Arthur D. Little discusses the future of human capital with Saudi leaders

03 October 2024 Consultancy-me.com

Arthur D. Little has hosted its Executive Leadership Workshop in Riyadh, bringing together over 30 leaders from business and government to discuss key trends and developments in the area of human capital.

The third edition of the Executive Leadership Workshop saw senior leaders from government ministries, the Public Investment Fund, Nokia, HSBC, Diriyah and other organizations travel to Riyadh to learn from experts in the field, share experiences, and gain insight into hands-on learning for their own role.

Topics on the agenda included: (i) the existing skills gap in Saudi Arabia, (ii) the need to balance local and international talent, (iii) the impact of AI and automation, and (iv) adapting to change, with a focus on Gen Z.

During the roundtable, attendees reached consensus on several key points, including:

  • Bridging the skills gap involves the development of a long-term ecosystem.
  • Balancing foreign skills and local talent building requires a hybrid approach conducted on a sector-by-sector basis.
  • Saudi Arabia is home to a young population. Within two decades, the majority will be outside of working age, creating an urgent need for human capital resources, both local and global.
  • Implementing AI is no longer a choice in Saudi Arabia; it is a necessity. As such, the question is not whether to embrace AI, but how to manage and govern it for best results.
  • It is important to give young Saudis space to experiment and learn from mistakes in order to grow into the leaders of tomorrow.

Reflecting on the ground that already has been achieved in the area of recruitment, Mohammed Babgi, Nomination and Remuneration Committee Member in public sector organizations, said: “Over the last years we have significantly changed the way we attract top talent compared to previously.”

Commenting on the topic of AI during the discussions, Selwa Al-Hazzaa, CEO and Founder of SDM, emphasized the importance of acting now to harness the power of emerging technology: “If you’re not tech ready, you’ll be out of a job. If you embrace it, you won’t just have a job, you’ll be a leader.”

Thomas Kuruvilla, the Managing Partner of Arthur D. Little, emphasized the criticality of talent and skills development: “Our latest CEO Insights highlights the importance of human capital, including the need for new skill sets and a whole new way of managing. It is a need that Saudi Arabia understands well, with 75% of executives in the Kingdom recognizing the importance of reskilling their employees.”

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