portant and
focus our
attention
on the most relevant and general, a
process known as selective perception.
As receivers, we try to fit new details
into our existing pattern.
If a detail
doesn't quite fit, we are inclined to
distort the information
rather than
rearrange the pattern
. Poor listen-
ing :Perhaps the most common bar-
rier to reception
is simply a lack of
attention on the receiver's part. We
When you send a message, you intend
to communicate
meaning, but the
message itself doesn't contain mean-
ing. The meaning
exists in your mind
and in the mind of your receiver. To
understand
one another, you and your
receiver must share similar meanings
for
words, gestures, tone of voice, and
other symbols. Differences in per-
ception: The world constantly bom-
bards us with information: sights,
sounds, scents, and so on. Our minds
organize this stream of sensation
into
a mental map that represents our per-
ception or reality. In
no case is the
perception of a certain person the
same as the world
itself, and no two
maps are identical. As you view the
world, your
mind absorbs your experi-
ences in a unique and personal way.
Because
your perceptions are unique,
the ideas you want to express differ
from other people's Even when two
people have experienced the same
all let our minds wander now
and then, regardless
of how
hard we try to concentrate.
People are essentially likely
to drift off when they are
forced to listen to informa-
tion
that is difficult to under-
stand or that has little direct
bearing
on their own lives.
Too few of us simply do not
listen well! To
overcome bar-
riers, paraphrase what you
have understood, try to view the
situation
through the eyes of other
speakers and resist jumping to con-
clusions.
Clarify meaning by asking
non-threatening questions, and listen
without interrupting. Apart from
the above the reasons can be dif-
ferent emotional states, language
problem, deferring backgrounds
P O Box No.16061,
Jebel Ali Free Zone,
Dubai, UAE
to ceo@imc-dubai.com ,we would be
more than
happy to incorporate it
with your brief profile in IMConnect`s
subsequent issues.
We will try our best to make this
newsletter
informative and above all
readable.
So welcome aboard to IMConnect and
lets Connect
Quotes:
"Management is efficiency in climbing
the ladder
of success; leadership deter-
mines whether the ladder is leaning
against the right wall."
IMConnect is an initiative by IMC to
connect
people who are passionate
about people. This is a monthly news-
letter
with an objective to provide in-
formation collated from various
sources pertaining to various indus-
tries, articles related human re-
sources. To be more communicative
with our industry we would also re-
quest our readers to be a part of this
newsletter by writing articles/case
studies/related to your area of exper-
tise or sector which will
help in
achieving our objectives
In the coming months we are also
planning to
start our own market re-
search in the Gulf region by doing
regular
surveys which will help us all
in knowing the market trend.
You are welcome to send your articles
Phone: 971 04 8813199
Fax: 971 04 8813166
E-mail: ceo@imc-dubai.com
management@imc-dubai.com
Web: www.imc-dubai.com
Blogs: https://
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