Samruk Kazyna may waive services of foreign experts

Samruk Kazyna may stop hiring foreign experts in the near future, Tengrinews reports citing Daniel Cruysberghs, Chief Human Resources Officer at Sovereign Wealth Fund Samruk Kazyna.

"In a few years from now we will no longer need to invite foreign gurus because we will have our own. We have the potential here. All you need to do is work together, learn more about each other, and go forward hand in hand," he said, talking about the transformation of HR in Samruk Kazyna group of companies.

According to Cruysberghs, one cannot talk business while separating it from HR. This is because HR has an important function of creating additional value and accelerating the “understanding of business objective.”

“Our administrative function is the foundation, the basis that should work well, but we must build a superstructure of strategic understanding on it. To do this we need to have knowledge, capacity, and this requires some work and development," he said.

First of all, it is necessary to understand what business transformation means, because it starts with the vision of the leadership of a company. After that, one should analyze what needs to be done. 

In this case, the HR specialist identified three main objectives.

“The first is to increase the company's value in order for the companies to become more expensive and be able to pay dividends to shareholders, that is the government. Secondly, it is necessary to look into restructuring of the portfolio. It is necessary to think about how to invest in other sectors of the economy, except raw materials. We are talking about portfolio diversification, and above all, we must focus on increasing the non-oil sector. Next - corporate governance. We want to eventually become more a commercial and strategically oriented organization," Cruysberghs said.

Reporting by Altynai Zhumzhumina, writing by Dinara Urazova