|
The possibility of the occurrence of a Human Capital Crisis in many countries represents a key area where Australian research institutes and knowledge can be used to address what is fast becoming a complex and detailed problem. A heavy reliance on imported and overseas workers for these regions have resulted in high levels of national employment and slow economic growth.
Commissioning research into the gaps in the Labour Market of such countries has emerged as an area within which Eidos has significant experience and expertise. The prospect of assisting in developing ‘knowledge based economies’ directly aligns with the core research focus of the Eidos Institute in terms of reducing the knowledge gap by building global intellectual capital.
Human Capital in the Gulf Region
For example, Eidos has been working towards answering the question of whether the Gulf Region is heading towards a Human Capital Crisis, and how we will know.
The Gulf Region has key challenges including:
-
Reliance on foreign workers
-
Low local labour force participation, particularly for females
-
Heavy reliance on public sector employment for nationals
-
Wages much higher in public sector than private sector
-
Mismatch between skills delivered to nationals by the education system and that required in the labour market
Over the past 2 years, Eidos has been working in Bahrain completing a labour market analysis.Our collaborative team undertook an extensive skills gap research study from which the following key lessons were drawn:
-
The need for rigorous analysis of data on each sector of the labour market
-
Understanding linkages between the education system and labour market
-
The need to address the gap in expectations between employees and employers, and the ramifications of this gap
-
Useful projections of future labour market trends, based on economic analyses statistical data and international trends.
We are developing our project based on an innovative, best-practice approach.
-
While building on what proved most useful in previous analyses, we will develop a detailed plan to fit Gulf Region priorities.
-
Our methodology is designed to produce flexible responses by key stakeholders to addressing labour market and skills deficiencies.
-
Our project will provide the basis for ongoing monitoring of the labour market and development of programs by nationals.
Lasting social and economic benefits to The Gulf
-
Increased labour force participation by UAE nationals
-
Responsiveness to changing skill demands from education system and within industry recruitment and training
-
Flexible, market based approach tolabour market interventions
-
Increased social cohesion and productivity
-
Informed education, training and labour policy
-
Capacity to plan for future uncertainties (economic, environmental and cultural).
-
Opportunities for increased womens’ participation
|
Hon. Dr Gary Johns (ACU);
Prof. Hurriyet Babacan (JCU);
Prof. Bruce Muirhead (Eidos);
Mike Jeffrey (Eidos); and members of
the Abu Dhabi Tawteen Council
discussing Human Capital at the
Eidos Institute Head Office in
Brisbane, Australia.
Hon. Dr Gary Johns (ACU) with members
of the Abu Dhabi Tawteen Council
|
