In the UK, Amazon has launched flexible contracts for full-time staff, which will allow parents and carers of young children to work during the school term only, giving them more time with their families.
The contracts will guarantee time off during school holidays without affecting workers’ other benefits.
Will UAE employers start adopting similar strategies to help their employees?
With the summer months around the corner, employees with children in the UAE will be making plans for July and August, when temperatures soar and children are on holiday.
Many families living here that have relocated from other countries will want to return home during this time, but not everyone will have the flexibility to do so.
Life is very different in the Middle East, with many families having the luxury of full-time help at home through a live-in nanny. However, grandparents and members of their extended families back home will want to spend time with the children, too.
Born and raised in the UK, I was lucky to have my grandmother visit or take me away during the summer holidays and I try to make sure my children also have the same experience.
I will be spending six weeks in the UK this summer, splitting my time between family holidays and working remotely and know many others who will be doing the same.
One thing that we learnt after the onset of the Covid-19 pandemic in 2020 is that remote working is now more acceptable.
Many, including myself, have enjoyed being back in the office but having work from home forced upon me, I have learnt to adapt and can still be productive when not at my desk.
Although I enjoy being in the office most of the time, I also enjoy travelling, especially during the summer months.
Our company has offices in the UK and South Africa where we can work from, but not everyone is that lucky.
For some, it is simply not feasible to work from home – those in the medical, construction or hospitality sectors, for example. These are some industries where flexible work contracts would be highly beneficial for employees with children.
There are certainly areas of opportunity for employers to introduce more flexible work contracts.
We have already seen positive changes in the workplace in the UAE, with more focus on employee well-being.
The question is: Will employers in the UAE and the wider region start to adapt to allow more parents to take time off during school holidays?
Although there have been many redundancies in the technology sector earlier this year among some large multinational companies, there is still a huge demand for talent here.
We are still seeing growth in the hiring of highly skilled technology professionals, many of who are being hired from abroad.
Where there is competition for these skill sets, organisations that offer better conditions with policies such as flexible working will be highly attractive to potential candidates with families.
A good salary is obviously important, but money is not the be all and end all in today’s job market.
Watch: Some of the stats behind the UAE's hiring boom
Many companies have already taken positive steps to put in place a “people first” culture, with practices such as hybrid working, work from anywhere and flexible hours becoming more widespread.
In some cases, a few employers have taken this a step further by offering staff an unlimited holiday allowance.
There is certainly scope for more employers to further improve their working conditions.
In my recruitment career spanning more than 20 years, I have seen a lot of changes in the workplace and am looking forward to many more forward-thinking policies.
The UAE government will continue to further develop and improve life for its residents, in line with its 2031 vision. This will, no doubt, accommodate better working conditions for all.
Organisations that are early adopters of more flexible working conditions will reap the rewards of attracting the best talent.
John Armstrong is founder and managing director of JCA Associates
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
First Person
Richard Flanagan
Chatto & Windus
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.”
UAE currency: the story behind the money in your pockets
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
