Page 229 - Aamir Rehman - Dubai & Co Global Strategies for Doing Business in the Gulf States-McGraw-Hill (2007)

Building Your Team: Human Capital Strategies for the GCC 211

through which UAE nationals, drawn from universities across the
country, serve as interns and are trained in various banking
functions. At the end of the year, graduates of the program enter the
job market—applying for positions at Citibank but also elsewhere
in the financial services sector. Through efforts such as these,
Citibank has been repeatedly recognized with the UAE govern-
ment’s Human Resources Development Award. 29
Programs like Citigroup’s are effective and strategic for several
reasons. One is that they give firms a “first look” at top students from
UAE universities, bringing them on board for a defined period and
evaluating them for longer-term employment. Firms can keep the top
performers and let the others go out into the marketplace. A second
reason is that these programs are designed in a fashion that commits
neither the bank nor the student beyond the first year— precluding the
unpleasant complications that can arise when an employment contract
with a local hire is severed. Third, the programs give firms a chance to
interact with a large number of high-caliber locals who can become
personal and institutional clients in the long run. Good memories from
the internship can lead to significant business flows in the future.
General Electric provides another example of investment in
human capital in the Gulf through the large-scale GE Technology
and Learning Center it established in Qatar in 2005. The initiative
has won significant praise and makes sound business sense for a
firm eager to grow its business in the GCC region.

GE Qatar: Good Business and Goodwill

In 2005, GE announced a five-year, $50 million investment in a
Technology and Learning Center to be built in Qatar’s Science and
Technology Park. The center’s objectives include technical training
for GE customers in the Middle East, Africa, Europe, and Asia, and
research and development for key business lines of relevance to the
region including oil, gas, and water. When completed, the center
should employ about 45 people. 30
The business case for the center appears to be solid. GE’s
expansion in the Middle East and nearby regions has brought many
new customers for whom Doha is a convenient place to train.
Qatar’s world-class infrastructure makes it an easy place for train-
ing participants to travel to and move around in. Concerning the