It’s going to be a very long weekend for the public and private sectors
The UAE has announced a double public holiday for this year’s National Day celebrations – and it’s going to be a very long weekend.
The public and private sectors will be given Sunday December 2 and Monday December 3 off as holidays, the UAE Cabinet announced on Friday night.
The 47th UAE National Day will fall on the Sunday, marking the date the UAE was originally formed back in 1971.
There are always loads of celebrations across the country, including fireworks, traditional dances and other events.
Dubai’s houses, public buildings and cars will be decorated with the national flag and images of the country’s leaders.
November 30, which is Commemoration Day (formerly known as Martyrs Day) is usually a public holiday as well, but no announcements have yet been made about that day by the UAE Cabinet.
Source : https://www.timeoutdubai.com/news/389360-uae-public-holiday-announced-for-national-day-2018
Sean Burgess | PraxisIFM Asset Manager and Co-Founder Emirates HR
US STOCKS MARGINALLY LOWER BY FRIDAY
With growth-orientated sectors underperforming for a third consecutive week, on uncertainty over trade between the US and China. Early in the week, stocks declined on news that the US was planning tariffs against all Chinese imports from January, however investor sentiment improved later in the week after President Trump said that he thinks a deal can be agreed at the upcoming G20 summit.
POUND TUMBLES 1.7 PERCENT ON THURSDAY
Its largest 1-day fall against the US dollar in two-years, after the release of a draft Brexit agreement led to a series of high-profile resignations from Theresa May’s cabinet. Critics argue that the agreement will give unreasonable powers to Brussels when the country exits the EU and will diminish the integrity of the UK by creating a separate regulatory regime for Northern Island.
ITALY IGNORES EUROPEAN COMMISSION
Maintaining 2.4 percent budget decit and 1.9 percent growth targets for 2019. The EC demanded that Italy revise their budget to tackle high debt levels and to reduce its growth estimate to 1.2 percent, otherwise the country is on track for a budget deficit over the next two years of 2.9 and 3.1 percent, respectively. The EC are expected to announce action against the Italian government this week.
JAPAN’S ECONOMY CONTRACTS BY 1.2 PERCENT
Measured at an annualised rate over the third quarter of 2018, which is worse than the 1 percent forecast and the first quarterly contraction this year. Growth was hit by weak domestic consumption, a decline in exports and a series of natural disasters, including a heatwave, flooding, a typhoon and an earthquake. Exports over the period fell 1.8 percent, the largest fall in over three years.
US CRUDE FALLS 6.2 PERCENT
Its sixth consecutive weekly loss, on concerns that the global market remains oversupplied despite fresh sanctions on Iran. The market expects to have 1 million barrels a day less Iranian oil, but other producers will more than fill the shortfall. Prices had some support at the end of the week on expectations of further production cuts when OPEC members and other major oil producers meet next month.
In other financial news:
- Argentinian shares surge, with the Merval index up 4 percent, as the government passes its 2019 budget that includes measures to satisfy the IMF’s bailout package.
- Mexican stocks tumble, with the IPC index down 4 percent, as investors show a lack of confidence in the policies of President-elect, Andres Manual Lopez Obrador.
- Uber announces $1billion quarterly loss, more than $891m the previous quarter, as the firm comes under pressure to prove profitability before its IPO next year.
- Alibaba breaks ‘Singles Days’ record, with the Chinese online retailer processing $30.8 billion worth of sales during the annual, one-day shopping festival.
Strategic HR planning is required when implementing operational plans and goals for an organization. The purpose of this HR planning is to determine if an organization has the right people, with the right skills, at the right time.
Any plan to determine workplace needs and a strategy to support organizational goals consists for a few steps:
1. Assessment: The knowledge, skills and abilities of staff needs to be analyzed. This can be accomplished by developing a skills inventory for each employee and listing all education and training. It is helpful to re-examine job descriptions for current employees as well.
2. Forecasting: There are many questions that need to be answered at this step.
– How many staff will be required to fulfill the plans and goals of the organization?
– What skill sets are required?
– Do your current employees have the required skills?
– Are employees currently using their strengths?
3. HR Gap Analysis: This is a result of the difference between the assessment and forecasting analyses and covers these points and questions:
– Does the organization have the employees and skill sets to accomplish team goals and plans?
– It is also important to review factors that influence short-term employment levels such as pending retirements, historic turnover rates and promotions.
4. Strategies: This is where HR planning can vary greatly depending on the result of the HR Gap Analysis. The different between projected labor needs and the current labor supply represents the “gap” that needs to be addressed. Here are some of the strategies used to address an HR gap in an organization:
– Restructuring (reducing staff, regrouping tasks to create newly designed jobs, reorganizing work units)
– Training and development (providing staff with training to take on new roles, development opportunities for future jobs)
– Recruitment (hiring new staff with skills and abilities needed)
– Outsourcing (using external people or organizations to complete tasks)
There are many factors to consider when analyzing an organization’s HR needs in the present and the future. HR planning is crucial and always starts with determining the skills inventory of all employees at an organization. With this information, it is then possible to find any gaps in the projected organizational plans and goals. After HR gap analysis is completed, it may be determined that new staff is necessary, and the focus can move to the recruitment strategy.
Source : https://www.agweb.com/article/hr-planning-4-steps-to-identify-workplace-needs/
What is HR for?
Human resources exists to understand and support the people side of business. From finding and attracting the people organisations need, to developing, rewarding, engaging and improving how they are performing. The pace of change around us means we have to create agile businesses where we can access new sources of talent, and effectively upskill and reskill our workforces.
These have been the traditional areas of focus for the people profession, but the future will need to encompass a broader role in shaping the jobs, organisational structures, operating models and cultures that are sustainable and adaptive. The future of work is shaping the future of the people profession and its vital role in enabling and sustaining work, workforces and workplaces that are a positive force for good, for individuals, organisations, economies and society.
Getting the best out of people clearly takes a lot more than just working harder. How people are managed, supported and trained are all critical to improving performance, as is the nature of the work itself. Many surveys show there is much to be done in improving how people feel about work and how this connects to the challenges of productivity and driving innovation.
HR’s job is to ensure people are at the heart of work
Areas such as personal wellbeing are central to good work. People also want to feel included at work whatever their background, to have a voice and have influence over how they work, to use and develop their skills and talents, and have fair pay and conditions. All these are dimensions of the quality of the work and roles people perform that enable productivity, engagement, creativity and innovation.
HR should be at the forefront of improving the ways we manage, develop and support people, and in how we shape jobs and organisations to deliver sustainable and responsible outcomes. We need to move beyond the historical management philosophies of control, with too many rules and inflexible processes, and beyond the siloes of the past, to work closely with other key functions in shaping the future of our organisations.
Like every business function, HR should become more evidence based, using good data and understanding science and research to shape practices, and understand real outcomes not just inputs. HR also has to invest more in itself, to utilise emerging technologies to become more efficient and effective, and to build new capabilities in areas such as analytics as well as strengthening areas like job and organisational design. HR should champion better work and working lives, and together we all need to make sure that people are at the heart of the future of work.
Source : https://www.raconteur.net/hr/hr-people-future-work
Sean Burgess | PraxisIFM Asset Manager and Co-Founder Emirates HR
US STOCKS RECOVER ON POLITICAL GRIDWORK
With the large-cap S&P 500 and Dow Jones indices up over 2 percent a piece, after the two major political parties shared the spoils in the midterm elections. The healthcare sector outperformed as a Democrat controlled House of Representatives almost ensures subsidies will continue under the Affordable Care Act, whilst communication shares underperformed after Netflix fell over 9 percent.
UK ECONOMY GROWS AT FASTEST RATE SINCE 2016
Expanding by 0.6 percent in the third quarter, as warm weather in July boosted consumer spending. Economists have warned that whilst the quarterly figure appears positive, in fact August and September recorded zero GDP growth. Long-term growth remains weak and forecasts for the final three months of the year are negative, with economists expecting the growth rate to decline.
ITALY TO BREACH EU BUDGET DEFICIT LIMIT
Set at an annual rate of 3 percent for all member nations, if the new government goes ahead with their current spending plans. The European Commission have forecast Italy’s deficit to be 2.9 percent next year and 3.1 percent in 2020. They have also called into question Italy’s 1.5 percent growth estimate for 2019, which underpins their budget plans, instead expecting expansion of 1.2 percent.
OIL PRICES FALL FOR 10 CONSECUTIVE DAYS
Wiping out this year’s gain and officially entering a bear market – classified by a 20 percent fall from a recent high. Investor confidence has been hit by concerns that growing global supplies will now overwhelm the market after President Trump gave waivers to 8 countries that allows them to continue importing Iranian oil for 180 days, despite sanctions coming into force at the start of this month.
In other financial news:
- Turkey’s inflation rate hits 25.24 percent, the highest rate in 15 years, putting pressure on the central bank to hike rates again from their current 24 percent level.
- Chinese exports to US surge in October, growing 15.6 percent from a year earlier, driven by a weaker currency and buyers rushing to beat the introduction of new tariffs.
- Mexican stocks fall on bank sector sell-of, after a proposal to eliminate fees was introduced to the Senate, although President-elect denied a change to banking laws.
18th November private sector holiday to mark Prophet’s birthday
The UAE Ministry of Human Resources and Emiratisation, MoHRE, has announced that Sunday, 18th November will be a public holiday for private sector entities.
The announcement was made by Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation, following the UAE Cabinet decision to mark Sunday as a public holiday, instead of Tuesday, 20th November, which is expected to mark Mawlid Al Nabi – the anniversary of the Prophet Muhammad’s birthday.
This will mean a three-day weekend with work resuming on Monday, 19th November.
The Minister extended his greetings on the occasion to President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and the Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Their Highnesses, Supreme Council Members and Rulers of the Emirates.
UAE Cabinet approves new date for Mawlid Al Nabi holiday
The UAE Cabinet confirmed that Sunday, 18th November, will be a public holiday for ministries and federal authorities, instead of Tuesday, 20th November, to mark the anniversary of Mawlid Al Nabi, the birthday of the Prophet Muhammad, PBUH.
Work will resume on Monday, 19th November.
The UAE Cabinet extended its greetings on the occasion to President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and the Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and Their Highnesses Supreme Council Members and Rulers of the Emirates.
Source : https://www.emirates247.com/news/emirates/3-day-weekend-in-uae-for-prophet-s-birthday-2018-11-06-1.675235