Nearly 90 per cent of UAE employees want to work either in a hybrid or fully remote working model in the future, according to a survey by California-based technology company Cisco.
Offering flexibility to employees is also key for companies to attract and retain talent in a post-Covid-19 working environment, with 61 per cent of UAE professionals saying they would be less likely to look for a new role if given the opportunity to work either remotely or in the office only one or two days a week, Cisco said on Tuesday.
The Cisco Global Hybrid Work study polled 28,000 full-time employees from 27 countries including the UAE, UK, US, India, China, Australia, South Africa and Germany, among others. The research was conducted between January and March 2022. In the UAE, 1,050 employees were surveyed.
“Employees have experienced the benefits of hybrid work firsthand and many have expectations for it to continue,” said Reem Asaad, vice president of Cisco Middle East and Africa.
“While most organisations in the UAE recognise the importance of flexible working, there remain opportunities for further improvement.”
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.
Last week, a survey by LinkedIn found that 70 per cent of professionals in the UAE and Saudi Arabia have considered leaving or have left their jobs because of a lack of flexibility. This comes amid a widening disconnect between employers and employees about returning to the office after the Covid-19 pandemic.
Dubbed “flexidus”, the finding comes despite 97 per cent of hiring managers in the UAE and Saudi Arabia saying their companies had improved working policies since the pandemic to offer greater flexibility to employees, the professional services network found.
This resonates with the Cisco research, which found that 83 per cent of companies in the UAE support hybrid work practices, while more than 28 per cent of respondents said their companies were “fully prepared” for a hybrid work future and 43 per cent were “prepared”.
Globally, about 25 per cent of respondents to the Cisco survey said their companies were “very prepared” for hybrid and remote working.
Meanwhile, 60 per cent of those polled in the UAE said their productivity had increased and their quality of work had improved since working remotely, the survey said.
“A successful, future ready hybrid model must, in equal measure, deliver secure connectivity from anywhere, while also maintaining trust, well-being and unity among highly distributed teams,” Ms Asaad said.
Major companies around the world are allowing staff to work in a hybrid or work-from-anywhere environment, including Apple, Facebook owner Meta Platforms and Microsoft.
Last month, Airbnb, the global online marketplace for homestays, said it will allow its employees to work from anywhere permanently, in a bid to further improve flexibility.
Even Kristalina Georgieva, managing director of the International Monetary Fund, told The National earlier this year that “we have to move to a hybrid [working] model”.
While UAE companies have taken positive steps to help their employees adapt to hybrid work, 70 per cent of respondents to the Cisco survey said their company needed to rethink its culture and mindset for it to be truly inclusive.
However, employees who were able to work remotely reported that it made them happier and more motivated in their jobs, Cisco said.
Globally, hybrid work is the most preferred model across all ages, with about 70 per cent of Generation Z, millennials, Generation X and Baby Boomers all preferring the flexibility it offered. Those who want a fully remote set-up are a distant second at about 20 per cent.
The UAE is also among the countries where employees are least in favour of fully remote work, with 9.7 per cent agreeing that this was their preferred way of working. Only 9.5 per cent of respondents in the Netherlands want to work fully remote, while in China it is 10 per cent.
Employees in the Philippines were most in favour of full-time remote work at almost 38 per cent, followed by Canada on 35 per cent and South Africa at 33.5 per cent.
Meanwhile, the survey found that more 76.3 per cent of people globally had been able to save money over the past year thanks to hybrid work, with average savings totalling $153.54 per week, or $8,000 a year.
Savings accounted for a 14.5 per cent increase in disposable income on average, with 80 per cent seeing an increase in their disposable income of at least 5 per cent, it added.
“A good proportion of the savings have come because of reduced expenditure on key items,” Cisco said.
“A sizeable 86.6 per cent ranked savings on fuel and/or commuting among their top three areas for savings, followed by decreasing spending on food and entertainment at 74 per cent.”
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
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.
Our Time Has Come
Alyssa Ayres, Oxford University Press
RIVER%20SPIRIT
%3Cp%3E%3Cstrong%3EAuthor%3A%20%3C%2Fstrong%3ELeila%20Aboulela%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Saqi%20Books%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPages%3A%3C%2Fstrong%3E%20320%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EAvailable%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
MWTC info
Tickets to the MWTC range from Dh100 and can be purchased from www.ticketmaster.ae or by calling 800 86 823 from within the UAE or 971 4 366 2289 from outside the country and all Virgin Megastores. Fans looking to attend all three days of the MWTC can avail of a special 20 percent discount on ticket prices.
My Cat Yugoslavia by Pajtim Statovci
Pushkin Press
Key findings of Jenkins report
- Founder of the Muslim Brotherhood, Hassan al Banna, "accepted the political utility of violence"
- Views of key Muslim Brotherhood ideologue, Sayyid Qutb, have “consistently been understood” as permitting “the use of extreme violence in the pursuit of the perfect Islamic society” and “never been institutionally disowned” by the movement.
- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
The winners
Fiction
- ‘Amreekiya’ by Lena Mahmoud
- ‘As Good As True’ by Cheryl Reid
The Evelyn Shakir Non-Fiction Award
- ‘Syrian and Lebanese Patricios in Sao Paulo’ by Oswaldo Truzzi; translated by Ramon J Stern
- ‘The Sound of Listening’ by Philip Metres
The George Ellenbogen Poetry Award
- ‘Footnotes in the Order of Disappearance’ by Fady Joudah
Children/Young Adult
- ‘I’ve Loved You Since Forever’ by Hoda Kotb
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.”
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
COMPANY%20PROFILE
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The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
Married Malala
Malala Yousafzai is enjoying married life, her father said.
The 24-year-old married Pakistan cricket executive Asser Malik last year in a small ceremony in the UK.
Ziauddin Yousafzai told The National his daughter was ‘very happy’ with her husband.
Hamilton’s 2017
Australia - 2nd; China - 1st; Bahrain - 2nd; Russia - 4th; Spain - 1st; Monaco - 7th; Canada - 1st; Azerbaijan - 5th; Austria - 4th; Britain - 1st; Hungary - 4th; Belgium - 1st; Italy - 1st; Singapore - 1st; Malaysia - 2nd; Japan - 1st; United States - 1st; Mexico - 9th
Results
Catchweight 60kg: Mohammed Al Katheeri (UAE) beat Mostafa El Hamy (EGY) TKO round 3
Light Heavyweight: Ibrahim El Sawi (EGY) no contest Kevin Oumar (COM) Unintentional knee by Oumer
Catchweight 73kg: Yazid Chouchane (ALG) beat Ahmad Al Boussairy (KUW) Unanimous decision
Featherweight: Faris Khaleel Asha (JOR) beat Yousef Al Housani (UAE) TKO in round 2 through foot injury
Welterweight: Omar Hussein (JOR) beat Yassin Najid (MAR); Split decision
Middleweight: Yousri Belgaroui (TUN) beat Sallah Eddine Dekhissi (MAR); Round-1 TKO
Lightweight: Abdullah Mohammed Ali Musalim (UAE) beat Medhat Hussein (EGY); Triangle choke submission
Welterweight: Abdulla Al Bousheiri (KUW) beat Sofiane Oudina (ALG); Triangle choke Round-1
Lightweight: Mohammad Yahya (UAE) beat Saleem Al Bakri (JOR); Unanimous decision
Bantamweight: Ali Taleb (IRQ) beat Nawras Abzakh (JOR); TKO round-2
Catchweight 63kg: Rany Saadeh (PAL) beat Abdel Ali Hariri (MAR); Unanimous decision
Dhadak
Director: Shashank Khaitan
Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
COMPANY%20PROFILE
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Company%20profile
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