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The UAE continues to be a global talent magnet, ranking fifth in the world for total talent inflow after the US, the UK, Canada and France, a new report by LinkedIn in partnership with the Ministry of Economy has said.
Relative to its population, the inflow of talent to the Emirates is the highest in the world, the professional network service said.
“The UAE has recorded one of the strongest hiring booms globally, with hiring rates 36 per cent higher in December 2021 compared with December 2019,” said Rajai El Khadem, head of LinkedIn Mena for government and academia.
“This represented one of the highest hiring recoveries in the world, trending above other developed economies.”
The jobs market in the UAE, the second-largest Arab economy, has recovered strongly from the pandemic-induced slowdown on the back of the government’s fiscal and monetary measures.
About 76 per cent of UAE employers plan to expand their workforce in 2022, a February survey by jobs portal Bayt.com and market research company YouGov said.
About two thirds of professionals in the UAE will actively look for new jobs in the first half of this year as business confidence and hiring activity return to pre-pandemic levels, recruitment company Robert Walters said.
Booming industries
Sectors in the UAE with the highest recovery in hiring levels include healthcare, software and information technology, all of which saw recruitment pick up after the immediate onset of the pandemic, the LinkedIn report said.
The retail and recreation and travel industries have also recovered and are above pre-pandemic levels, while other sectors such as construction, energy and mining are yet to catch up, the report said.
The UAE also witnessed the “Great Reshuffle”, a talent shift in which an increasingly skilled, flexible and mobile workforce was drawn to opportunities and companies that match their ambitions, LinkedIn said.
“Career switching has become more common in the UAE since the start of the Covid-19 pandemic. Professionals with transferable skills made career transitions out of struggling industries and into sectors that were booming,” Mr El Khadem said.
About 75 per cent of career transitions took place in 10 key industries. Software and IT services attracted 12.2 per cent of talent from other sectors, followed by corporate services (11.6 per cent), consumer goods (8.8 per cent), manufacturing (8.1 per cent) and finance (7.4 per cent), LinkedIn said.
Career change
Many employees switched their careers in 2021 to become “professional and personal coaches”, leading to a 208 per cent growth in these roles compared with the previous year.
“Digital content management and self-employment are two examples of job domains that witnessed a three-fold growth in the number of roles in 2021,” Mr El Khadem said.
Entrepreneurship, business development, research, media and communications and marketing job functions also grew by more than 10 per cent in 2021 compared with 2020, LinkedIn said.
However, there was a decline in traditional jobs such as accounting, engineering, operations and purchasing, which shrank by more than 10 per cent, the report said.
Women in the UAE workforce
Women now make up a greater share of the UAE workforce, climbing to 29 per cent in 2021 from 23 per cent in 2011. This makes the Emirates one of the top-five most-improved countries in the world in terms of female representation in the workforce, the World Economic Forum’s Global Gender Gap Report 2021 said.
Sectors including public administration, healthcare, education, media and communications, and design improved female representation the most, LinkedIn said.
“Adjusting to hybrid working models in the post-pandemic labour market and offering more flexibility will possibly be a helping factor in attracting and retaining female talent,” the report said.
“More opportunities can be created for women by tapping into an extensive and diverse talent pool using a skills-first approach.”
The UAE ranks first regionally in all digital skills categories, including disruptive digital skills, digital software and hardware skills, and applied digital skills, the report said.
The top digital disruptive skills in demand among employers in the UAE are FinTech, artificial intelligence, robotics and data science, LinkedIn said.
“Moving forward, governments as well as companies will be well-served investing in talent and skills development, particularly in the disruptive areas of AI, machine learning, the Internet of Things, robotics and coding,” Mr El Khadem said.
“Incubating the industries of the future won’t be possible without such extensive investment.”
Increase in sustainability-linked jobs
Meanwhile, Covid-19 has been a catalyst for the green economy. The pandemic has accelerated efforts by both the public and private sectors to support a national green recovery and facilitate the transition to a sustainable economy.
The share of green jobs and those that are shifting to become greener have been increasing in recent years, the report said.
Roles such as sustainability managers and environmental co-ordinators have recorded a steady increase in the UAE over the past five years, LinkedIn said.
The share of remote jobs also tripled in the UAE from April 2020 to December 2021.
“Going forward, companies should rethink pre-conceived notions of how work gets done and use technology and processes to create more resilient work environments,” Mr El Khadem said.
“Employers must replace traditional hiring practices with a skills-first approach. Adopting a skills-first approach will allow organisations to tap into diverse talent pools and fill talent gaps faster.”
Reward and recognition, for example, are now influenced by skills and not only by tenure or the fulfilment of standard benchmarks, the report said.
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Tips for newlyweds to better manage finances
All couples are unique and have to create a financial blueprint that is most suitable for their relationship, says Vijay Valecha, chief investment officer at Century Financial. He offers his top five tips for couples to better manage their finances.
Discuss your assets and debts: When married, it’s important to understand each other’s personal financial situation. It’s necessary to know upfront what each party brings to the table, as debts and assets affect spending habits and joint loan qualifications. Discussing all aspects of their finances as a couple prevents anyone from being blindsided later.
Decide on the financial/saving goals: Spouses should independently list their top goals and share their lists with one another to shape a joint plan. Writing down clear goals will help them determine how much to save each month, how much to put aside for short-term goals, and how they will reach their long-term financial goals.
Set a budget: A budget can keep the couple be mindful of their income and expenses. With a monthly budget, couples will know exactly how much they can spend in a category each month, how much they have to work with and what spending areas need to be evaluated.
Decide who manages what: When it comes to handling finances, it’s a good idea to decide who manages what. For example, one person might take on the day-to-day bills, while the other tackles long-term investments and retirement plans.
Money date nights: Talking about money should be a healthy, ongoing conversation and couples should not wait for something to go wrong. They should set time aside every month to talk about future financial decisions and see the progress they’ve made together towards accomplishing their goals.
How the bonus system works
The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.
The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.
There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).
All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.
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Shooting Ghosts: A U.S. Marine, a Combat Photographer, and Their Journey Back from War by Thomas J. Brennan and Finbarr O’Reilly
THE SPECS
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Transmission: 8-speed dual-clutch auto
Top speed: 250kph
Fuel consumption: 6.8L/100km
On sale: Now
Price: Dh146,999
Super Rugby play-offs
Quarter-finals
- Hurricanes 35, ACT 16
- Crusaders 17, Highlanders 0
- Lions 23, Sharks 21
- Chiefs 17, Stormers 11
Semi-finals
Saturday, July 29
- Crusaders v Chiefs, 12.35pm (UAE)
- Lions v Hurricanes, 4.30pm
The specs: 2018 Renault Koleos
Price, base: From Dh77,900
Engine: 2.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 170hp @ 6,000rpm
Torque: 233Nm @ 4,000rpm
Fuel economy, combined: 8.3L / 100km
Types of policy
Term life insurance: this is the cheapest and most-popular form of life cover. You pay a regular monthly premium for a pre-agreed period, typically anything between five and 25 years, or possibly longer. If you die within that time, the policy will pay a cash lump sum, which is typically tax-free even outside the UAE. If you die after the policy ends, you do not get anything in return. There is no cash-in value at any time. Once you stop paying premiums, cover stops.
Whole-of-life insurance: as its name suggests, this type of life cover is designed to run for the rest of your life. You pay regular monthly premiums and in return, get a guaranteed cash lump sum whenever you die. As a result, premiums are typically much higher than one term life insurance, although they do not usually increase with age. In some cases, you have to keep up premiums for as long as you live, although there may be a cut-off period, say, at age 80 but it can go as high as 95. There are penalties if you don’t last the course and you may get a lot less than you paid in.
Critical illness cover: this pays a cash lump sum if you suffer from a serious illness such as cancer, heart disease or stroke. Some policies cover as many as 50 different illnesses, although cancer triggers by far the most claims. The payout is designed to cover major financial responsibilities such as a mortgage or children’s education fees if you fall ill and are unable to work. It is cost effective to combine it with life insurance, with the policy paying out once if you either die or suffer a serious illness.
Income protection: this pays a replacement income if you fall ill and are unable to continue working. On the best policies, this will continue either until you recover, or reach retirement age. Unlike critical illness cover, policies will typically pay out for stress and musculoskeletal problems such as back trouble.
WHEN TO GO:
September to November or March to May; this is when visitors are most likely to see what they’ve come for.
WHERE TO STAY:
Meghauli Serai, A Taj Safari - Chitwan National Park resort (tajhotels.com) is a one-hour drive from Bharatpur Airport with stays costing from Dh1,396 per night, including taxes and breakfast. Return airport transfers cost from Dh661.
HOW TO GET THERE:
Etihad Airways regularly flies from Abu Dhabi to Kathmandu from around Dh1,500 per person return, including taxes. Buddha Air (buddhaair.com) and Yeti Airlines (yetiairlines.com) fly from Kathmandu to Bharatpur several times a day from about Dh660 return and the flight takes just 20 minutes. Driving is possible but the roads are hilly which means it will take you five or six hours to travel 148 kilometres.