UAE companies should adopt a more flexible approach to working hours to improve productivity and boost staff morale, recruitment experts have said.
Employment specialists said some firms held a “dinosaur” mentality when it came to the workplace environment, and needed to be open to new ideas.
Businesses in the Emirates have suffered from a high turnover of staff, sometimes losing valuable employees after very short periods.
But experts said a less rigid approach to traditional office hours, combined with an improved focus on better reflecting staff values could help with recruitment and retention.
Being more aware of cultural sensitivity when taking on employees from different backgrounds and nationalities was also a key factor, they said.
“Many companies still have a dinosaur approach to working hours and are not flexible at all,” said Louise Karim, managing director of recruitment agency Mums@Work in Dubai.
Many companies still have a dinosaur approach [to working hours] and are not flexible at all
“They want staff behind a desk for eight hours a day. That is simply not productive and you won’t attract the right type of talent with that attitude.”
A survey of more than 500 public and private companies across the UAE in 2017 drew stark conclusions about the country’s job market.
The research by consultancy Knowledge Group found 46 per cent of companies said Emirati employees quit their jobs within three years.
It also showed 17.3 per cent of businesses said national staff resigned within 12 months and 18.7 per cent said Emiratis left after one to two years.
A 2018-19 report by recruitment firm Nadia was more positive, with staff turnover down from 11 per cent to just 8 per cent.
It also found employers were beginning to understand the value of building staff loyalty, and that new government initiatives such as new visa rules and property ownership schemes were encouraging foreign residents to stay longer.
Despite this, Ms Karim said it remained clear that some smaller UAE employers continued to ignore the importance of creating a positive, productive working environment.
She said a greater focus was needed on staff morale and their mental well-being, and that progress in these areas could improve staff retention.
“Apart from the big multi-nationals, I don’t think many companies here are catering for the wellness and mental health of their staff,” Ms Karim said.
“I don’t think there is enough focus on these issues compared to similar companies in other countries like the UK.
“It makes financial sense [to encourage more flexible hours] because you will need less office space if there are more staff working remotely.”
Other recruitment consultants also urged employers to be more aware of potential cultural sensitivities among staff.
Most of the UAE’s workforce consists of foreign nationals taking advantage of the lifestyle and tax benefits.
The resulting diversity of language, background and politics can lead to awkward clashes unless employers take care to avoid pitfalls.
“There are different cultures coming together in the UAE with very different expectations,” said Ian Jenkins, head of Middle East and Africa for Dubai recruitment agency Carter Murray.
“It varies from office to office, but some people might come from a background where they refer to their bosses by formal titles like 'Mr'.
“For some this might come across as too formal and unnecessary.”
Mr Jenkins gave another often presented example of different nationalities holding differing views.
“A boss from one part of the world might ask someone from a different culture to give their views on their plan," he said.
“That person might find it disrespectful to give their opinions. They may struggle to feel they can give their opinions or express thoughts in the workplace.”
Catherine Darroue, a senior director with health insurer Aetna International, also stressed the importance of a flexible office environment.
Ms Darroue said companies, especially those with a high number of staff from overseas, needed to understand that they had responsibly for employees outside of the workplace.
“Companies have a duty of care to help expats settle in the country,” she said as an example.
“Sometimes, if someone is coming over with their spouse and children, that spouse can feel left out which creates tension at home.
“That’s why we have annual family days where spouses get an opportunity to see their partner’s working environment and get to know their colleagues.”
UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
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Director: Jafar Panahi
Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr
Rating: 4/5
Zimbabwe v UAE, ODI series
All matches at the Harare Sports Club:
1st ODI, Wednesday, April 10
2nd ODI, Friday, April 12
3rd ODI, Sunday, April 14
4th ODI, Tuesday, April 16
UAE squad: Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
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Story of 2017-18 so far and schedule to come
Roll of Honour
Who has won what so far in the West Asia rugby season?
Western Clubs Champions League
Winners: Abu Dhabi Harlequins
Runners up: Bahrain
Dubai Rugby Sevens
Winners: Dubai Exiles
Runners up: Jebel Ali Dragons
West Asia Premiership
Winners: Jebel Ali Dragons
Runners up: Abu Dhabi Harlequins
UAE Premiership Cup
Winners: Abu Dhabi Harlequins
Runners up: Dubai Exiles
Fixtures
Friday
West Asia Cup final
5pm, Bahrain (6pm UAE time), Bahrain v Dubai Exiles
West Asia Trophy final
3pm, The Sevens, Dubai Hurricanes v Dubai Sports City Eagles
Friday, April 13
UAE Premiership final
5pm, Al Ain, Dubai Exiles v Abu Dhabi Harlequins
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
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.”
Profile
Company name: Jaib
Started: January 2018
Co-founders: Fouad Jeryes and Sinan Taifour
Based: Jordan
Sector: FinTech
Total transactions: over $800,000 since January, 2018
Investors in Jaib's mother company Alpha Apps: Aramex and 500 Startups
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Indoor cricket in a nutshell
Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
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Zero-day exploit: Exploits a vulnerability in software before a fix is found.
The bio:
Favourite holiday destination: I really enjoyed Sri Lanka and Vietnam but my dream destination is the Maldives.
Favourite food: My mum’s Chinese cooking.
Favourite film: Robocop, followed by The Terminator.
Hobbies: Off-roading, scuba diving, playing squash and going to the gym.
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