Pakistan’s economy has shown improvement during the last three years due to better planning, and continuity in economic policies. The government has concentrated on youth skill development and Technical, Vocational Education and Training (TVET) sectors for giving the youth market-based skills. Government initiatives like CPEC, macro-economic stability, youth business loan schemes, BISP, Prime Minister’s Youth Business Loan Scheme, Interest Free Loan Scheme to the vulnerable and poor, Prime Minister’s Youth Training Scheme, Prime Minister’s Hunermand Pakistan Program and Prime Minister’s Youth Skill Development Program through NAVTTC, Promotion of overseas employment and encouragement of entrepreneurship contributed a lot in achieving the targeted level of employment in the country.
The government is also committed to facilitating women in employment-generation, and 50 percent quota is maintained for them in self-employment schemes.
China-Pakistan Economic Corridor (CPEC) impact on GDP growth would be around 1.5 percent which will create around 1.5 million additional jobs according to some estimates. Investment under CPEC is expected to be over $50 billion. This huge inflow will generate massive economic activities and huge employment opportunities. It is forecasted that CPEC’s impact on GDP growth would be around 1.5 percent. This will create around 1.5 million additional jobs according to some estimates.
There is a realization that the government treats abundant human resource as a liability and not an asset. The fact is that the government is mainly focusing on proper education, demand-based training and skill development for gainful employment. This youth surge has developed due to higher population growth rate in the past. Therefore, the government has identified the human capital as its first pillar in Vision 2025. Higher education funding has been increased by over 100 percent.
Special economic zones will also be established, which will create job opportunities and bring in technological advancement. Provincial governments are free to devise their own employment policies according to their particular requirement. Implementation of relevant policies will help in overcoming the skill-related problems of the provinces.
In Pakistan, during the last few years, numerous legislations and amendments have been made in relevant laws at federal and provincial levels for the protection of women rights, including enhancement of women quota in government jobs.
The Planning Commission is facing acute shortage of human resource and performing its key functions on a makeshift basis, even though it has expanded its role and profile across the government set-up through Vision 2025 and China-Pakistan Economic Corridor (CPEC). The Planning Commission had only one full-time project director instead of about 33. Every project costing more than Rs500 million should have a full-time project director.
The responsibility to monitor all such projects had currently been given to chiefs or deputy chiefs on a ‘look-after’ basis. There were 33 PSDP-funded projects of the planning and development ministry. Unfortunately the all important CPEC support project and Vision 2025 are also without full-time project directors. The quality of consultants was also a major issue. The consultants are not playing the role they are required to.
It was the responsibility of the consultants to monitor project implementation in line with approvals and standards and submit regular reports to the government outside the official system, but they had major difficulties.
Considering the serious hurdles an effective Human Resource (HR) management can place an organization on the right track. With the right people heading the HR function, there can be a thorough change in the corporate culture which puts talents to the best advantage. If this happens then the next step would be to introduce various progressive HR initiatives which would lead a motivated workforce and harmonious industrial relations.
Many senior government functionaries agreed that the HR function is threatening to the success of an institution. They gave poor ratings with regards to practices and importance being given to the HR department in organizations. An important HR intervention is the talent management scheme which was successfully applied in one of the largest banks in the country recently.
As a result, many of its branches converted their losses to huge profits. By adopting various morale boosting techniques had resulted in high motivation from staff members and led to greater customer satisfaction. It was established that what the responders expect most from their jobs are elements of respect, trust and recognition. Although the senior management does recognize the importance of ‘people factor’ in organizations, only a few of them have been successful in using HR effectively.
In most Fortune 500 companies, the head of HR is one amongst the top five senior most executives of the organization. This is something that our organizations lack. Once this is ensured, it will be the key responsibility of HR managers to improve organizational performance by putting people, resources, ideas and technology to its best use. While the basics of HR functions, such as human resource planning, recruitment, training and employee compensation cannot be ignored,
Talent is a scarce resource which requires careful planning. The HR personnel can make a major difference in the organization and contribute significantly to its success through a talent management strategy. When the organizations invest money, resources and energy in nurturing talent and retaining them, they act as the best insurance cover. Development of talent enhances performances in the current positions as well as ensures readiness for transition to the next level.
It is the job of the HR to drive the talent strategy. A rightly managed talent turns out to be a great progress. It is never-ending and priceless. It will keep supplying wealth and value to the organization.