Recruiters consider soft skills such as time management, communication and team work important while hiring candidates, the Bayt.com survey found. Photo: Getty Images
Recruiters consider soft skills such as time management, communication and team work important while hiring candidates, the Bayt.com survey found. Photo: Getty Images
Recruiters consider soft skills such as time management, communication and team work important while hiring candidates, the Bayt.com survey found. Photo: Getty Images
Recruiters consider soft skills such as time management, communication and team work important while hiring candidates, the Bayt.com survey found. Photo: Getty Images

Eight in 10 UAE professionals confident about future of work


Deepthi Nair
  • English
  • Arabic

Eighty-five per cent of professionals working in the UAE either feel confident about the future of work in the Arab world’s second-largest economy or are excited about growth prospects, a survey has found.

Demand for software engineers, physicians, network administrators, business operations managers and biomedical engineers is likely to increase in the future, findings of the survey conducted by jobs site Bayt.com and market research agency YouGov showed.

Other job roles that will also be in demand include systems administrators, designers, data analysts, chemical engineers, nurses and electrical engineers, according to the survey, which polled 1,447 respondents in more than 15 countries, including the UAE, Saudi Arabia, Kuwait, Bahrain and Lebanon, between July 11 and August 11 this year.

“The future of work will bring technology and people together to drive experiences and intelligence in the hiring process,” Ola Haddad, director of human resources at Bayt.com, said.

The global jobs market, which took a hit during the pandemic, is showing signs of recovery as economies reopen. Job listings in the UAE have increased as Dubai gears up to host Expo 2020.

More than half of all jobseekers in the UAE are considering switching industries in the next few months as new career opportunities open up in sectors such as health care, engineering and banking, a separate survey by Bayt.com and YouGov showed last month.

In the current economic climate, the top three industries for job security are in government (31 per cent), followed by military, defence and police (27 per cent), and oil, gas and petrochemicals (23 per cent), the survey found.

More than seven in 10 working professionals in the UAE believe that technological factors, such as digital transformation, automation and artificial intelligence, are most likely to change the nature of work in the future.

While 12 per cent of workers in the UAE are ”nervous” about what the future holds, more than half of the respondents said economic factors, such as business landscape and market saturation, are most likely to change the nature of work.

Nearly two in five respondents said sociocultural factors including changing consumer needs and trends or political factors are likely to change the nature of work in the future.

While soft skills such as time management, communication and teamwork are considered important today, over half of the professionals polled in the Mena region said that both technical and soft skills will be equally important 10 years from now, according to the survey results.

However, 37 per cent of respondents said technical skills will be more important, while 9 per cent picked soft skills as a priority.

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Creative thinking (92 per cent), technology and computer skills (90 per cent), strategic vision (88 per cent) and communication (87 per cent) are the main skills expected to be more crucial in hiring decisions in 10 years' time, according to the survey data.

“Throughout the Mena region, organisations are increasingly trying to ensure that professionals gain the skills, experiences and support that will empower them to reach their potential in their careers,” Zafar Shah, research director of data services at YouGov, said.

“From a recruitment perspective, companies are adapting to emerging needs accelerated by the pandemic by employing new technologies, methods and skills that will vastly improve the job quality and productivity of professionals in the future.”

Previous job experience (87 per cent) and CV presentation (83 per cent) are considered the most important factors in hiring today. Cultural fit (75 per cent), diversity (74 per cent) and degree of specialisation of the candidate (72 per cent) also play a major role in hiring decisions, the poll revealed.

Previous job experience (77 per cent) will continue to be the top factor in securing employment 10 years from now, the data found.

This is followed by the candidate’s degree of specialisation (73 per cent) and diversity (70 per cent), according to Bayt.com.

UAE recruiters use online job sites (66 per cent) and company websites (62 per cent) the most for hiring, the survey found.

However, 91 per cent of respondents said that in the future, online recruitment will increasingly be used for hiring over traditional methods.

Social and professional networks (64 per cent) and online job boards and career websites (63 per cent) will be the most reliable sources for seeking jobs in the future, survey respondents said.

Recruiters also believe AI and technology will improve the hiring process, with 90 per cent of those polled saying that response time to applicants is likely to improve using applicant tracking systems, while 82 per cent believe that the future of hiring will rely more on automation, AI and analytics.

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Company Profile

Company name: Yeepeey

Started: Soft launch in November, 2020

Founders: Sagar Chandiramani, Jatin Sharma and Monish Chandiramani

Based: Dubai

Industry: E-grocery

Initial investment: $150,000

Future plan: Raise $1.5m and enter Saudi Arabia next year

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The biog

Name: Abeer Al Shahi

Emirate: Sharjah – Khor Fakkan

Education: Master’s degree in special education, preparing for a PhD in philosophy.

Favourite activities: Bungee jumping

Favourite quote: “My people and I will not settle for anything less than first place” – Sheikh Mohammed bin Rashid.

Cry Macho

Director: Clint Eastwood

Stars: Clint Eastwood, Dwight Yoakam

Rating:**

Secret Nation: The Hidden Armenians of Turkey
Avedis Hadjian, (IB Tauris)
 

UAE currency: the story behind the money in your pockets
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Living in...

This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.

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In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

Biography

Favourite Meal: Chicken Caesar salad

Hobbies: Travelling, going to the gym

Inspiration: Father, who was a captain in the UAE army

Favourite read: Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter

Favourite film: The Founder, about the establishment of McDonald's

RESULT

Fifth ODI, at Headingley

England 351/9
Pakistan 297
England win by 54 runs (win series 4-0)

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Updated: September 12, 2021, 9:06 AM