Hisham Al Gurg, chief executive at the private office of Sheikh Saeed bin Ahmed and Seed Group, advised graduates to follow their passions and interests when job-hunting. Antonie Robertson / The National
Hisham Al Gurg, chief executive at the private office of Sheikh Saeed bin Ahmed and Seed Group, advised graduates to follow their passions and interests when job-hunting. Antonie Robertson / The National
Hisham Al Gurg, chief executive at the private office of Sheikh Saeed bin Ahmed and Seed Group, advised graduates to follow their passions and interests when job-hunting. Antonie Robertson / The National
Hisham Al Gurg, chief executive at the private office of Sheikh Saeed bin Ahmed and Seed Group, advised graduates to follow their passions and interests when job-hunting. Antonie Robertson / The Natio

UAE business leader urges graduates to be wary of job fads and 'follow their hearts'


Anam Rizvi
  • English
  • Arabic

Graduates in the UAE have been told to manage their salary expectations and "follow their hearts" rather than chase the latest career trends to make their way in an ever-changing job market.

Leading businessman Hisham Al Gurg, chief executive at the Private Office of Sheikh Saeed bin Ahmed, a major investment group, said the rise of Covid-19 would change the face of the workplace in the future.

But he called on job seeker not to pursue quick-fix options, which may not stand the test of time, and instead build their careers carefully by trying to find work in a sector they are passionate about and have knowledge of.

“Don’t just go for jobs that are at the top right now. Follow your passion, your interests, and your heart," said Mr Al Gurg, who oversees investment opportunities in diverse sectors such as technology, healthcare, tourism and hospitality for the Seed Group.

Expectations are very high and these need to come down if you are a fresh graduate

"The job market could change after six months.

“After Covid-19, we will see a complete shift in jobs and many jobs will be replaced by machines. This will create new kinds of work.

“Don’t think that you can stick to how you used to do your job.”

Mr Al Gurg advised students they might have to temper financial expectations as the global job market slowly recovered from the impact of the coronavirus pandemic.

"Expectations are very high and these need to come down if you are a fresh graduate."

He said students were often not used to long hours of hard work required in private sector jobs, while most small businesses could not afford to spend a lot of time training graduates.

Sultan Bin Kharsham Al Ali, managing director at Ordino SBS, an accounting company in the UAE, also cautioned students against going for trending jobs unless they were passionate about these.

“Trends keep changing,” said Mr Al Ali.

“A few years ago, we saw that compliance in banking had a huge demand and everybody started getting certificates in this field.

“Now, half of these people are unemployed."

While he agreed it was important to the market’s needs, he urged students to pursue careers they cared about.

“A lot of degrees will become redundant and jobs that will be in demand will be very different” said Vandana Mahajan, founder of Futures Abroad, an education consultancy in the Emirates.

In the face of uncertainty, she said students would need to be resilient and think constructively.

In 2020, top hard skills companies were looking for included Blockchain, cloud computing, analytical reasoning, artificial intelligence and video production, according to the The Covid-19 Response Report published by the Oxford Business Group, a global business intelligence and advisory firm, and the University of Manchester Middle East Centre in Dubai.

Ways to control drones

Countries have been coming up with ways to restrict and monitor the use of non-commercial drones to keep them from trespassing on controlled areas such as airports.

"Drones vary in size and some can be as big as a small city car - so imagine the impact of one hitting an airplane. It's a huge risk, especially when commercial airliners are not designed to make or take sudden evasive manoeuvres like drones can" says Saj Ahmed, chief analyst at London-based StrategicAero Research.

New measures have now been taken to monitor drone activity, Geo-fencing technology is one.

It's a method designed to prevent drones from drifting into banned areas. The technology uses GPS location signals to stop its machines flying close to airports and other restricted zones.

The European commission has recently announced a blueprint to make drone use in low-level airspace safe, secure and environmentally friendly. This process is called “U-Space” – it covers altitudes of up to 150 metres. It is also noteworthy that that UK Civil Aviation Authority recommends drones to be flown at no higher than 400ft. “U-Space” technology will be governed by a system similar to air traffic control management, which will be automated using tools like geo-fencing.

The UAE has drawn serious measures to ensure users register their devices under strict new laws. Authorities have urged that users must obtain approval in advance before flying the drones, non registered drone use in Dubai will result in a fine of up to twenty thousand dirhams under a new resolution approved by Sheikh Hamdan bin Mohammed, Crown Prince of Dubai.

Mr Ahmad suggest that "Hefty fines running into hundreds of thousands of dollars need to compensate for the cost of airport disruption and flight diversions to lengthy jail spells, confiscation of travel rights and use of drones for a lengthy period" must be enforced in order to reduce airport intrusion.

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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.”

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THE BIO

Age: 33

Favourite quote: “If you’re going through hell, keep going” Winston Churchill

Favourite breed of dog: All of them. I can’t possibly pick a favourite.

Favourite place in the UAE: The Stray Dogs Centre in Umm Al Quwain. It sounds predictable, but it honestly is my favourite place to spend time. Surrounded by hundreds of dogs that love you - what could possibly be better than that?

Favourite colour: All the colours that dogs come in

VEZEETA PROFILE

Date started: 2012

Founder: Amir Barsoum

Based: Dubai, UAE

Sector: HealthTech / MedTech

Size: 300 employees

Funding: $22.6 million (as of September 2018)

Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC

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Series info

Test series schedule 1st Test, Abu Dhabi: Sri Lanka won by 21 runs; 2nd Test, Dubai: Play starts at 2pm, Friday-Tuesday

ODI series schedule 1st ODI, Dubai: October 13; 2nd ODI, Abu Dhabi: October 16; 3rd ODI, Abu Dhabi: October 18; 4th ODI, Sharjah: October 20; 5th ODI, Sharjah: October 23

T20 series schedule 1st T20, Abu Dhabi: October 26; 2nd T20, Abu Dhabi: October 27; 3rd T20, Lahore: October 29

Tickets Available at www.q-tickets.com

Stat Fourteen Fourteen of the past 15 Test matches in the UAE have been decided on the final day. Both of the previous two Tests at Dubai International Stadium have been settled in the last session. Pakistan won with less than an hour to go against West Indies last year. Against England in 2015, there were just three balls left.

Key battle - Azhar Ali v Rangana Herath Herath may not quite be as flash as Muttiah Muralitharan, his former spin-twin who ended his career by taking his 800th wicket with his final delivery in Tests. He still has a decent sense of an ending, though. He won the Abu Dhabi match for his side with 11 wickets, the last of which was his 400th in Tests. It was not the first time he has owned Pakistan, either. A quarter of all his Test victims have been Pakistani. If Pakistan are going to avoid a first ever series defeat in the UAE, Azhar, their senior batsman, needs to stand up and show the way to blunt Herath.

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