Performance management is a process by which managers and employees work together to plan, monitor and review an employee’s work objectives and overall contribution to the organization. More than just an annual performance review, performance management is the continuous process of setting objectives, assessing progress and providing on-going coaching and feedback to ensure that employees are meeting their objectives and career goals.
Human Resource Management (HRM) is simply about recruiting and managing of any organization’s employees. Even though at its core it is even more; HRM focus on finding people to recruit and taking care of everything about their requirements, in order to make them feel good and stay in the company for a longer period or until company wants him or her. When we say, taking care of everything about the peoples, it can be personal, mental and business all the time. For some companies, main focus will be on knowledge about the operations and processes within the company. They deals more with training, coaching, consulting, advices and never resting operational excellence.
Always, HR departments are directly responsible for development of any organization. They are charged with oversight responsibilities to ensure that their organization appropriately builds teams and inspires employee empowerment.
Consultants note that modern human resource management is guided by several overriding principles. Perhaps the paramount principle is a simple recognition that human resources are the most important assets of an organization; a business cannot be successful without effectively managing this resource.
Another important principle, articulated by Michael Armstrong in his book A Handbook of Human Resource Management, is that business success “is most likely to be achieved if the personnel policies and procedures of the enterprise are closely linked with, and make a major contribution to, the achievement of corporate objectives and strategic plans.” A third guiding principle, similar in scope, holds that it is the HR’s responsibility to find, secure, guide, and develop employees whose talents and desires are compatible with the operating needs and future goals of the company. Other HRM factors that shape corporate culture—whether by encouraging integration and cooperation across the company, instituting quantitative performance measurements, or taking some other action—are also commonly cited as key components in business success. HRM, summarized Armstrong, “is a strategic approach to the acquisition, motivation, development and management of the organization’s human resources. It is devoted to shaping an appropriate corporate culture, and introducing programs which reflect and support the core values of the enterprise and ensure its success.”
Starting a business in the UAE is an uncomplicated and hasslefree.
The visionary government has always had pro-investment and pro-business policies, and has encouraged foreign investment. In fact, in the UAE, those who setup business are even offered incentives. Redtape is minimal, procedures are simple, and is taxation is almost non-existent. The government of the UAE had the foresight to realise that backing new businesses will help sustain their economy in the long run. Due to all these reasons, the UAE is the ideal place to setup company or open an offshore branch.
Growing and Diverse Economy: The economy of Dubai is a dynamic and constantly growing one, which is why it is so attractive to companies from all over the world who are interested in company formation in an offshore location. This wealthy Emirate has a stable financial climate which helps a wide range of businesses from start-ups to multi-million dollar conglomerates to operate successfully.
Legal Framework: entirely different set of rules and regulations (except for criminal law) are applicable to foreign investors who want to set up business in Dubai. Paperwork is minimal and procedures are fast tracked so that it becomes extremely easy for company setup, licensing and registration and so on.
Physical Infrastructure: the governing bodies of the free zones provide excellent infrastructure and warehousing, office spaces, power supply, connectivity, and so on.
Availability of Manpower: there is no shortage of manpower in the UAE and especially so in Dubai. Both skilled and unskilled labour flock to the UAE in search of opportunity as wages are high and taxes low, or nonexistent. It is therefore easy for a new company to find the requisite manpower for their operations.
Investment Support and Promotion by the Government: the government provides several pre-and post-support services to investors doing business in Dubai or elsewhere in the UAE, like help with documents, licenses, certificates, postcodes and so on. There are several special areas within the UAE which have special tax customs and imports rules and regulations; these are called Free Zones. In the UAE are over 35 free zones which are spread across Dubai, Abu Dhabi, Sharjah, Ras Al Khaima, Fujaira, Ajman, and Um Al Quwain. These free zones are also spread across the mainland airports and seaports
Open Trading Hub: being a member of the World Trade Organisation, Dubai encourages open trade and has established stable trade relations with several countries in Asia and Europe and North America. In fact, it is a kind of meeting point between the east and west as far as international trade is concerned.
Quality Lifestyle and Culture of Excellence: Dubai is perhaps the most cosmopolitan of all the emirates within the UAE, thus making it a popular destination for tourism and business alike. Home to many of the world’s biggest brands, it is a shoppers’ paradise. Dubai also hosts several trade shows and exhibitions, allowing businesses to showcase their best to the world.
Visionary Leadership: early on itself, the rulers foresaw the potential this tiny island nation had to be a business hub and accordingly, introduced legislation that set the wheels in motion.
Bay Global Consultancy
Post Box: 128124, Baynunah Tower,
Corniche, Abu Dhabi, United Arab Emirates.
T: +971 2 622 2988
M: +971 54 333 0123
F: +971 2 650 3667