Incentives Raise Human Capital
In 2012 we have found ourselves in the midst of a dramatic change in both society and theeconomy. People are desperately trying to cultivate the standards and valuation models that societywill both accept and reinforce as the best practices. Thus allowing for a shared pool of experiencesthat can be referred to when one is evaluating a competitor.We in the Kingdom of Saudi Arabia are in the midst of a large scale transformation. Theleadership of the Custodian of the Two Holy Mosques has brought about huge endeavors such as newuniversities and a Knowledge Economic City (KEC). These initiatives shall serve as the locationsthat mold the minds of future generations. We are witnessing first hand the impact of an evolutionfrom an oil based industrial economy to a service based economy, which has forced most corporationsto focus on the definition of human capital. In fact the Ministry of Labor has developed painstaking rules to transform the job market with a program called Nitaqat. Its objective is merely to include Saudi Citizens in the labor force. I mustconfess that I found this program to be a wonderful tool in my endeavor to find a job. We have takenon the role of investigative journalists as we have tried to apply for certain Higher tier and Middle tier Jobs in the Kingdom of Saudi Arabia. First I presented my credentials in a resume highlighting that I am an American born Saudi Arabianwith international banking experience. When that approach failed to garner the respect of the variousHR departments, I found myself calling Saudi department heads to present myself and my resume,and once again I did not get the job with this approach as I was deflected with plenty of praise withcomments like "Overqualified". So I tried to contact the expatriate executives hoping that we could bond over international standards of excellence that I cited in my resume, and again I fell short of getting the job. It seems that the expatriate executives see an educated Saudi Employee as a threat totheir current position within the company.After I gave up on the resume approach I started publishing videos demonstrating the skills requiredto do the job, along with discussions on intricacies of the financial markets. I also published researchreports on the Internet, three books on Amazon, and over 50 articles in a number of newspapers. Thisapproach gave me a huge amount of notoriety and prestige, which in turn made it easy to contactCEO's and Board Members since they were familiar with my work.