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About 76 per cent of UAE employers plan to expand their workforce in 2022 as the country's economy and jobs market improve on the back of Expo 2020 Dubai and the government’s positive handling of the Covid-19 pandemic, according to a new survey.
The human resources sector is leading the hiring drive, with 68 per cent of companies set to recruit HR specialists in the first quarter of this year, the survey by jobs portal Bayt.com and market research company YouGov found.
This was followed by 67 per cent of employers in the hospitality, recreation and entertainment sector, and 65 per cent of banking and finance companies.
Meanwhile, 46 per cent of UAE companies plan to fill up to five roles in the next three months while 19 per cent of organisations are looking to fill six to 10 positions, the survey found.
A fast and effective talent acquisition programme, being clear about what the organisation stands for, its culture and flexible working conditions are the deciding factors in winning talent
Ola Haddad,
director of human resources at Bayt.com
New jobs growth across the GCC region will continue to strengthen in 2022, driven by sectors such as cyber security, digital, property and banking, a report released by recruitment specialist Cooper Fitch last week found.
The jobs market in the UAE, the second-largest Arab economy, has made a strong recovery from the coronavirus-induced slowdown on the back of the government’s fiscal and monetary measures.
About 43 per cent of businesses in the country plan to raise salaries this year by an average of 3 per cent, Cooper Fitch said in its 2022 salary guide in December.
The Bayt.com survey polled 1,481 respondents between December 8, 2021 and January. They were from countries including the UAE, Saudi Arabia, Jordan and Egypt.
“Demand for professionals continues to grow in the Middle East and North Africa region,” Ola Haddad, director of human resources at Bayt.com, said.
“A fast and effective talent acquisition programme, being clear about what the organisation stands for, its culture and flexible working conditions are the deciding factors in winning talent during this period of growth.”
With coronavirus restrictions easing in the UAE, there has been a steady influx of tourists. To cater to this demand, 79 per cent of companies in the hospitality, recreation and entertainment industries plan to hire more employees over the next 12 months, the Bayt.com survey said.
There is also an increase in hiring activity in the business consultancy, business management and management consulting sector, and the manufacturing industry, where 78 per cent and 75 per cent of companies, respectively, intend to increase their headcounts this year.
Eighteen per cent of UAE employers are also looking for marketing and sales executives in the coming quarter, while 17 per cent are seeking accountants and sales managers, according to Bayt.com.
In terms of the most sought-after academic qualifications, 32 per cent of employers are looking for candidates with business management degrees, followed by 29 per cent who are seeking candidates with engineering backgrounds and 22 per cent who want people with commerce credentials.
Employers are also looking for employees with good English and Arabic communication skills, who can work as team players, have an ability to work under pressure and possess strong leadership skills.
“The future is bright for job seekers as the Mena [region] starts to see the light at the end of the pandemic tunnel,” said Zafar Shah, research director at YouGov. “Thanks to robust vaccine programmes and people returning to the office, hiring trends reflect an encouraging recovery.”
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
'Ghostbusters: From Beyond'
Director: Jason Reitman
Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace
Rating: 2/5
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
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Washmen Profile
Date Started: May 2015
Founders: Rami Shaar and Jad Halaoui
Based: Dubai, UAE
Sector: Laundry
Employees: 170
Funding: about $8m
Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures
