DUBAI // They are aged about 30 or younger, are confident and ambitious, have plenty of ideas and are keen to share them, and they're fans of social media and instant messaging.
They are the Millennials, a tech-savvy generation of workers taking over offices around the world.
And the UAE, with its large young populations of nationals and expatriates, has a greater concentration of them than most countries.
The term was coined by population experts and social commentators to describe the generation born between 1981 and 1997.
The Millennials, also known as Generation Y, came after Generation X, those born between 1965 and 1980, who are seen as driven and willing to throw everything into work.
They followed the Baby Boomers, born between 1946 and 1964, who are categorised as nurturing and interested in self-development.
The latest generation will eventually make up half of the world's workforce and insights into what makes them tick were given yesterday by the HR expert Jonathan Budden, who works at Microsoft's Dubai office.
"Millennials are self-assured, confident, super-ambitious, think everybody wants to hear their ideas and are willing to take on the difficult and big jobs," Mr Budden said.
"So when a Millennial first comes into the workplace they're not thinking, 'I'm just going to settle in and find my way', they're thinking, 'where's my next step, how am I going to get as far up the tree as quickly as possible?'
"This generation has a huge amount of confidence. It can come across as arrogant - 'I'm a fresh graduate, been here two weeks and I want to be promoted in six months, or I want to be at this level in three years'.
"Because it's such a mixed population here in the UAE … the same type of people are here.
"When you see the energy and enthusiasm of these people, they have great ambition and they ask really difficult and testing questions because they've got so much access to information."
Mr Budden stressed that although such attitudes were found in the region, they were not limited to this part of the world.
"This isn't a specific thing related to the Gulf, it's just that this generation wants to progress quickly, and if you look at the States it's exactly the same," he said.
"They want to enjoy their job, they want things at their own convenience and they want opportunities for growth. If an employer can't give that to them they'll go and find it somewhere else."
Mr Budden gave a presentation at the HR Leaders Forum that was held in Dubai alongside the Careers UAE recruitment fair for Emiratis.
He gave advice to other HR professionals about how to manage the sort of young worker who, he said, might typically remark to a friend: "I saw the CEO in the lift and told him the latest strategy is weak and they should look at China."
Mr Budden gave four hints: use their communication tools, map their ambition, nurture and support them, and have patience.
"What you see is that the rest of the generations find that what these guys are bringing is really useful for all of us," he said.
"I'm seeing the Boomers and Generation X using tools like instant messaging in exactly the same way as Generation Y, but they've just brought it to our attention.
"You see it infiltrate across all the generations - grandmas are texting their grandchildren now."
Meanwhile, as the Millennials continue their relentless conquest of the global workplace, experts have already identified their successors.
"It'll be called whatever the social networks decide to call it," Mr Budden said.
"There's a chance it'll be Generation Z - you're starting to hear that phrase.
"They're going to be even more tech-savvy and challenge even more."
csimpson@thenational.ae
Talking about her generation
DUBAI // “Yes, I’m super-confident,” says Fatima Al Muhairi who, at 23, falls right in the middle of the Generation Y age bracket.
Like many Millennials she has already entered the workplace, in her case with Etisalat, but her goals go far beyond picking up a pay cheque at the end of the month.
In this respect she conforms to one of the traits identified by Jonathan Budden: ambition.
“I’d like to open my own company in fashion,” Ms Al Muhairi said. “And I do have plenty of ideas, definitely, I’m always thinking of fashion designs.
“I like to get my ideas out there through instant messaging, though I don’t have time for Facebook and Twitter.”
Mr Budden said Millennials were more likely to seek advice from Baby Boomers than members of Generation X.
But Ms Al Muhairi said often the best suggestions came from her Millennial peers.
“Sometimes people my age come up with a new idea, not like an old-school idea,” she said.
“Most of the time we have the knowledge and we have the technology. We are the people who have reached the highest in technology.”
* Colin Simpson
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
More from Neighbourhood Watch:
PRESIDENTS CUP
Draw for Presidents Cup fourball matches on Thursday (Internationals first mention). All times UAE:
02.32am (Thursday): Marc Leishman/Joaquin Niemann v Tiger Woods/Justin Thomas
02.47am (Thursday): Adam Hadwin/Im Sung-jae v Xander Schauffele/Patrick Cantlay
03.02am (Thursday): Adam Scott/An Byeong-hun v Bryson DeChambeau/Tony Finau
03.17am (Thursday): Hideki Matsuyama/CT Pan v Webb Simpson/Patrick Reed
03.32am (Thursday): Abraham Ancer/Louis Oosthuizen v Dustin Johnson/Gary Woodland
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
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Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Global institutions: BlackRock and KKR
US-based BlackRock is the world's largest asset manager, with $5.98 trillion of assets under management as of the end of last year. The New York firm run by Larry Fink provides investment management services to institutional clients and retail investors including governments, sovereign wealth funds, corporations, banks and charitable foundations around the world, through a variety of investment vehicles.
KKR & Co, or Kohlberg Kravis Roberts, is a global private equity and investment firm with around $195 billion of assets as of the end of last year. The New York-based firm, founded by Henry Kravis and George Roberts, invests in multiple alternative asset classes through direct or fund-to-fund investments with a particular focus on infrastructure, technology, healthcare, real estate and energy.
England Test squad
Joe Root (captain), Moeen Ali, James Anderson, Jonny Bairstow (wicketkeeper), Stuart Broad, Jos Buttler, Alastair Cook, Sam Curran, Keaton Jennings, Dawid Malan, Jamie Porter, Adil Rashid, Ben Stokes.
Andor
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AI traffic lights to ease congestion at seven points to Sheikh Zayed bin Sultan Street
The seven points are:
Shakhbout bin Sultan Street
Dhafeer Street
Hadbat Al Ghubainah Street (outbound)
Salama bint Butti Street
Al Dhafra Street
Rabdan Street
Umm Yifina Street exit (inbound)
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The Lost Letters of William Woolf
Helen Cullen, Graydon House
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
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My Cat Yugoslavia by Pajtim Statovci
Pushkin Press
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