As times are conducive for hiring in the UAE, majority of the companies based in the country are increasing their headcount and this is only expected to go up.
A recent global survey, Global Snapshot, by search and selection specialist, Antal International, shows the UAE job market is doing reasonably well as more companies are hiring now than a few months back.
The survey reveals that 57 per cent of organisations in the country are currently hiring at managerial and professional level, representing an increase of 8 per cent year-on-year and 13 per cent since June 2013.
This figure is in line with the optimistic predictions made earlier reflecting the accelerated growth in the country’s employment markets.
Besides the upward hiring trend that has been witnessed, more companies are also now focused on retaining talent as competition becomes more intense.
The survey shows the percentage of businesses letting go of talent has significantly dropped over the past year from 29 per cent in January 2013 to 13 per cent, one of the lowest firing rates found anywhere in the world. This is projected to fall to just 6 per cent in the next quarter.
As more companies gear to add to the numbers, here’s a breakdown of which sectors are hiring the most and will continue to do so in the coming weeks and months.
Experts at Antal International believe specialists in education, electronics, accounting and consulting, pharmaceuticals and energy are all currently in demand as the majority of businesses in these sectors are taking staff on at managerial and professional level.
In the next quarter, professionals in agriculture, basic materials and retail can expect to be sought after as the UAE’s growing economy intensifies demand for labour.
Within the Middle East, currently, the highest hiring rates can be found in the UAE, but it’s predicted that by the next quarter both Qatari and Saudi Arabian employment markets will be near this level, highlighting the continued growth shown by the nations in the bloc.
“The UAE is going through a period of phenomenal business growth. Dubai recently won its bid to host the World Expo and is now developing an enormous site to host the six-month long event in 2020. This is expected to attract over 25 million visitors from all over the world. Elsewhere, neighbouring Qatar will be hosting the World Cup in 2022 for which the state is preparing an enormous infrastructure. These high profile events combined with huge developments in Abu Dhabi and Saudi Arabia are the major economic growth drivers in the region,” says Nizar Lalani, Managing Partner, Antal UAE.
“As a result of this investment the construction and property sector is back on track and there’s been significant money spent on developing the FMCG, services and manufacturing sectors. The regional airlines from this part of the world are also faring well, particularly Emirates, Etihad and Qatar Airways which are continuing to invest in expansion,” adds the official.
A recent report by Bayt.com, an online portal, stated that hiring is up in the UAE, with oil and gas, hospitality, construction and real estate, accounting, banking and finance seeing maximum demand for professionals.
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